720 57Th St Brooklyn, NY 11220
- Retail space
- 2,830 SF
- 0.14 lot acres
Current Use by Public Records
- Brooklyn Elite Center Inc / Kindergarten / Preschool
- apartment / Hotel
- Brooklyn Asian Civilian Observation Patrol / Public Safety Office
Property Details for 720 57Th St
- Year built
- 2007
- Lot size
- 0.14 lot acres
- Property size
- 2,830 SF
- Zone code
- R6B
- Property type
- Retail space
- APN
- 00850-1002
- APU
- 8501002
Description
This exceptional 6,000 square foot commercial land parcel presents a compelling investment opportunity in Brooklyn's vibrant Sunset Park neighborhood. Located at 720 57th Street, this property is classified as a commercial condo and boasts a substantial lot size ideal for various development projects or continued leasehold income. The asking price is $1,288,000. Currently, the land is leased to an adult recreational center generating a monthly income of $4,000. The property's total square footage is 1,288 square feet, although the significant lot size offers considerable potential for expansion or redevelopment. The building's ceiling height is listed as "Other," indicating a need for on-site verification to determine the exact height. This prime location in Sunset Park offers excellent visibility and accessibility, making it an attractive proposition for a wide range of commercial ventures. The property is situated in Kings County (Brooklyn), New York, with a zip code of 11220. Given its current lease and substantial lot size, this property represents a strong investment with potential for significant returns. Serious inquiries are encouraged to explore the possibilities this unique opportunity presents. Further details regarding zoning and permitted uses are available upon request.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $535,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $450,000
- 6.5%
- $475,000
- 7%
- $470,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $485,000
- Geo Method
- $520,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $545,000
- Retail
- $605,000
- Mixed-Use
- $590,000
- Hospitality
- $580,000
- Educational
- $625,000
- Residential Income
- $485,000
- Energy
- $590,000
- Income-Based Land
- $485,000
- Food Service
- $615,000
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -74.0096
- Latitude
- 40.638
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
