Two-Story Brick
For Sale
$6,999,000
Pending
857 Meeker Avenue, Brooklyn, NY 11222
COMMERCIAL - Brooklyn, NY
Property Size10,038 SF
Lot Size0.27 Acres
Days on Market258
Property Features for 857 Meeker Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
M3-1
Parking features
Driveway
Standard status
Pending
APN
02694-0015
Lot size
0.27 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
64072
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Building Details
Year built
1931
Building materials
Brick
Listing Agency:
Winzone Realty Inc
(718) 899-7000
Listed By:
Margaret K. Klusek · License #40KL0877311
(718) 899-7000
Added: Nov 24, 2025
Changed: Aug 4
Last Checked: Aug 9 at 11:06AM
MLS# 938752
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.
Two-story brick warehouse in Brooklyn’s Greenpoint area, offered as a corner property that can be delivered vacant. The building totals 10,000 SF and includes an office area on the second floor, with the first floor suited for heavy manufacturing use. The site also includes a 6,950 SF cement-paved side lot. The total as-built floor area is 10,038 SF, with 13,862 SF of remaining buildable floor area. Building features include cement floors, three 10 ft by 10 ft entry gates, and two loading docks. Roof height is 29 feet with a 12-foot ceiling clearance. A wet sprinkler system is in place, and the property has heavy electric power with three phases. Central air is also listed.
Access includes two street entry gates with a dropped curb, which can be accessed from Maker Avenue and Varick St. The property is on public water and served by public sewer.
Zoned M3-1, the building configuration supports either owner use with manufacturing on the first floor and office on the second, or investment through leasing with a range of industrial uses.
Access includes two street entry gates with a dropped curb, which can be accessed from Maker Avenue and Varick St. The property is on public water and served by public sewer.
Zoned M3-1, the building configuration supports either owner use with manufacturing on the first floor and office on the second, or investment through leasing with a range of industrial uses.
Key Highlights
- Zoned M3‑1 two‑story brick warehouse deliverable vacant corner property
- Total as‑built floor area 10,038 SF with 13,862 SF remaining buildable floor area
- Side lot with cement pavement totaling 6,950 SF
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
$216,845
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
3.10%
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%
$4,336,900
$4.3M
Cap Rate 7%
$3,097,786
$3.1M
Cap Rate 9%
$2,409,389
$2.4M
Market Conditions
NOI Build-Up for 10,038 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
$267.4K $26.64/SF
− Vacancy
−$12.3K −$1.23/SF
EGI
$255.1K $25.41/SF
− OpEx
−$38.3K −$3.81/SF
NOI
$216.8K $21.60/SF
Area
Brooklyn, NY
Vacancy
4.60%
Lease Rate
$26.64 /SF/Yr
Expense Ratio
15.00%
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%
$4,336,900
Cap Rate 7%
$3,097,786
Cap Rate 9%
$2,409,389
Alternative Uses
Best Use
Warehouse
$3.10M
$2.71M – $3.61M
NOI $216,845 @ 7.0% cap · market cap 3.10%
Second Best
Industrial
$2.55M
$2.23M – $2.98M
NOI $178,578 @ 7.0% cap · market cap 2.55%
Theoretical Best
Specialty Retail
$8.31M
$7.27M – $9.70M
NOI $581,802 @ 7.0% cap · market cap 8.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12 ft
Clear height
2
Dock-high doors
2
Drive-in doors
Yes
Heavy power
Yes
Sprinkler system
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,561
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 11222, NY
41,957
Population
21,917
Households
1.9
Avg Household Size
35
Median Age
65%
College-Educated
94%
High-School Grad
1.5 sq mi
ZIP Area
27,971
Density / Sq Mi
$123,963
Median Household Income
$74,237
Median Earnings
$2,595
Median Rent
$1,245,600
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Two-story brick corner warehouse with M3-1 zoning, wet sprinkler system, and heavy manufacturing potential on a vacant site.
Where is this warehouse located?
The property is located at 857 Meeker Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $6,999,000.
What are key features of this property?
This property features: Zoned M3‑1 two‑story brick warehouse deliverable vacant corner property; Total as‑built floor area 10,038 SF with 13,862 SF remaining buildable floor area; Side lot with cement pavement totaling 6,950 SF
