Waterfront Warehouse Development
For Sale
Contact for pricing
11 Franklin St, Brooklyn, NY 11222
One-story facility with a Public Assembly Certificate of Occupancy, full HVAC, and ADA compliance.
Property Size115,200 SF
Price / SF$477.43
Days on Market190
Property Features for 11 Franklin St
General Information
Standard status
Active
Size
115,200 SF
Property subtype
Industrial
Zoning
R6 /C2-4
Lease Type
NNN
Building Details
Year Built
1931
Year Renovated
1992
Buildings
1
Listing Agency:
SERHANT
Listed By:
Bernadette Brennan · License #NY 10301221862
(646) 480-7665
Source:
Crexi
Added: Apr 14
Changed: Oct 10
Last Checked: Oct 19 at 7:27AM
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 SERHANT
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Investment Insights
Based on property information with market context.
The property includes a one-story warehouse and event facility built in 1931, with 15,480 square feet of space on a 25,000-square-foot lot. Ceiling heights range from 20 to 30 feet, and the building has full HVAC, ADA compliance, and a flexible interior currently used for warehouse, event, and recreational purposes. A Certificate of Occupancy for Public Assembly is in place.
Located at 11 Franklin Street in Brooklyn, the full-block-through waterfront site is zoned R6/C2-4. The property supports approximately 115,200 buildable square feet under a maximized program, with potential configurations that include residential, inclusionary, community facility, and commercial uses.
Located at 11 Franklin Street in Brooklyn, the full-block-through waterfront site is zoned R6/C2-4. The property supports approximately 115,200 buildable square feet under a maximized program, with potential configurations that include residential, inclusionary, community facility, and commercial uses.
Key Highlights
- Approximately 115,200 buildable square feet under a maximized program
- 15,480‑square‑foot one‑story warehouse and event facility
- 25,000‑square‑foot waterfront lot at 11 Franklin St, Brooklyn, NY 11222
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$2,767,565
Cap Rate
5.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$55,351,300
$55.4M
Cap Rate 7%
$39,536,643
$39.5M
Cap Rate 9%
$30,750,722
$30.8M
Market Conditions
NOI Build-Up for 115,200 SF
Gross rent
$4.84M $42.00/SF
− Vacancy
−$580.6K −$5.04/SF
EGI
$4.26M $36.96/SF
− OpEx
−$1.49M −$12.94/SF
NOI
$2.77M $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 Rate 5%
$55,351,300
Cap Rate 7%
$39,536,643
Cap Rate 9%
$30,750,722
Alternative Uses
Best Use
Flex RnD
$39.54M
$34.59M – $46.13M
NOI $2,767,565 @ 7.0% cap · market cap 5.03%
Second Best
Warehouse
$35.55M
$31.11M – $41.48M
NOI $2,488,594 @ 7.0% cap · market cap 4.52%
Theoretical Best
Specialty Retail
$95.39M
$83.46M – $111.28M
NOI $6,676,992 @ 7.0% cap · market cap 12.14%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
6,658
Businesses Nearby
Well-served
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Northeast region
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Frequently Asked Questions
What type of property is this?
Warehouse - One-story facility with a Public Assembly Certificate of Occupancy, full HVAC, and ADA compliance.
Where is this warehouse located?
The property is located at 11 Franklin St Brooklyn, NY.
What is the asking price?
The asking price for this property is $55,000,000.
What are key features of this property?
This property features: Approximately 115,200 buildable square feet under a maximized program; 15,480‑square‑foot one‑story warehouse and event facility; 25,000‑square‑foot waterfront lot at 11 Franklin St, Brooklyn, NY 11222
