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 properties

Property subtype

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%

  $2,173,261

  6.5%

  $2,006,087

  7%

  $1,862,795

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,717,526

  Geo Method

  $1,717,526

• Alternative Use

  Use

  Valuation

  Residential

  $2,487,548

  Hospitality

  $2,278,581

  Educational

  $1,895,752

  Medical

  $1,960,950

  Retail

  $2,948,948

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

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].