Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    878 60th Stcf-4 Brooklyn, NY 11220-5578

    • Office Properties & Spaces
    • 1,088 SF
    OFF-MARKET
    Last Sale
    Jun 28, 2023
    $900,000
    Value Estimations
    $880,000
    Show details
    Cap Rate Potential
    4.2%
    Office Properties & Spaces
    Location Intelligence
    Property ID
    US63-5369145
    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

    • 诸航西医诊所 / Internist / Pediatrician
    • Future / Insurance Agency
    • Hz Np Family Health Pllc / Medical Clinic
    • Hang Zhu Family Health Board Certified / Nurse Practitioner

    Property Details for 878 60th Stcf-4

    Year built
    1925
    Property size
    1,088 SF
    Zone code
    R6
    Property type
    Office Properties & Spaces
    APN
    05714-1105
    APU
    57141105

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $820,000
      ML approach
      $890,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $580,000
      6.5%
      $535,000
      7%
      $495,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -74.0078
    Latitude
    40.6341
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $8,116
    $11,251
    $65,370
    $76,621
    -
    $25,003
    $145,266
    $170,269

    Comparable in this City

    • Value Estimation by Request
      937 SF

      821 57th St Ste, Unit 2

      OFFICE (GENERAL) • 937 SF
      821 57th St Ste, Brooklyn, NY 11220-3699
      View Details
    • Value Estimation by Request
      427 SF

      849 57th St, Unit 603

      OFFICE (GENERAL) • 427 SF
      849 57th St, Brooklyn, NY 11220-3797
      View Details
    • Value Estimation by Request
      567 SF

      849 57th St, Unit 801

      OFFICE (GENERAL) • 567 SF
      849 57th St, Brooklyn, NY 11220-3797
      View Details
    • Value Estimation by Request
      567 SF

      849 57th St, Unit 901

      OFFICE (GENERAL) • 567 SF
      849 57th St, Brooklyn, NY 11220-3797
      View Details
    • Value Estimation by Request
      1,005 SF

      839 58th St, Unit 1

      OFFICE (GENERAL) • 1,005 SF
      839 58th St, Brooklyn, NY 11220-3679
      View Details
    • Value Estimation by Request
      1,163 SF

      839 58th St, Unit 2

      OFFICE (GENERAL) • 1,163 SF
      839 58th St, Brooklyn, NY 11220-3679
      View Details

    Similar Nearby for Sale

    • $3,250,000
      2,949 SF

      Sunset Park Office Space - $3.25M

      Prime Sunset Park location, 2,949 sq ft office space.
      849 53Rd St, Brooklyn, NY 11220
      View Details
    • $1,150,000
      1,439 SF

      Sunset Park Office Condo

      Prime Brooklyn location, 1,439 SF, great investment.
      867 53Rd St 3, Brooklyn, NY 11220
      View Details
    • $2,200,000
      2,819 SF

      Prime Sunset Park Office Space

      2,819 SF Office, $2.2M, 25-Year Tax Abatement
      849 53Rd St, Brooklyn, NY 11220
      View Details
    • $1,980,000
      4,750 SF

      Sunset Park Commercial Building

      Prime Location, Vacant, Investment Opportunity
      135 58Th St, Brooklyn, NY 11220
      View Details
    • $3,500,000
      6,300 SF

      Bay Ridge Commercial Condo Investment

      Prime Brooklyn Location, 6,300 SF, 3 Units
      268 Bay Ridge Ave, Brooklyn, NY 11220
      View Details
    • $1,150,000
      1,439 SF

      Sunset Park Commercial Condo

      Prime Brooklyn Office, 1,439 SF
      867 53Rd St 4, Brooklyn, NY 11220
      View Details

    Similar Nearby for Lease

    • $30 SF/Yr
      5,325 SF

      Prime Brooklyn Office Space

      5,325 SF Office, Immediate Occupancy
      666 64Th St, Brooklyn, NY 11220
      View Details
    • $27 SF/Yr
      3,300 SF

      Prime Brooklyn Retail Space

      1,100 SF Renovated Storefront - Ideal Location
      6110 7Th Ave, Brooklyn, NY 11220
      View Details
    • $103 SF/Yr
      1,100 SF

      Sunset Park Office Space For Rent

      Prime location, renovated, all-inclusive.
      746 61St St, Brooklyn, NY 11220
      View Details
    • $47 SF/Yr
      1,140 SF

      Sunset Park Office Space - 1140 sqft

      Prime Brooklyn office, 6 rooms, 2 baths.
      766 55Th St, Brooklyn, NY 11220
      View Details
    • $28 SF/Yr
      2,200 SF

      Prime Brooklyn Executive Office Space

      2,200 SF, Single Tenant, Move-In Ready
      4606 3Rd Ave, Brooklyn, NY 11220
      View Details
    • $20 SF/Yr
      1,600 SF

      Brooklyn Office Space: 1600 sq ft

      Prime Brooklyn office, single tenant, 1600 sq ft.
      272 52Nd St, Brooklyn, NY 11220
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    878 60th Stcf-4
    Brooklyn, NY 11220-5578
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.