Two-Story Brick
For Sale
$6,999,000
857 Meeker Avenue, Brooklyn, NY 11222
Commercial, Brooklyn, NY
Property Size10,038 SF
Lot Size0.27 Acres
Price / SF$699.90
Days on Market273
Property Features for 857 Meeker Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
M3-1
Subdivision
Greenpoint
Standard status
Active
Size
10,000 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Annual Amount
64072
Building Details
Floors in Building
2
Number of units
1
Building materials
Brick
Roof type
Flat
Listing Agency:
Winzone Realty Inc
Listed By:
Xiao Feng Pan
(718) 676-6611
Added: Dec 9, 2025
Changed: Sep 5
Last Checked: Sep 8 at 3:06PM
MLS# 497772
Copyright © 2026 Brooklyn New York Multiple Listing Service. 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 vacant, two-story brick warehouse is zoned M3-1 and configured for industrial use. The first floor supports heavy manufacturing, while the second floor includes office space. Interior features include cement flooring, a wet sprinkler system, heavy three-phase electrical power, and a 29-foot roof height with 12 feet of ceiling clearance.
The property includes a 0.2743-acre side lot with cement pavement and 13,862 sq ft of remaining buildable floor area. Access is provided through three 10 ft by 10 ft entry gates, including two loading docks, along with two street-level gates and dropped curbs. The corner configuration supports both owner-user and industrial occupancy considerations.
The property includes a 0.2743-acre side lot with cement pavement and 13,862 sq ft of remaining buildable floor area. Access is provided through three 10 ft by 10 ft entry gates, including two loading docks, along with two street-level gates and dropped curbs. The corner configuration supports both owner-user and industrial occupancy considerations.
Key Highlights
- M3‑1 zoning with first‑floor heavy manufacturing capability
- 0.2743‑acre side lot with cement pavement
- 13,862 sq ft of remaining buildable floor area
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
$240,240
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
3.43%
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%
$4,804,800
$4.8M
Cap Rate 7%
$3,432,000
$3.4M
Cap Rate 9%
$2,669,333
$2.7M
Market Conditions
NOI Build-Up for 10,000 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
$420.0K $42.00/SF
− Vacancy
−$50.4K −$5.04/SF
EGI
$369.6K $36.96/SF
− OpEx
−$129.4K −$12.94/SF
NOI
$240.2K $24.02/SF
Area
Brooklyn, NY
Vacancy
12.00%
Lease Rate
$42.00 /SF/Yr
Expense Ratio
35.00%
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%
$4,804,800
Cap Rate 7%
$3,432,000
Cap Rate 9%
$2,669,333
Alternative Uses
Best Use
Flex RnD
$3.43M
$3.00M – $4.00M
NOI $240,240 @ 7.0% cap · market cap 3.43%
Second Best
Warehouse
$3.09M
$2.70M – $3.60M
NOI $216,024 @ 7.0% cap · market cap 3.09%
Theoretical Best
Specialty Retail
$8.28M
$7.25M – $9.66M
NOI $579,600 @ 7.0% cap · market cap 8.28%
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
5
Drive-in doors
Yes
Heavy power
Yes
Sprinkler system
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,078
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 - Vacant industrial building with heavy manufacturing capability, office space, loading docks, and three-phase electrical service.
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: M3‑1 zoning with first‑floor heavy manufacturing capability; 0.2743‑acre side lot with cement pavement; 13,862 sq ft of remaining buildable floor area
