880 60Th StBrooklyn, NY 11220

Property Details for 880 60Th St

Year built

2000

Lot size

0.09 AC

Property size (Sq ft)

153 SF

Zone code

R6

Property type

Parking lots & garages

APN

05714-1014

APU

57141014

Description

This exceptional Sunset Park, Brooklyn investment opportunity presents two combined commercial units totaling nearly 5,000 square feet, situated within a desirable Class C building constructed in 2000. The property, located at 880 60th Street, features a ground floor unit spanning 2,420 square feet with a 399-square-foot yard, and a second-floor unit offering 2,516 square feet and an expansive 838-square-foot yard. Currently generating stable income via a 15-year lease with a pre-school, this property offers significant upside potential for investors and owner-users alike. The R6 zoning permits a variety of uses. The property's strategic location in Sunset Park provides easy access to Manhattan and Downtown Brooklyn, benefiting from the neighborhood's rapid growth and proximity to numerous amenities, including Whole Foods Market, Twist, Costco, Five Boroughs Brewing Co., and Gumption Coffee. The asking price for this combined storefront investment is $4,390,000.

• CAP approach

  CAP return

  Valuation

  6%

  $28,942.70

  6.5%

  $26,716.30

  7%

  $24,808

• Comparable approach

  Method

  Valuation

  Relative Method

  $20,790.60

  Geo Method

  $20,790.60

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $52,099.50

  Mixed-Use / Specialty

  $26,621.10

  Hospitality / Lodging

  $19,531.10

  Office

  $26,463

  Institutional / Educational

  $27,675.20

  Residential Income

  $32,380

  Multifamily

  $38,834.80

  Automotive / Energy

  $23,721.60

  Parking / Income-Based Land

  $8,186.04

  Restaurant / Food Service

  $13,845.80

  Healthcare / Senior Housing

  $27,299.40

Location Insight

City

Brooklyn

County

Kings

State

New York

Latitude

40.6341

Longitude

-74.0077

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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