Listing Agency: Fang Fang Realty Inc

Listed By: XueFang (Sue) Li Show Phone

Source: Exprealty

Added: May 8 Changed: Oct 4 Last Checked: Oct 16 at 3:11PM

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Investment Insights

Based on property information with market context.

This brand-new 13,615-square-foot community space is located within a mixed-use complex containing 146 residential units. The property can accommodate a range of community-serving and professional functions, including senior centers, home care operations, medical offices, training facilities, nonprofit organizations, and children’s play areas.

Located at C103-1238 63rd St in Brooklyn, the property is near supermarkets, restaurants, and shopping. Public transportation access includes the N and D subway lines along with the B9 and B64 bus routes. Nearby schools identified in the property information include PS176, IS187, and PS227.

Key Highlights

• Brand‑new 13,615‑square‑foot community space
• Located within a mixed‑use complex with 146 residential units
• Suitable for senior centers, home care companies, and medical offices

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$406,571

Cap Rate

5.98%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$8,131,420 $8.1M

Cap Rate 7%

$5,808,157 $5.8M

Cap Rate 9%

$4,517,456 $4.5M

Is this asking price fair?

Market Conditions

NOI Build-Up for 13,615 SF

Gross rent

$686.2K $50.40/SF

− Vacancy

−$144.1K −$10.58/SF

EGI

$542.1K $39.82/SF

− OpEx

−$135.5K −$9.95/SF

NOI

$406.6K $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 Rate 5%

$8,131,420

Cap Rate 7%

$5,808,157

Cap Rate 9%

$4,517,456

Alternative Uses

Best Use

Office B

$5.81M

$5.08M – $6.78M (±1% cap)

NOI $406,571 @ 7.0% cap · market cap 5.98%

Second Best

Mixed Use

$5.37M

$4.70M – $6.26M (±1% cap)

NOI $375,774 @ 7.0% cap · market cap 5.53%

Theoretical Best

Office A

$8.83M

$7.72M – $10.30M (±1% cap)

NOI $617,838 @ 7.0% cap · market cap 9.09%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Office Units

Suggested Use

Top Pick Real Estate Agency Law Firm Parking Lot & Garage Gym & Fitness Center Nursing Home Bed & Breakfast

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

5,243

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

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Large community space within a 146-unit mixed-use complex, near shopping, restaurants, supermarkets, and public transportation.

Where is this mixed-use property located?

The property is located at C103-1238 63rd St Brooklyn, NY.

What is the asking price?

The asking price for this property is $6,800,000.

What are key features of this property?

This property features: Brand‑new 13,615‑square‑foot community space; Located within a mixed‑use complex with 146 residential units; Suitable for senior centers, home care companies, and medical offices