Historic Four-Story Flex
For Sale
$5,500,000
71 Montrose Avenue, Brooklyn, NY 11206
Commercial Sale, Brooklyn, NY
Property Size8,200 SF
Lot Size0.06 Acres
Price / SF$670.73
Days on Market1163
Property Features for 71 Montrose Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R6
Parking
2
Directions
www.google.com/maps
Standard status
Active
APN
03050-0030
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
31051
Amenities
freight elevator
rooftop garden
Building Details
Year built
1920
Floors in Building
4
Listing Agency:
Trademarko Realty Inc
(718) 502-5141
Listed By:
Marek Sobolewski · License #10311207231
(718) 710-8170
Added: Jul 4, 2023
Changed: Aug 19
Last Checked: Sep 8 at 3:06AM
MLS# L3489221
Copyright © 2026 OneKey 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.
Built in 1920, this four-story flex property contains 8,200 square feet within a 25-foot-wide by 100-foot-deep building. The space is currently used for film and photographic production and may continue in that configuration or be delivered vacant. Interior features include 12- to 14-foot ceilings, a 13-foot roll-up gate, a stainless steel freight elevator, and loading access with room for two trucks.
The property carries R6 zoning while retaining grandfathered industrial use, with the source information identifying potential for residential, mixed-use, or industrial-commercial conversion. A private rooftop garden of approximately 1,000 square feet connects to a penthouse office, and a second rooftop garden faces the surrounding street and city park. The building is near the L, M, J, and G subway lines, with the L stop 4 blocks away and the M, J, and G stops approximately block and a half away.
The property carries R6 zoning while retaining grandfathered industrial use, with the source information identifying potential for residential, mixed-use, or industrial-commercial conversion. A private rooftop garden of approximately 1,000 square feet connects to a penthouse office, and a second rooftop garden faces the surrounding street and city park. The building is near the L, M, J, and G subway lines, with the L stop 4 blocks away and the M, J, and G stops approximately block and a half away.
Key Highlights
- 8,200‑square‑foot, four‑story building on a 25‑foot‑wide by 100‑foot‑deep footprint
- R6 zoning with grandfathered industrial use and identified residential, mixed‑use, and industrial‑commercial conversion potential
- 13‑foot roll‑up gate, loading dock, and parking for two trucks
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
$297,660
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
5.41%
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%
$5,953,200
$6.0M
Cap Rate 7%
$4,252,286
$4.3M
Cap Rate 9%
$3,307,333
$3.3M
Market Conditions
NOI Build-Up for 8,200 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
$541.2K $66.00/SF
− Vacancy
−$64.9K −$7.92/SF
EGI
$476.3K $58.08/SF
− OpEx
−$178.6K −$21.78/SF
NOI
$297.7K $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%
$5,953,200
Cap Rate 7%
$4,252,286
Cap Rate 9%
$3,307,333
Alternative Uses
Best Use
Mixed Use
$4.25M
$3.72M – $4.96M
NOI $297,660 @ 7.0% cap · market cap 5.41%
Second Best
Office B
$2.92M
$2.56M – $3.41M
NOI $204,574 @ 7.0% cap · market cap 3.72%
Theoretical Best
Specialty Retail
$6.79M
$5.94M – $7.92M
NOI $475,272 @ 7.0% cap · market cap 8.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14 ft
Clear height
Location Intelligence
Trade Area within ½ mile
7,666
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11206, NY
91,549
Population
34,838
Households
2.6
Avg Household Size
30
Median Age
36%
College-Educated
77%
High-School Grad
1.4 sq mi
ZIP Area
65,392
Density / Sq Mi
$57,280
Median Household Income
$44,145
Median Earnings
$1,558
Median Rent
$822,100
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Industrial character combines production space, loading access, rooftop gardens, and a private penthouse office.
Where is this flex space located?
The property is located at 71 Montrose Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: 8,200‑square‑foot, four‑story building on a 25‑foot‑wide by 100‑foot‑deep footprint; R6 zoning with grandfathered industrial use and identified residential, mixed‑use, and industrial‑commercial conversion potential; 13‑foot roll‑up gate, loading dock, and parking for two trucks
