Three-Story Church
For Sale
$6,200,000
Pending
180 Van Buren St, Brooklyn, NY 11221
Commercial Sale, Brooklyn, NY
Property Size12,610 SF
Lot Size0.23 Acres
Days on Market252
Property Features for 180 Van Buren St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Residential
Standard status
Pending
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
46129
Building Details
Year built
1900
Listing Agency:
MYC & ASSOCIATES INC
Listed By:
Marc Yaverbaum
(347) 273-1258
Added: Jan 9
Changed: Sep 4
Last Checked: Sep 18 at 1:06PM
MLS# 11629342
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The property contains a three-story church building constructed in 1900, with approximately 12,610 SF of above-grade area and an additional basement below grade. The existing improvement occupies a rectangular 10,000 square foot lot and is classified within the R6A zoning district.
Positioned at the intersection of Van Buren Street and Marcus Garvey Boulevard in Brooklyn, the property offers a prominent corner setting within the Bedford-Stuyvesant neighborhood. Its physical configuration combines a historic religious facility with a sizable urban lot and basement component.
Positioned at the intersection of Van Buren Street and Marcus Garvey Boulevard in Brooklyn, the property offers a prominent corner setting within the Bedford-Stuyvesant neighborhood. Its physical configuration combines a historic religious facility with a sizable urban lot and basement component.
Key Highlights
- 3‑story church building constructed in 1900
- Approximately 12,610 SF plus a below‑grade basement
- Rectangular 10,000 square foot lot
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$457,743
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.38%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$9,154,860
$9.2M
Cap Rate 7%
$6,539,186
$6.5M
Cap Rate 9%
$5,086,033
$5.1M
Market Conditions
NOI Build-Up for 12,610 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$832.3K $66.00/SF
− Vacancy
−$99.9K −$7.92/SF
EGI
$732.4K $58.08/SF
− OpEx
−$274.6K −$21.78/SF
NOI
$457.7K $36.30/SF
Area
Brooklyn, NY
Vacancy
12.00%
Lease Rate
$66.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$9,154,860
Cap Rate 7%
$6,539,186
Cap Rate 9%
$5,086,033
Alternative Uses
Best Use
Mixed Use
$6.54M
$5.72M – $7.63M
NOI $457,743 @ 7.0% cap · market cap 7.38%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$10.44M
$9.14M – $12.18M
NOI $730,876 @ 7.0% cap · market cap 11.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,936
Businesses Nearby
Explore this area
Business Placement
Demographics for 11221, NY
89,222
Population
38,690
Households
2.3
Avg Household Size
33
Median Age
42%
College-Educated
84%
High-School Grad
1.4 sq mi
ZIP Area
63,730
Density / Sq Mi
$85,122
Median Household Income
$49,202
Median Earnings
$2,055
Median Rent
$1,061,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Church & religious facility - R6A-zoned church property with a substantial existing building and below-grade basement.
Where is this church & religious facility located?
The property is located at 180 Van Buren St Brooklyn, NY.
What is the asking price?
The asking price for this property is $6,200,000.
What are key features of this property?
This property features: 3‑story church building constructed in 1900; Approximately 12,610 SF plus a below‑grade basement; Rectangular 10,000 square foot lot
