824 56Th StBrooklyn, NY 11220

Property Details for 824 56Th St

Year built

1920

Lot size

0.05 AC

Property size (Sq ft)

8,237 SF

Zone code

R6

Property type

Office properties

Property subtype

Office buildings

APN

05686-0016

APU

56860016

Description

This exceptional 1,289 square foot commercial office condo, unit #5, is situated in a new six-unit community development in Brooklyn's Sunset Park neighborhood. Located on 56th Street, a high-traffic area near 8th Avenue, this property offers unparalleled convenience with proximity to shopping, restaurants, supermarkets, and public transportation. The unit boasts 8-10 foot ceilings and is part of a building scheduled for completion in Spring 2023. Ideal for investors, medical professionals, or daycare operators, this prime location provides easy access to the N train at 8th Avenue or the Fort Hamilton Parkway subway station. The 2,000 square foot lot provides ample space. This pre-sale opportunity presents a rare chance to own in a thriving Brooklyn community. The spacious 20 x 65 layout offers versatility for a variety of commercial uses. This is a unique opportunity to establish a business in a high-demand area with excellent accessibility and visibility. The asking price is $1,198,770.

• CAP approach

  CAP return

  Valuation

  6%

  $1,361,822

  6.5%

  $1,257,067

  7%

  $1,167,276

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,076,246

  Geo Method

  $1,076,246

• Alternative Use

  Use

  Valuation

  Residential

  $1,558,763

  Hospitality

  $1,427,818

  Educational

  $1,187,928

  Medical

  $1,228,783

  Retail

  $1,847,888

Location Insight

City

Brooklyn

County

Kings

State

New York

Latitude

40.6372

Longitude

-74.0067

CBSA code

35620

CBSA name

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

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].