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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1129 60Th St Brooklyn, NY 11219

    • Commercial real estate
    For Sale
    View listing
    $2,368,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2887619
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 1129 60Th St

    Property type
    Commercial real estate

    Description

    This exceptional 4,007 square foot lot, located at 1129 60th Street in Brooklyn, New York's desirable Boro Park neighborhood, presents a compelling opportunity for developers, investors, and end-users alike. The property boasts a generous 40x100 lot size, complemented by a sizable 20x100 side yard, offering significant potential for various development projects. Currently zoned M1-1, this land parcel is ready for immediate development. The existing semi-detached two-family home provides immediate income potential or can be easily demolished to make way for new construction. The property's low annual tax burden of $6,735 represents a significant advantage. Full possession is granted at closing, ensuring a seamless transition for the new owner. Situated in Kings County (Brooklyn), with a zip code of 11219, this location offers easy access to major transportation routes and local amenities. This is a rare opportunity to acquire a sizable lot in a highly sought-after Brooklyn neighborhood. Don't miss out on this chance to capitalize on the vibrant real estate market in this prime location. The property's dimensions and zoning regulations provide a solid foundation for a variety of development possibilities, making it an attractive investment for both experienced developers and those seeking a lucrative venture.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings (Brooklyn)
    State
    New York
    Longitude
    -74.0019793
    Latitude
    40.6311703

    Comparable in this City

    • $1,999,000
      1,232 SF

      Brooklyn Development Land: Prime Location

      4,503 SF lot, $1.99M, high FAR potential.
      1417 63Rd St, Brooklyn, NY 11219
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    • $2,368,000
      0.09 Acres

      Brooklyn Land with M1-1 Zoning

      Brooklyn land with M1-1 zoning, low taxes, and full possession.
      1129 60Th St, Brooklyn, NY 11219
      View Details
    • $455,000
      420 SF

      901 60Th St

      Land • 420 SF
      901 60Th St, Brooklyn, NY 11219
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    • $6,600,000

      Brooklyn Land For Sale

      Commercial land available in Brooklyn, New York.
      1058 62Nd St, Brooklyn, NY 11219
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    • $4,000,000
      26,544 SF

      Brooklyn Multifamily Portfolio

      Two prime Brooklyn apartment buildings
      1221 60Th St, Brooklyn, NY 11219
      View Details
    • $2,298,000
      2,504 SF

      Prime Brooklyn Mixed-Use Property

      Spacious 2-Family Home, Excellent Location
      914 45Th St, Brooklyn, NY 11219
      View Details

    Similar Nearby for Sale

    • $1,999,000
      1,232 SF

      Brooklyn Development Land: Prime Location

      4,503 SF lot, $1.99M, high FAR potential.
      1417 63Rd St, Brooklyn, NY 11219
      View Details
    • $2,368,000
      0.09 Acres

      Brooklyn Land with M1-1 Zoning

      Brooklyn land with M1-1 zoning, low taxes, and full possession.
      1129 60Th St, Brooklyn, NY 11219
      View Details
    • $455,000
      420 SF

      901 60Th St

      Land • 420 SF
      901 60Th St, Brooklyn, NY 11219
      View Details
    • $6,600,000

      Brooklyn Land For Sale

      Commercial land available in Brooklyn, New York.
      1058 62Nd St, Brooklyn, NY 11219
      View Details
    • $4,495,000
      5,400 SF

      Prime Boro Park Commercial Building

      8 Units, 5,400 SF, High-Traffic Location
      4924 13Th Ave, Brooklyn, NY 11219
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    • $810,000
      7,473 SF

      Prime Brooklyn Office Space

      7,473 SF Office, Newly Constructed
      982 50Th St, Brooklyn, NY 11219
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,800 SF

      Renovated Office Space Ready

      Move-in ready office space with executive offices and conference room.
      1554 63Rd St, Brooklyn, NY 11219
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    • Contact for pricing
      2,000 SF

      Renovated Furnished Office Space

      2,000 SF newly renovated and furnished office space for rent.
      4301 14Th Ave, Brooklyn, NY 11219
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    • Contact for pricing
      1,500 SF

      Renovated Office Space Available

      Newly renovated office space with high ceilings and ample sunlight.
      1355 60Th St, Brooklyn, NY 11219
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    • Contact for pricing
      570 SF

      Reconstructed Building with Outdoor Terraces

      Reconstructed building featuring high ceilings and multiple outdoor terraces.
      1055 63Rd St, Brooklyn, NY 11219
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    • Contact for pricing
      1,450 SF

      Spacious Office with Multiple Rooms

      Office space featuring multiple rooms, furniture, and parking available.
      1510 56Th St, Brooklyn, NY 11219
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    • $8,000 /Mo
      3,000 SF

      Prime Retail Space Near Subway

      3,000 SF retail space near subway entrance available for rent.
      6001 14Th Ave, Brooklyn, NY 11219
      View Details
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    1129 60Th St
    Brooklyn, NY 11219
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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