867 53Rd StBrooklyn, NY 11220

Property Details for 867 53Rd St

Year built

1925

Lot size

0.07 AC

Property size (Sq ft)

15,965 SF

Zone code

R6

Property type

Office buildings

APN

05658-0050

APU

56580050

Description

This exceptional 1,335-square-foot commercial condominium is located in Brooklyn's desirable Sunset Park neighborhood at 867 53rd Street, zip code 11220. This brand-new construction unit is situated in an elevator building and boasts a private balcony. The asking price is $1,068,000. The property features 8-10 foot ceilings and sits on a 2,850-square-foot lot. A significant advantage is the 15-year tax abatement, resulting in currently low annual property taxes of only $678.12, along with a low monthly common charge of $545.81. The property is currently generating a monthly rental income of $4,000. Owner financing is available with a 40% down payment and a 6% interest rate, allowing for a 30-day closing. Its versatile layout is suitable for various uses, including but not limited to doctor's offices, senior centers, daycare centers, accounting firms, and travel agencies. The property's convenient location offers easy access to shopping, major banks, hospitals, and the N train/8th Avenue subway station. The seller is open to reasonable offers. This presents a unique opportunity to acquire a commercial property in the thriving 8th Avenue business district of Sunset Park.

• CAP approach

  CAP return

  Valuation

  6%

  $2,991,420

  6.5%

  $2,761,310

  7%

  $2,564,080

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,085,990

  Geo Method

  $2,085,990

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $5,436,390

  Retail / Commercial

  $2,787,760

  Mixed-Use / Specialty

  $2,777,820

  Hospitality / Lodging

  $2,038,000

  Institutional / Educational

  $2,887,810

  Residential Income

  $3,378,740

  Multifamily

  $4,052,280

  Automotive / Energy

  $2,475,270

  Parking / Income-Based Land

  $854,184

  Restaurant / Food Service

  $1,444,760

  Healthcare / Senior Housing

  $2,848,600

Location Insight

City

Brooklyn

County

Kings

State

New York

Latitude

40.6386

Longitude

-74.0036

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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