Renovated Office Unit with
For Sale
$1,550,000
C1-2345 60th St, Brooklyn, NY 11220
Custom commercial condo with reception, private offices, conference facilities, and an adjoining basement unit connected by elevator.
Property Size2,600 SF
Price / SF$596.15
Days on Market19
Property Features for C1-2345 60th St
General Information
Standard status
Active
Size
2,600 SF
Elevators
Yes
Additional Details
Office Units
1
Taxes and HOA fees
Annual Taxes
$4,138
Building Details
Owner Occupied
No
Listing Agency:
Metro Realty Professionals
(718) 838-2600
Listed By:
Rui (Nancy) L Wu · License #10491203971
(718) 838-2600
Source:
Exprealty
Added: Jul 24
Changed: Aug 7
Last Checked: Aug 10 at 7:38AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Metro Realty Professionals
Investment Insights
Based on property information with market context.
This office condominium includes a 2,600-square-foot primary unit with a custom-built layout renovated four years ago. The interior provides a reception area, shared work zone, private employee offices, an executive office with its own restroom, two additional employee restrooms, a conference room, and a break room with a large island. A 1,500 sqft balcony expands the usable space.
An elevator links the primary unit to C1, a 1,100 sqft basement commercial unit with open space and a half restroom. C1 is currently vacant and is identified in the property information as suitable for an Ambulatory Diagnostic or Treatment Health Care Facility. The occupied primary unit includes 3% yearly increases for the tenant. The property is located in Bensonhurst at C1-2345 60th St, Brooklyn, NY.
An elevator links the primary unit to C1, a 1,100 sqft basement commercial unit with open space and a half restroom. C1 is currently vacant and is identified in the property information as suitable for an Ambulatory Diagnostic or Treatment Health Care Facility. The occupied primary unit includes 3% yearly increases for the tenant. The property is located in Bensonhurst at C1-2345 60th St, Brooklyn, NY.
Key Highlights
- 2,600‑square‑foot primary office unit renovated four years ago
- 1,500 sqft balcony connected to the office unit
- Custom layout with reception, private offices, executive office, conference room, and break room
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$77,641
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.01%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,552,820
$1.6M
Cap Rate 7%
$1,109,157
$1.1M
Cap Rate 9%
$862,678
$862.7K
Market Conditions
NOI Build-Up for 2,600 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$131.0K $50.40/SF
− Vacancy
−$27.5K −$10.58/SF
EGI
$103.5K $39.82/SF
− OpEx
−$25.9K −$9.95/SF
NOI
$77.6K $29.86/SF
Area
ZIP 11220
Vacancy
21.00%
Lease Rate
$50.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,552,820
Cap Rate 7%
$1,109,157
Cap Rate 9%
$862,678
Alternative Uses
Best Use
Office B
$1.11M
$970.5K – $1.29M
NOI $77,641 @ 7.0% cap · market cap 5.01%
Second Best
Healthcare Medical
$753.1K
$659.0K – $878.6K
NOI $52,716 @ 7.0% cap · market cap 3.40%
Theoretical Best
Office A
$1.69M
$1.47M – $1.97M
NOI $117,986 @ 7.0% cap · market cap 7.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
1,188
Businesses Nearby
Explore this area
Business Placement
Demographics for 11220, NY
105,797
Population
30,897
Households
3.4
Avg Household Size
35
Median Age
25%
College-Educated
62%
High-School Grad
1.7 sq mi
ZIP Area
62,234
Density / Sq Mi
$64,201
Median Household Income
$31,489
Median Earnings
$1,688
Median Rent
$1,021,200
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Custom commercial condo with reception, private offices, conference facilities, and an adjoining basement unit connected by elevator.
Where is this office units located?
The property is located at C1-2345 60th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: 2,600‑square‑foot primary office unit renovated four years ago; 1,500 sqft balcony connected to the office unit; Custom layout with reception, private offices, executive office, conference room, and break room
