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    The Largest CRE Database in the US with Over 1 Million Listings

    2281 Church Avenue Brooklyn, NY 11226

    Sponsored
    Source: https://caprijetrealty.com
    For Sale
    $15,500,000

    2-story Mixed Use Property For Sale

    Property size:
    11,828 SF

    Description

    Added:
    May 8, 2025
    Days on Market:
    276
    JACKIE HENRY REALTY has been retained on an exclusive basis to arrange for the sale of 2281 Church Avenue, Brooklyn, New York, a 2-story mixed use property zoned C4-4A, encompassing 11,828 Sq. Ft over 2 floors (not including the basement). Lot size is 6,392. Per Zoning Analysis done by Architect, there may be development rights allowing for an additional 13,740 SF of building space. Building sits on a corner lot in a prime & excellent location for future development. There are 7 store fronts on the ground level and a fully equipped catering hall with kitchen and bathrooms on top floor. Home To Woodbine Caterers. Excellent traffic flow. Close proximity to train station. Showing by Appointments through listing Broker or Showing Time. Proof of funds and/or mortgage pre-approval preferred prior to confirming showing requests. Please Allow 3 Hours Minimum Notice For All Showings. Please Do Not Disturb Tenants. Updated financials are not available. Seller has requested the property be priced on the best and highest and not on its current use based on the zoning, location, other developments in close proximity, etc.

    Listing Provided by: Jacqueline Henry Thompson , Jackie Henry Realty LLC 845-249-8088
    Co-Listed by: Michelle Richson-Wellington

    Property Features for 2281 Church Avenue

    General Information

    Property type
    Other mixed-use properties
    Square Feet
    11,828 SF
    Price / Square Foot
    $1,310
    Elevators
    N/A
    Lot Size
    11,828 SF

    Building Details

    Buildings
    1
    Stories
    2

    We can help!

    Listing Contact
    Jacqueline Henry Thompson

    Learn more

    Property Insight Report
    Location Intelligence

    Current Use by Public Records

    Four Seasons Restaurant D&M Hair Studio Hair Salon 3pleclick Computers Computer & Electronic Repair

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    State
    New York
    Longitude
    -73.9146144
    Latitude
    40.6562428

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    FAQs

    What type of property is this?
    Mixed-use property - 2-story Mixed Use Property For Sale
    Where is this mixed-use property located?
    The property is located at 2281 Church Avenue Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $15,500,000.
    (845) 249-8088
    Request Owner's contact information
    2281 Church Avenue Brooklyn, NY 11226
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    Brooklyn, NY 11226
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    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
    2281 Church Avenue Brooklyn, NY 11226
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    We can help!
    Listing Contact
    Jacqueline Henry Thompson
    (845) 249-8088
    Learn more
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