5803 7Th AveBrooklyn, NY 11220

Property Details for 5803 7Th Ave

Year built

1917

Lot size

0.06 AC

Property size (Sq ft)

13,145 SF

Zone code

R7A

Property type

Office buildings

APN

00858-0010

APU

8580010

Description

This exceptional commercial land parcel, located at 5803 7th Avenue, 1st Floor, Brooklyn, NY 11220, presents a unique investment opportunity. The 2,700 square foot lot is situated in a prime location at the intersection of 7th Avenue and 58th Street. Currently improved with a 2,300 square foot building, previously occupied by a beauty school and salon, this property offers significant potential for redevelopment or continued operation under a new lease. The existing tenant is under a three-year lease with a five-year option, featuring a 3% annual rent increase. The landlord is prepared to execute a new lease agreement with a qualified buyer. The property's total square footage is 1,620 square feet, with a ceiling height specified as "Other." This property is ideal for investors seeking a strong foothold in a vibrant Brooklyn commercial district. The address is easily accessible and benefits from high visibility due to its location on a major thoroughfare. The existing lease provides immediate income potential, while the property's size and location offer considerable long-term growth prospects. Serious inquiries are encouraged.

• CAP approach

  CAP return

  Valuation

  6%

  $2,463,030

  6.5%

  $2,273,570

  7%

  $2,111,170

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,717,530

  Geo Method

  $1,717,530

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $4,476,130

  Retail / Commercial

  $2,295,340

  Mixed-Use / Specialty

  $2,287,150

  Hospitality / Lodging

  $1,678,010

  Institutional / Educational

  $2,377,720

  Residential Income

  $2,781,930

  Multifamily

  $3,336,500

  Automotive / Energy

  $2,038,040

  Parking / Income-Based Land

  $703,304

  Restaurant / Food Service

  $1,189,570

  Healthcare / Senior Housing

  $2,345,430

Location Insight

City

Brooklyn

County

Kings

State

New York

Latitude

40.6377

Longitude

-74.0104

CBSA code

35620

CBSA name

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

Property Tax & Assessments

FAQs

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