Renovated Mixed-Use Asset in Brooklyn

405 Gates Ave, Brooklyn, NY 11216

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For Sale

$7,500,000

Prime corner property with Class A office space and development potential.

Type:Commercial

Property size:

11,250 SF

Lot size:

0.04 Acres

Price / SF:

$666/SF

HighLights

Prime corner location in Bedford‑Stuyvesant.
Excellent transit access: close proximity to S, C, A, G trains and multiple bus lines (B38, B44, B48, B52).
Fully renovated, mixed‑use asset.
Supreme Class A office space with 15+ foot ceilings and oversized windows.
New heating and cooling systems.
High walk, bike, and transit scores (98, 95, and 100 respectively).

We can help!

Listing Contact

Andrew Freerks

Learn more

For Sale

$7,500,000

Prime corner property with Class A office space and development potential.

Type:Commercial

Property size:

11,250 SF

Lot size:

0.04 Acres

Price / SF:

$666/SF

Added:: Apr 24, 2026
Days on Market:: 53
Last Refresh:: Apr 24 at 3:13 pm

Property Features for 405 Gates Ave

General Information

Standard status: Active
Size: 11,250 SF
Lot size: 0.04 Acres
Property subtype: Commercial

Building Details

Year Built: 1931

We can help!

Listing Contact

Andrew Freerks

Listing agent Andrew Freerks

Listing office

Listing date Apr 24, 2026

Source Elliman

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 Andrew Freerks

HighLights

Prime corner location in Bedford‑Stuyvesant.
Excellent transit access: close proximity to S, C, A, G trains and multiple bus lines (B38, B44, B48, B52).
Fully renovated, mixed‑use asset.
Supreme Class A office space with 15+ foot ceilings and oversized windows.
New heating and cooling systems.
High walk, bike, and transit scores (98, 95, and 100 respectively).

Overview

This fully renovated mixed-use property is located on a prime corner in Bedford-Stuyvesant, Brooklyn. The property benefits from its close proximity to the S, C, A, and G train lines, as well as the Brooklyn MTA bus 38, 44, 48, and 52 lines. The upper floors feature Class A office space, characterized by ceilings exceeding 15 feet, oversized windows, new heating and cooling systems, and multiple lavatories. Built in 1931, the building has a total area of 11,250 square feet and sits on a 3,750 square foot lot. The location has a bike score of 95, walk score of 98, and transit score of 100. Additionally, there is a vacant lot at 403 Gates Ave (18.75 x 100) with R6A, C2-4 zoning.

Local Financial Insights For Mixed Use

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$742.5k	$66.00
− Vacancy	−$89.1k	−$7.92
EGI	$653.4k	$58.08
− OpEx	−$245.0k	−$21.78
NOI	$408.4k	$36.30

11,250 SF · lease $66.00/SF/yr · vacancy 12.00% · expense 37.50%

Alternative Uses

Best Use

Mixed Use

$5.83M

$5.10M – $6.81M (±1% cap)

NOI $408,375 @ 7.0% cap · market cap 5.45%

Second Best

Office B

$4.01M

$3.51M – $4.68M (±1% cap)

NOI $280,665 @ 7.0% cap · market cap 3.74%

Theoretical Best

Specialty Retail

$9.32M

$8.15M – $10.87M (±1% cap)

NOI $652,050 @ 7.0% cap · market cap 8.69%

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

Location Intelligence

Current Use by Public Records

Noor Brother Deli ... Food Market

Suggested Use

Location Insight

Map
Local Demand

City: Brooklyn
County: Kings
State: New York
Longitude: -73.95107
Latitude: 40.686386

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For sale
Mixed-use properties
NY
Brooklyn
11216
405 Gates Ave

What type of property is this?

Mixed-use property - Prime corner property with Class A office space and development potential.

Where is this mixed-use property located?

The property is located at 405 Gates Ave Brooklyn, NY.

What is the asking price?

The asking price for this property is $7,500,000.

What are key features of this property?

This property features: Prime corner location in Bedford‑Stuyvesant.; Excellent transit access: close proximity to S, C, A, G trains and multiple bus lines (B38, B44, B48, B52).; Fully renovated, mixed‑use asset.