Multi-Story Industrial
For Sale
$18,800,000
201 46th St, Brooklyn, NY 11220
Multi-level industrial warehouse with dock-high loading, drive-in doors, and office space, zoned M1-2D and in an Opportunity Zone.
Property Size52,000 SF
Lot Size3.00 Acres
Price / SF$361.54
Days on Market26
Property Features for 201 46th St
General Information
Standard status
Active
Size
52,000 SF
Lot size
3.00 Acres
Property subtype
Industrial
Zoning
M1-2D
Warehouse & Industrial
Clear Height
12 ft
Dock-High Doors
3
Drive-In Doors
5
Additional Details
Opportunity Zone
Yes
Highway Access
Yes
Building Details
Year Built
1900
Listing Agency:
Sany Realty Group LLC
(917) 238-7878
Listed By:
Ren Wang
(917) 238-7878
Source:
Elliman
Added: Jul 19
Changed: Jul 20
Last Checked: Aug 12 at 6:56AM
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 Sany Realty Group LLC
Investment Insights
Based on property information with market context.
This multi-story industrial warehouse offers a combined warehouse, office, and commercial layout intended for manufacturing, distribution, showroom, logistics, storage, and related commercial operations. The building includes 3 dock-high loading docks, 5 drive-in doors, and a freight elevator, along with approximately 12-foot clear ceiling heights and on-site parking.
The site benefits from dual street frontage on 45th Street and 46th Street, supporting efficient access for deliveries and operations. The property is located in an Opportunity Zone and zoned M1-2D.
Currently leased to a mix of warehouse, office, showroom, and commercial tenants, the asset provides in-place income. Additional air rights are referenced as subject to verification. Financials are available upon request, and showings are by appointment only.
The site benefits from dual street frontage on 45th Street and 46th Street, supporting efficient access for deliveries and operations. The property is located in an Opportunity Zone and zoned M1-2D.
Currently leased to a mix of warehouse, office, showroom, and commercial tenants, the asset provides in-place income. Additional air rights are referenced as subject to verification. Financials are available upon request, and showings are by appointment only.
Key Highlights
- Multi‑story industrial warehouse with approx. 52,000 SF warehouse, office, and commercial space on an approx. 26,033 SF lot (built 1900).
- Loading and access: 3 dock‑high loading docks, 5 drive‑in doors, and a freight elevator.
- Approximately 12‑foot clear ceiling heights with flexible multi‑level warehouse and office space for manufacturing, distribution, storage, and commercial use.
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
$1,552,824
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
8.26%
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%
$31,056,480
$31.1M
Cap Rate 7%
$22,183,200
$22.2M
Cap Rate 9%
$17,253,600
$17.3M
Market Conditions
NOI Build-Up for 52,000 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
$2.62M $50.40/SF
− Vacancy
−$550.4K −$10.58/SF
EGI
$2.07M $39.82/SF
− OpEx
−$517.6K −$9.95/SF
NOI
$1.55M $29.86/SF
Area
ZIP 11220
Vacancy
21.00%
Lease Rate
$50.40 /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%
$31,056,480
Cap Rate 7%
$22,183,200
Cap Rate 9%
$17,253,600
Alternative Uses
Best Use
Office B
$22.18M
$19.41M – $25.88M
NOI $1,552,824 @ 7.0% cap · market cap 8.26%
Second Best
Warehouse
$18.75M
$16.41M – $21.88M
NOI $1,312,846 @ 7.0% cap · market cap 6.98%
Theoretical Best
Office A
$33.71M
$29.50M – $39.33M
NOI $2,359,718 @ 7.0% cap · market cap 12.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12 ft
Clear height
3
Dock-high doors
5
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4,738
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11220, NY
105,797
Population
30,897
Households
3.4
Avg Household Size
35
Median Age
25%
College-Educated
62%
High-School Grad
1.7 sq mi
ZIP Area
62,234
Density / Sq Mi
$64,201
Median Household Income
$31,489
Median Earnings
$1,688
Median Rent
$1,021,200
Median Home Value
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?
Flex space - Multi-level industrial warehouse with dock-high loading, drive-in doors, and office space, zoned M1-2D and in an Opportunity Zone.
Where is this flex space located?
The property is located at 201 46th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $18,800,000.
What are key features of this property?
This property features: Multi‑story industrial warehouse with approx. 52,000 SF warehouse, office, and commercial space on an approx. 26,033 SF lot (built 1900).; Loading and access: 3 dock‑high loading docks, 5 drive‑in doors, and a freight elevator.; Approximately 12‑foot clear ceiling heights with flexible multi‑level warehouse and office space for manufacturing, distribution, storage, and commercial use.
