Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3 Flushing Ave Brooklyn, NY 11205

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail space available near Wegmans Grocery, Brooklyn Navy Yard.

    Property size:
    18,079 SF
    Lot size:
    6.29 Acres

    Property Features for 3 Flushing Ave

    General Information

    Size
    18,079 SF
    Lot size
    6.29 Acres

    We can help!

    Listing Contact
    Jason Pennington
    Jason Pennington
    Source: Moodyscre

    Listing Agency: RIPCO Real Estate - Brooklyn Listing Agent: Jason Pennington

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Retail Space Near Wegmans Grocery

    This retail space is anchored by New York City’s first Wegmans Grocery, which is expected to attract 75,000 customers per week. The location is projected to have 20,000 workers adjacent at Brooklyn Navy Yard. All uses are considered, with flexible divisions available from 1,500 square feet to 40,000 square feet. The property offers 700 parking spaces between a parking garage and a parking lot. Building B is designated for Community Use. The property size is 18,079 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    CityMD Brooklyn Navy ... Medical Clinic Starbucks Cafe & Coffee Shop FreshDirect Wine & Spirits (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.965958
    Latitude
    40.699586

    Nearby Similar for Lease

    • New
      $5,450 /Mo
      3,000 SF

      Midwood Medical Office Space Available

      Medical office space for rent in the heart of Midwood.
      2000 Kings Hwy, Brooklyn, NY 11229
      View Details
    • New
      $4,950 /Mo
      3,001 SF

      Professional Office Space in Brooklyn

      High-end, ready-to-move-in office space near Kings Highway.
      1718 E 17Th St, Brooklyn, NY 11229
      View Details
    • $3,900 /Mo
      945 SF

      Brooklyn Commercial Space For Rent

      Prime Park Slope commercial space suitable for retail or office.
      261 13Th St, Brooklyn, NY 11215
      View Details
    • $2,800 /Mo
      4,930 SF

      Newly Renovated Brooklyn Office Spaces

      Three office spaces and a storefront available for lease.
      1944 Prospect Pl, Brooklyn, NY 11233
      View Details
    • $2,950 /Mo
      1,000 SF

      Brooklyn Office Space For Rent

      Professional office space in Bay Ridge neighborhood with flexible layout.
      8314 4Th Ave, Brooklyn, NY 11209
      View Details
    • New
      $3,750 /Mo
      800 SF

      Clinton Hill Carriagehouse Loft

      Unique 800 SF live/work loft in Brooklyn carriagehouse.
      294 Grand Ave, Brooklyn, NY 11238
      View Details
    • New
      $4,995 /Mo
      1,000 SF

      Charming Brooklyn Office Space

      Spacious 2.5BR office with updated kitchen and luxurious bathroom.
      351 7Th Ave, Brooklyn, NY 11215
      View Details
    • New
      $1,900 /Mo
      375 SF

      Retail Space in Bushwick, NY

      375 SF retail space near L train in Bushwick.
      286 Stanhope St, Brooklyn, NY 11237
      View Details
    • New
      $5,650 /Mo
      1,200 SF

      Adaptable Retail + Creative Space

      Corner retail and creative space in East Williamsburg, Brooklyn.
      282 Scholes St, Brooklyn, NY 11206
      View Details
    • New
      $4,500 /Mo
      1,200 SF

      Functional Medical Office in Brooklyn

      Prime medical office space in a highly visible Brooklyn location.
      364 97Th St, Brooklyn, NY 11209
      View Details
    • New
      $2,700 /Mo

      Renovated Commercial Space in Brooklyn

      Prime, renovated commercial space suitable for retail, office, or showroom.
      148 Tompkins Ave, Brooklyn, NY 11207
      View Details
    • $8,000 /Mo
      4,153 SF

      Williamsburg Mixed-Use Commercial Space

      4,153 SF space ideal for fitness, wellness, or medical.
      467 Keap St, Brooklyn, NY 11211
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail space available near Wegmans Grocery, Brooklyn Navy Yard.
    Where is this retail space located?
    The property is located at 3 Flushing Ave Brooklyn, NY.
    What are key features of this property?
    This property features: - Anchored by New York City’s first Wegmans Grocery, expecting 75,000 customers per week.; - Projected 20,000 workers adjacent at Brooklyn Navy Yard.; - Flexible divisions from 1,500 SF to 40,000 SF.
    (718) 233-6565 Call to check price and availability
    Request Owner's contact information
    3 Flushing Ave Brooklyn, NY 11205
    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.
    3 Flushing Ave
    Brooklyn, NY 11205
    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
    3 Flushing Ave Brooklyn, NY 11205
    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

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Jason Pennington
    Jason Pennington
    (718) 233-6565 (212) 750-6565
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!