Two Commercial Units For
For Sale
Contact for pricing
2063 Atlantic Ave, Brooklyn, NY
Two commercial units with high traffic exposure and income potential.
Property Size2,315 SF
Lot Size0.07 Acres
Price / SF$514.04
Days on Market623
Property Features for 2063 Atlantic Ave
General Information
Standard status
Active
Size
2,315 SF
Lot size
0.07 Acres
Property subtype
RETAIL
Listing Agency:
KW | Scarsdale
(914) 713-3270
Listed By:
Teresa Belmore
(917) 674-6768
Source:
Moodyscre
Added: Dec 5, 2024
Changed: Aug 8
Last Checked: Aug 19 at 11:37AM
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 KW | Scarsdale
Investment Insights
Based on property information with market context.
This listing features two commercial properties offered at a single price. The property includes an upstairs office space available for rent, along with a tire shop and retail store on the ground level. The office space benefits from a separate entrance. The ground level features a retail store and a bay area with 12-foot ceilings suitable for trucks, including a symmetric lift designed for automotive repairs. Both units are individually metered, facilitating the structuring of separate leases. The property, totaling 2315 square feet, is zoned R5 and will be sold vacant. It has an annual rent potential of $92,560 to $113,000. The property is centrally located near highways and on a high-traffic street, providing maximum exposure. While the current use can be maintained, there is potential for repurposing the property for storage purposes, capitalizing on its proximity to the Jackie Robinson Parkway, Interstates 278 and 678, and JFK airport.
Key Highlights
- Seller financing available for lower capital costs.
- Two commercial units for the price of one:** upstairs office and ground‑level tire shop/retail store.
- High annual rent potential:** $92,560-$113,000 (Costar est.) with a projected 8.6% cap rate.
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
$57,755
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
4.85%
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%
$1,155,100
$1.2M
Cap Rate 7%
$825,071
$825.1K
Cap Rate 9%
$641,722
$641.7K
Market Conditions
NOI Build-Up for 2,315 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
$100.0K $43.20/SF
− Vacancy
−$23.0K −$9.94/SF
EGI
$77.0K $33.26/SF
− OpEx
−$19.3K −$8.32/SF
NOI
$57.8K $24.95/SF
Area
Brooklyn, NY
Vacancy
23.00%
Lease Rate
$43.20 /SF/Yr
Expense Ratio
25.00%
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%
$1,155,100
Cap Rate 7%
$825,071
Cap Rate 9%
$641,722
Alternative Uses
Best Use
Retail
$1.59M
$1.39M – $1.85M
NOI $111,015 @ 7.0% cap · market cap 9.33%
Second Best
Office B
$825.1K
$721.9K – $962.6K
NOI $57,755 @ 7.0% cap · market cap 4.85%
Theoretical Best
Specialty Retail
$1.92M
$1.68M – $2.24M
NOI $134,177 @ 7.0% cap · market cap 11.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,859
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Auto shop - Two commercial units with high traffic exposure and income potential.
Where is this auto shop located?
The property is located at 2063 Atlantic Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,190,000.
What are key features of this property?
This property features: Seller financing available for lower capital costs.; Two commercial units for the price of one:** upstairs office and ground‑level tire shop/retail store.; High annual rent potential:** $92,560-$113,000 (Costar est.) with a projected 8.6% cap rate.
