Vacant Two-Story Storefront
For Sale
$1,149,900
5215 Church Ave, Brooklyn, NY 11203
Commercial Sale, Brooklyn, NY
Property Size2,698 SF
Lot Size0.04 Acres
Price / SF$426.20
Days on Market277
Property Features for 5215 Church Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
6
Half bathrooms
6
Rooms
Bathroom 4, Bathroom 3, Bathroom 6, Bathroom 5, Bathroom 2, Bathroom 1
Subdivision
East Flatbush
Standard status
Active
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
20981
Utilities
Heating system
Radiant, Oil
Building Details
Year built
1931
Floors in Building
2
Listing Agency:
5 BORO REALTY CORP
(917) 705-0005
Listed By:
Nina Sabag · License #10311207532
855-305-DEAL
Added: Dec 1, 2025
Changed: Sep 4
Last Checked: Sep 4 at 6:06PM
MLS# 11612988
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.
This fully vacant two-story storefront building contains approximately 2,698 square feet across two levels, with 19 feet of frontage along Church Avenue. The property also includes a full basement, rear yard, and six bathrooms. Built in 1931, the building is served by radiant and oil heating.
Located at 5215 Church Avenue in East Flatbush, Brooklyn, the property occupies a commercial corridor within a densely populated neighborhood. Its R5/C1-2 zoning and existing configuration support consideration for office, medical, wellness, fitness, educational, retail, and daycare-related uses, subject to applicable approvals. The building is being delivered vacant for renovation, occupancy, or repositioning.
Located at 5215 Church Avenue in East Flatbush, Brooklyn, the property occupies a commercial corridor within a densely populated neighborhood. Its R5/C1-2 zoning and existing configuration support consideration for office, medical, wellness, fitness, educational, retail, and daycare-related uses, subject to applicable approvals. The building is being delivered vacant for renovation, occupancy, or repositioning.
Key Highlights
- Approximately 2,698 sq ft across two levels
- 19 feet of Church Avenue frontage
- Full basement and rear yard included
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
$67,310
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
5.85%
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%
$1,346,200
$1.3M
Cap Rate 7%
$961,571
$961.6K
Cap Rate 9%
$747,889
$747.9K
Market Conditions
NOI Build-Up for 2,698 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
$116.6K $43.20/SF
− Vacancy
−$26.8K −$9.94/SF
EGI
$89.7K $33.26/SF
− OpEx
−$22.4K −$8.32/SF
NOI
$67.3K $24.95/SF
Area
Brooklyn, NY
Vacancy
23.00%
Lease Rate
$43.20 /SF/Yr
Expense Ratio
25.00%
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%
$1,346,200
Cap Rate 7%
$961,571
Cap Rate 9%
$747,889
Alternative Uses
Best Use
Retail
$1.85M
$1.62M – $2.16M
NOI $129,381 @ 7.0% cap · market cap 11.25%
Second Best
Office B
$961.6K
$841.4K – $1.12M
NOI $67,310 @ 7.0% cap · market cap 5.85%
Theoretical Best
Specialty Retail
$2.23M
$1.95M – $2.61M
NOI $156,376 @ 7.0% cap · market cap 13.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Null-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,011
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11203, NY
81,824
Population
33,434
Households
2.4
Avg Household Size
41
Median Age
26%
College-Educated
88%
High-School Grad
2.1 sq mi
ZIP Area
38,964
Density / Sq Mi
$68,028
Median Household Income
$47,302
Median Earnings
$1,566
Median Rent
$677,700
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Vacant commercial space with a full basement, rear yard, and R5/C1-2 zoning.
Where is this storefront property located?
The property is located at 5215 Church Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,149,900.
What are key features of this property?
This property features: Approximately 2,698 sq ft across two levels; 19 feet of Church Avenue frontage; Full basement and rear yard included
