Brooklyn Warehouse with Vacant
For Sale
$6,999,000
857 Meeker Ave, Brooklyn, NY 11222
Two-story warehouse with side lot in Greenpoint, Brooklyn.
Property Size10,000 SF
Lot Size0.27 Acres
Price / SF$697.25
Days on Market151
Property Features for 857 Meeker Ave
General Information
Standard status
Active
Size
10,000 SF
Lot size
0.27 Acres
Property subtype
Industrial
Taxes and HOA fees
Annual Taxes
$64,072
Building Details
Building Size
10,000 SF
Stories
2
Listing Agency:
Winzone Realty Inc
(718) 676-6611
Listed By:
Xiao Feng Pan
(718) 676-6611
Source:
Elliman
Added: Mar 24
Changed: Aug 14
Last Checked: Aug 14 at 7:23AM
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 Winzone Realty Inc
Investment Insights
Based on property information with market context.
This two-story brick warehouse is located in the Greenpoint neighborhood of Brooklyn. The corner property features a total of 10,000 square feet and can be delivered vacant. The property includes a 6,950-square-foot side lot with cement pavement. The first floor is suitable for heavy manufacturing. The second floor contains an office area. The building has cement floors and three entry gates measuring 10 feet by 10 feet, along with two loading docks. There are two street entry gates with dropped curbs accessible from Maker Avenue and Varick St. The total as-built floor area is 10,038 square feet, with a remaining buildable floor area of 13,862 square feet. The roof height is 29 feet, and the ceiling clearance is 12 feet. A wet sprinkler system is in place. The property has heavy electric power with three phases, making it suitable for investment or owner use.
Key Highlights
- Vacant corner property in Greenpoint, Brooklyn, ready for immediate use or investment.
- Substantial vacant side lot (6,950 sq ft) with cement pavement.
- Two‑story brick building with 10,000 sq ft, featuring heavy manufacturing space on the first floor and office area on the second floor.
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
$216,845
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
3.10%
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%
$4,336,900
$4.3M
Cap Rate 7%
$3,097,786
$3.1M
Cap Rate 9%
$2,409,389
$2.4M
Market Conditions
NOI Build-Up for 10,038 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
$267.4K $26.64/SF
− Vacancy
−$12.3K −$1.23/SF
EGI
$255.1K $25.41/SF
− OpEx
−$38.3K −$3.81/SF
NOI
$216.8K $21.60/SF
Area
Brooklyn, NY
Vacancy
4.60%
Lease Rate
$26.64 /SF/Yr
Expense Ratio
15.00%
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%
$4,336,900
Cap Rate 7%
$3,097,786
Cap Rate 9%
$2,409,389
Alternative Uses
Best Use
Warehouse
$3.10M
$2.71M – $3.61M
NOI $216,845 @ 7.0% cap · market cap 3.10%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$8.31M
$7.27M – $9.70M
NOI $581,802 @ 7.0% cap · market cap 8.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,078
Businesses Nearby
Balanced
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
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Two-story warehouse with side lot in Greenpoint, Brooklyn.
Where is this warehouse located?
The property is located at 857 Meeker Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $6,999,000.
What are key features of this property?
This property features: Vacant corner property in Greenpoint, Brooklyn, ready for immediate use or investment.; Substantial vacant side lot (6,950 sq ft) with cement pavement.; Two‑story brick building with 10,000 sq ft, featuring heavy manufacturing space on the first floor and office area on the second floor.
