Canarsie Avenue Retail
9518 Avenue L Brooklyn, NY 11236
9518 Avenue L, Brooklyn, NY, 11236
$679,000
Pending
For Sale
$679,000
Pending
Retail building on Avenue L, suitable for various uses.
Property Size1,265 SF
Lot Size0.04 Acres
Days on Market89
Property Features for 9518 Avenue L
General Information
- Standard status
- Pending
- Size
- 1,265 SF
- Lot size
- 0.04 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1931
Listing Agency
BROOKLYN REAL PROPERTY INC
(718) 875-8899
Listed by
Jean Paul Ho
(718) 875-8899
Source
Elliman
Added: Apr 24 Updated: Jul 10 at 3:56 pm Checked: Jul 19 at 5:41 am
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 BROOKLYN REAL PROPERTY INC
Investment Insights
Based on property information with market context.
Located in the Canarsie Avenue retail corridor, this brick commercial building is available for sale. The property is currently occupied by a veterinary practice that has been in operation for 40 years and will be delivered vacant. The building features a waiting room, reception desk, three observation rooms, an X-ray room, an operating room, a treatment room, and an office. It also includes a private, enclosed backyard and a fully finished basement with high ceilings and three easements. The building is equipped with an HVAC central air unit and a hot water heater. The building size is 1,265 square feet, situated on a 17.75 x 55 lot, with lot dimensions of 17.75 x 100. Zoned R5D, C2-3, the property offers an additional 2,290 square feet of unused FAR for potential expansion. The property is well-maintained and suitable for conversion to various uses such as a day care, office, home care, or school. The location is near shopping, buses, and restaurants. The transit score is 90, indicating it is a Rider's Paradise. The walk score is 76, making it Very Walkable. The bike score is 50, indicating it is Bikeable.
Key Highlights
- Prime Canarsie Avenue retail corridor location with high exposure.
- Delivered vacant commercial building suitable for various uses.
- Potential building expansion with additional 2,290 unused FAR.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $98.4k | $77.76 |
| − Vacancy | −$11.7k | −$9.25 |
| EGI | $86.7k | $68.51 |
| − OpEx | −$26.0k | −$20.55 |
| NOI | $60.7k | $47.95 |
1,265 SF · lease $77.76/SF/yr · vacancy 11.90% · expense 30.00%
Alternative Uses
Best Use
Retail
$866.6K
$758.3K – $1.01M
NOI $60,663 @ 7.0% cap · market cap 8.93%
Second Best
Healthcare Medical
$419.0K
$366.6K – $488.8K
NOI $29,328 @ 7.0% cap · market cap 4.32%
Theoretical Best
Specialty Retail
$1.05M
$916.5K – $1.22M
NOI $73,319 @ 7.0% cap · market cap 10.80%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Chaikin Ronald DVM
Veterinary Clinic
Animal Medicine & Surgery ...
Veterinary Clinic
Alexander Cortes
Veterinary Clinic
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FAQs
What type of property is this?
Storefront property - Retail building on Avenue L, suitable for various uses.
Where is this storefront property located?
The property is located at 9518 Avenue L Brooklyn, NY.
What is the asking price?
The asking price for this property is $679,000.
What are key features of this property?
This property features: Prime Canarsie Avenue retail corridor location with high exposure.; Delivered vacant commercial building suitable for various uses.; Potential building expansion with additional 2,290 unused FAR.
