Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    East Williamsburg Retail Opportunity Title is generated by Realmo AI

    1059 Flushing Avenue, Brooklyn, NY 11237

    View on Map
    Claim this Listing
    For Lease
    $10,115/Mo $60 SF/Yr (calc)

    2,023 SF retail space in prime location.

    Type:Commercial
    Property size:
    2,023 SF
    Added:
    Mar 9, 2026
    Days on Market:
    90
    Last Refresh:
    Apr 1 at 8:51 pm

    Property Features for 1059 Flushing Avenue

    General Information

    Standard status
    Active
    Size
    2,023 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    1931

    We can help!

    Listing Contact
    Gary Hardyal
    Gary Hardyal

    Listing agent Gary Hardyal License #10401289909

    Listing office Williamsburg

    Listing date Mar 9, 2026

    Source Corcoran

    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 Williamsburg

    HighLights

    • Prime East Williamsburg location on Flushing Avenue near the Bushwick border.
    • Turnkey infrastructure from prior restaurant/bar use.
    • High ceilings (nearly 12 ft.) and 23 ft. of prime commercial frontage with a curb cut.
    • Close proximity to major subway stations (Morgan Ave/Jefferson St (L) and Central Ave (M)).
    • Located near prominent businesses like Netflix, Rivian, Elsewhere, Ichiran, and Roberta's.
    • Flexible space suitable for a wide range of uses.

    Overview

    This 2,023 SF ground-floor retail space is located on Flushing Avenue in East Williamsburg, near the Bushwick border. The space features 23 ft of frontage with a curb cut and nearly 12 ft ceiling heights. The space has existing infrastructure from its prior use as a restaurant and bar. It is suitable for restaurant, bar, QSR, food & beverage, retail, health & wellness, medical, creative studio, tech, office, logistics, and community facility uses. The property is located near Netflix, Rivian, Elsewhere, Brooklyn Made, Ichiran, Sea Wolf, Bunker, Roberta's, House of Yes, Fine & Raw Chocolate, and Honey. The Morgan Ave/Jefferson St (L) and Central Ave (M) subway stations are located nearby. National tenants and major retailers are also located in the area.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.929984
    Latitude
    40.704507

    Nearby Similar for Lease

    • $4,500/Mo
      1,200 SF

      Brooklyn Retail Leasing Opportunity

      Prime retail spaces available in a bustling Brooklyn location.
      986 Gates Ave, Brooklyn, NY 11221
      View Details
    • $15,000/Mo
      2,503 SF

      Bensonhurst Medical Office For Lease

      Newly renovated medical office space in prime Brooklyn location.
      849 53rd Street, Brooklyn, NY 11220
      View Details
    • $4,500/Mo
      1,000 SF

      Modern Medical Office Suite Available

      Newly constructed, fully built-out medical office space for rent.
      849 53rd Street, Brooklyn, NY 11220
      View Details
    • $9,000/Mo
      2,200 SF

      Brooklyn Medical Suites For Lease

      Modern medical suites in elevator building, flexible leasing options.
      849 53rd Street, Brooklyn, NY 11220
      View Details
    • $5,000/Mo
      580 SF

      Williamsburg Waterfront Commercial Space

      Prime Williamsburg location, ideal for restaurant or cafe concept.
      416 Kent Avenue, Williamsburg, NY 11249
      View Details
    • $6,500/Mo
      1,650 SF

      Brooklyn Retail Space Near Mall

      Renovated retail space in high-traffic Brooklyn location.
      6216 Avenue U, Brooklyn, NY 11234
      View Details
    • $24,000 SF/Yr
      6,512 SF

      Ground-Floor Medical Office Suite

      Ground-floor suite with exam and consultation rooms, plus additional private lower-level office space for flexible healthcare or professional use.
      575 Kings Highway, Brooklyn, NY 11223
      View Details
    • $1,000/Mo
      80 SF

      Renovated Wellness Treatment Room

      Gut-renovated suite with kitchenette and split HVAC, ideal for a professional technician needing secure, private client wait space.
      2198A Flatbush Avenue, Brooklyn, NY 11234
      View Details
    • $1,400/Mo
      140 SF

      Gut-Renovated Office Suite

      Recently renovated lower-level corner suite with private key-fob access, split HVAC, and dedicated waiting areas for client-ready operations.
      2198A Flatbush Avenue, Brooklyn, NY 11234
      View Details
    • $6,900/Mo
      2,700 SF

      Versatile Greenwood Heights Commercial Space

      Expansive 2,700 SF commercial space in Greenwood Heights, Brooklyn.
      663 3rd Avenue, Brooklyn, NY 11232
      View Details
    • $5,000/Mo
      700 SF

      Brooklyn Storefront on Nostrand Avenue

      High-visibility commercial space in Bedford-Stuyvesant with excellent transit access.
      359 Nostrand Avenue, Brooklyn, NY 11216
      View Details
    • $5,500/Mo
      1,077 SF

      Sunset Park Commercial Elevator Condo

      Commercial condo for rent in Sunset Park, Brooklyn.
      828 57th Street, Brooklyn, NY 11220
      View Details

    FAQs

    What type of property is this?
    Retail space - 2,023 SF retail space in prime location.
    Where is this retail space located?
    The property is located at 1059 Flushing Avenue Brooklyn, NY.
    What is the lease rate?
    The lease rate is $10,115 /Mo.
    What are key features of this property?
    This property features: Prime East Williamsburg location on Flushing Avenue near the Bushwick border.; Turnkey infrastructure from prior restaurant/bar use.; High ceilings (nearly 12 ft.) and **23 ft. of prime commercial frontage with a curb cut.**
    (646) 763-7249
    We can help!
    Listing Contact
    Gary Hardyal
    Gary Hardyal
    Real Estate License ID: 10401289909
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1059 Flushing Avenue, Brooklyn, NY 11237
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!