Renovated Warehouse with Refrigerated
New
For Sale
$5,900,000
35 Division Pl, Brooklyn, NY 11222
Single-story space combines drive-in loading with finished offices and modern refrigerated capacity.
Property Size10,000 SF
Lot Size0.23 Acres
Price / SF$590
Days on Market3
Property Features for 35 Division Pl
General Information
Standard status
Active
Size
10,000 SF
Lot size
0.23 Acres
Property subtype
Vacant-User
Additional Details
Cold Storage
Yes
Amenities
10,000 SF single-story industrial building, slab on grade, built full on a 100' X 100' (10,000 SF) lot
18.5' ceiling clearance & wide-column spacing in main bay accommodating racking and larger equipment
700-amp, 3-phase electrical power supports workloads with demanding power requirements
Building Details
Building Size
10,000 SF
Year Built
1939
Year Renovated
2018
Buildings
1
Stories
1
Listing Agency:
New York City Office
(718) 475-4326
Listed By:
Tom Brennan · License #License(s): NY: 10401288240
(718) 475-4326
Source:
Marcusmillichap
Added: Aug 14
Changed: Aug 15
Last Checked: Aug 16 at 3:05AM
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 New York City Office
Investment Insights
Based on property information with market context.
This single-story warehouse totals 10,000 square feet on a 100′ x 100′ lot and was renovated in 2018. The facility includes refrigerated storage, drive-in loading, substantial clear height, and finished office areas, creating a functional blend of industrial and administrative space. The building dates to 1939 and is presented in move-in condition.
Located at 35 Division Pl in Brooklyn’s East Williamsburg area, the property provides a New York City setting for industrial, distribution, food and beverage, and last-mile logistics operations. Its combination of loading access, cold-storage capability, and office finish supports users requiring both operational and workspace components within one facility.
Located at 35 Division Pl in Brooklyn’s East Williamsburg area, the property provides a New York City setting for industrial, distribution, food and beverage, and last-mile logistics operations. Its combination of loading access, cold-storage capability, and office finish supports users requiring both operational and workspace components within one facility.
Key Highlights
- 10,000‑square‑foot warehouse on a 100′ x 100′ lot
- Renovated in 2018 with finished office space
- Refrigerated storage included
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
$216,024
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
3.66%
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%
$4,320,480
$4.3M
Cap Rate 7%
$3,086,057
$3.1M
Cap Rate 9%
$2,400,267
$2.4M
Market Conditions
NOI Build-Up for 10,000 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
$266.4K $26.64/SF
− Vacancy
−$12.3K −$1.23/SF
EGI
$254.1K $25.41/SF
− OpEx
−$38.1K −$3.81/SF
NOI
$216.0K $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%
$4,320,480
Cap Rate 7%
$3,086,057
Cap Rate 9%
$2,400,267
Alternative Uses
Best Use
Warehouse
$3.09M
$2.70M – $3.60M
NOI $216,024 @ 7.0% cap · market cap 3.66%
Second Best
Industrial
$2.54M
$2.22M – $2.97M
NOI $177,902 @ 7.0% cap · market cap 3.02%
Theoretical Best
Specialty Retail
$8.28M
$7.25M – $9.66M
NOI $579,600 @ 7.0% cap · market cap 9.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,983
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 - Single-story space combines drive-in loading with finished offices and modern refrigerated capacity.
Where is this warehouse located?
The property is located at 35 Division Pl Brooklyn, NY.
What is the asking price?
The asking price for this property is $5,900,000.
What are key features of this property?
This property features: 10,000‑square‑foot warehouse on a 100′ x 100′ lot; Renovated in 2018 with finished office space; Refrigerated storage included
