Kensington Commercial Condo For
428 9th Street Brooklyn, NY 11218
428 9th Street, Brooklyn, NY, 11218
$699,000
For Sale
$699,000
New construction commercial condo in prime Kensington area.
Property Size1,416 SF
Lot Size0.29 Acres
Price / SF$493.64
Days on Market698
Property Features for 428 9th Street
General Information
- Standard status
- Active
- Size
- 1,416 SF
- Lot size
- 0.29 Acres
- Property subtype
- Commercial/Industrial
Listing Agency
A P Services Inc
(347) 515-8272
Listed by
Aliaksei A. (Alex) Palaukou · License #AP8095
(347) 515-8272
Source
Exitrealty
Added: Aug 22, 2024 Updated: Jul 10 at 3:50 pm Checked: Jul 19 at 4:54 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 A P Services Inc
Investment Insights
Based on property information with market context.
This is a new construction ground floor commercial condominium, designated as a community facility, situated in the Kensington area. The property offers approximately 1416 square feet of space. The property benefits from a 25-year tax abatement (ICAP). Common charges (HOA) are $219 per month. The owner offers build-to-suit options to accommodate the buyer's specific requirements.
Key Highlights
- 25‑year tax abatement (ICAP)
- New construction ground floor commercial condo
- Prime Kensington area location
Local Financial Insights For Office B
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 | $61.2k | $43.20 |
| − Vacancy | −$14.1k | −$9.94 |
| EGI | $47.1k | $33.26 |
| − OpEx | −$11.8k | −$8.32 |
| NOI | $35.3k | $24.95 |
1,416 SF · lease $43.20/SF/yr · vacancy 23.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$504.7K
$441.6K – $588.8K
NOI $35,326 @ 7.0% cap · market cap 5.05%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.17M
$1.03M – $1.37M
NOI $82,071 @ 7.0% cap · market cap 11.74%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Al-Barr Builder
Construction Company
Similar For Sale Nearby
FAQs
What type of property is this?
Office units - New construction commercial condo in prime Kensington area.
Where is this office units located?
The property is located at 428 9th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 25‑year tax abatement (ICAP); New construction ground floor commercial condo; Prime Kensington area location
