Automated Parking Facility in
For Sale
$2,998,000
Pending
102 Wyckoff Ave, Brooklyn, NY 11237
Six-story automated parking facility with redevelopment potential in prime location.
Property Size10,880 SF
Lot Size0.12 Acres
Days on Market154
Property Features for 102 Wyckoff Ave
General Information
Standard status
Pending
Size
10,880 SF
Lot size
0.12 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$33,803
Building Details
Building Size
10,880 SF
Year Built
2010
Listing Agency:
Prime America Real Estate
(646) 371-6141
Listed By:
Gobinda K. Lama · License #10311207567
(646) 371-6141
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 8 at 6:22AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Prime America Real Estate
Investment Insights
Based on property information with market context.
This six-story automated parking facility, featuring 56 spaces, is situated in the heart of Bushwick and Ridgewood. Its location is directly opposite Wyckoff Heights Medical Center and adjacent to the Dekalb L Train Station. The property is positioned within a bustling commercial hub, benefiting from high visibility and foot traffic. This value-add property presents opportunities for expansion or redevelopment. Potential uses include upscale residential development, medical facilities, commercial facilities, or a mixed-use project. The existing parking facility can also be utilized to generate immediate returns.
Key Highlights
- Prime location in thriving Bushwick/Ridgewood, directly opposite Wyckoff Heights Medical Center and next to Dekalb L Train Station.
- Existing 6‑story automated parking facility with 56 spaces for immediate returns.
- High visibility and foot traffic in a bustling commercial hub.
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
$193,557
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
6.46%
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%
$3,871,140
$3.9M
Cap Rate 7%
$2,765,100
$2.8M
Cap Rate 9%
$2,150,633
$2.2M
Market Conditions
NOI Build-Up for 10,880 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
$289.8K $26.64/SF
− Vacancy
−$13.3K −$1.23/SF
EGI
$276.5K $25.41/SF
− OpEx
−$83.0K −$7.62/SF
NOI
$193.6K $17.79/SF
Area
Brooklyn, NY
Vacancy
4.60%
Lease Rate
$26.64 /SF/Yr
Expense Ratio
30.00%
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%
$3,871,140
Cap Rate 7%
$2,765,100
Cap Rate 9%
$2,150,633
Alternative Uses
Best Use
Retail
$7.45M
$6.52M – $8.70M
NOI $521,746 @ 7.0% cap · market cap 17.40%
Second Best
Mixed Use
$5.64M
$4.94M – $6.58M
NOI $394,944 @ 7.0% cap · market cap 13.17%
Theoretical Best
Specialty Retail
$9.01M
$7.88M – $10.51M
NOI $630,605 @ 7.0% cap · market cap 21.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,988
Businesses Nearby
414k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 43%
Dining 30%
Shops & Services 16%
Electronics 5%
Food Bazaar Supermarket
Groceries
76,560 visits/mo
0.4 miles
Food Bazaar Supermarket
Groceries
51,452 visits/mo
0.3 miles
Burger King
Dining
36,411 visits/mo
0.3 miles
White Castle
Dining
24,528 visits/mo
0.2 miles
Dunkin' Donuts
Dining
23,384 visits/mo
0.3 miles
Demographics for 11237, NY
49,418
Population
18,801
Households
2.6
Avg Household Size
31
Median Age
41%
College-Educated
76%
High-School Grad
1.0 sq mi
ZIP Area
49,418
Density / Sq Mi
$82,570
Median Household Income
$43,421
Median Earnings
$2,109
Median Rent
$1,063,700
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Zipcar — 1209 Dekalb Ave, Brooklyn, NY 11221
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- Cibao Express — 693 Knickerbocker Ave, Brooklyn, NY 11221
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Frequently Asked Questions
What type of property is this?
Parking lot & garage - Six-story automated parking facility with redevelopment potential in prime location.
Where is this parking lot & garage located?
The property is located at 102 Wyckoff Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,998,000.
What are key features of this property?
This property features: Prime location in thriving Bushwick/Ridgewood, directly opposite Wyckoff Heights Medical Center and next to Dekalb L Train Station.; Existing 6‑story automated parking facility with 56 spaces for immediate returns.; High visibility and foot traffic in a bustling commercial hub.
