Office Condominium
New
For Sale
$1,500,000
C2-821 53rd St, Brooklyn, NY 11203
Condominium office unit near public transportation, restaurants, supermarkets, and pharmacies.
Property Size2,374 SF
Price / SF$631.84
Days on Market7
Property Features for C2-821 53rd St
General Information
Standard status
Active
Size
2,374 SF
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$2,520
Listing Agency:
E House Realty & Mgt. Inc.
Listed By:
Weixing (Winston) Lao
(718) 680-2776
Source:
Exprealty
Added: Sep 16
Changed: Sep 21
Last Checked: Sep 21 at 2:50PM
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 E House Realty & Mgt. Inc.
Investment Insights
Based on property information with market context.
This office condominium unit provides 2,374 square feet of commercial space within Sunset Park Community Condos. The property is positioned for office-oriented operations and includes a 7-year tax abatement.
Located at C2-821 53rd St in Brooklyn, the unit is minutes from the N train station and the B70 bus stop. Restaurants, supermarkets, and pharmacies are also nearby, supporting convenient access for occupants and visitors.
Located at C2-821 53rd St in Brooklyn, the unit is minutes from the N train station and the B70 bus stop. Restaurants, supermarkets, and pharmacies are also nearby, supporting convenient access for occupants and visitors.
Key Highlights
- 2,374‑square‑foot office condominium unit
- 7‑year tax abatement
- Minutes from the N train station
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
$59,227
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
3.95%
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%
$1,184,540
$1.2M
Cap Rate 7%
$846,100
$846.1K
Cap Rate 9%
$658,078
$658.1K
Market Conditions
NOI Build-Up for 2,374 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
$102.6K $43.20/SF
− Vacancy
−$23.6K −$9.94/SF
EGI
$79.0K $33.26/SF
− OpEx
−$19.7K −$8.32/SF
NOI
$59.2K $24.95/SF
Area
Brooklyn, NY
Vacancy
23.00%
Lease Rate
$43.20 /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%
$1,184,540
Cap Rate 7%
$846,100
Cap Rate 9%
$658,078
Alternative Uses
Best Use
Office B
$846.1K
$740.3K – $987.1K
NOI $59,227 @ 7.0% cap · market cap 3.95%
Second Best
Healthcare Medical
$786.3K
$688.0K – $917.3K
NOI $55,039 @ 7.0% cap · market cap 3.67%
Theoretical Best
Specialty Retail
$1.97M
$1.72M – $2.29M
NOI $137,597 @ 7.0% cap · market cap 9.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,091
Businesses Nearby
Explore this area
Business Placement
Demographics for 11203, NY
81,824
Population
33,434
Households
2.4
Avg Household Size
41
Median Age
26%
College-Educated
88%
High-School Grad
2.1 sq mi
ZIP Area
38,964
Density / Sq Mi
$68,028
Median Household Income
$47,302
Median Earnings
$1,566
Median Rent
$677,700
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Condominium office unit near public transportation, restaurants, supermarkets, and pharmacies.
Where is this office units located?
The property is located at C2-821 53rd St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 2,374‑square‑foot office condominium unit; 7‑year tax abatement; Minutes from the N train station
