1229 60Th StBrooklyn, NY 11219

Property Details for 1229 60Th St

Year built

1931

Lot size

0.09 AC

Property size (Sq ft)

5,300 SF

Zone code

M1-1

Property type

Manufacturing properties

APN

05711-0064

APU

57110064

Description

This exceptional 5,300-square-foot warehouse, located at 1229 60th Street in Brooklyn, New York (zip code 11219), presents a unique investment opportunity. Built in 1931, this two-story industrial property sits on a 4,007-square-foot lot in Kings County. The building is currently configured as a single-tenant space, offering flexibility for a variety of uses. The main warehouse area encompasses approximately 4,000 square feet, boasting impressive ceiling heights ranging from 15 to 18 feet. An additional 1,300 square feet is available on the second floor, perfectly suited for office space or other supplementary uses. The property's M1-1 zoning allows for diverse applications, including potential conversion into three separate rental units. Three distinct entrances facilitate this possibility, with Unit 1 at 1227 60th Street providing access to both office and warehouse areas. The subject property's entrance is a separate warehouse access point. This prime Brooklyn location offers excellent potential for both business and investment. The property's size, versatile layout, and zoning make it an attractive option for a wide range of commercial enterprises.

• CAP approach

  CAP return

  Valuation

  6%

  $1,955,150

  6.5%

  $1,804,750

  7%

  $1,675,840

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,108,000

  Geo Method

  $1,108,000

• Alternative Use

  Use

  Valuation

  Retail / Commercial

  $925,468

  Mixed-Use / Specialty

  $922,169

  Hospitality / Lodging

  $676,566

  Office

  $916,691

  Institutional / Educational

  $958,684

  Residential Income

  $1,121,660

  Multifamily

  $1,345,260

  Automotive / Energy

  $821,729

  Parking / Income-Based Land

  $283,569

  Restaurant / Food Service

  $479,627

  Healthcare / Senior Housing

  $945,667

Location Insight

City

Brooklyn

County

Kings

State

New York

Latitude

40.6299

Longitude

-73.9997

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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