Two-Story Warehouse with
For Sale
$2,500,000
133 29th Street, Brooklyn, NY 11232
A multi-level warehouse with 20-foot ceilings and a leased second-floor terrace generating current monthly income.
Property Size4,675 SF
Price / SF$534.76
Days on Market77
Property Features for 133 29th Street
General Information
Standard status
Active
Size
4,675 SF
Property subtype
Warehouse
Additional Details
Clear Height
20 ft
Taxes and HOA fees
Annual Taxes
$23,000
Building Details
Building Size
4,675 SF
Stories
2
Listing Agency:
BHHS Fillmore R.E.
(718) 377-6161
Listed By:
Gus Ktistakis
(718) 377-6161
Source:
Penrealty
Added: Jun 9
Changed: Aug 22
Last Checked: Aug 23 at 7:43AM
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 BHHS Fillmore R.E.
Investment Insights
Based on property information with market context.
This warehouse for sale is configured with three levels, offering flexible storage and operational space. The first floor includes 2,500 square feet with 20-foot high ceilings. The second floor provides 2,000 square feet and includes an additional terrace. A 1,000-square-foot basement adds further usable area, supporting everything from storage to back-of-house functions.
The property is located at 133 29th Street in Brooklyn, listed under the Greenwood area. It is presented as a leased asset, with current income tied to the existing occupancy arrangements.
For buyers and investors, the key leasing elements are already in place: there are five years remaining on the lease associated with the first floor at $6,500 per month, and the second-floor space is currently generating $4,500 per month. With its multi-level layout, tall first-floor ceiling height, and added terrace area, the building can be a practical fit for operators seeking an established warehouse configuration while planning for future space needs.
The property is located at 133 29th Street in Brooklyn, listed under the Greenwood area. It is presented as a leased asset, with current income tied to the existing occupancy arrangements.
For buyers and investors, the key leasing elements are already in place: there are five years remaining on the lease associated with the first floor at $6,500 per month, and the second-floor space is currently generating $4,500 per month. With its multi-level layout, tall first-floor ceiling height, and added terrace area, the building can be a practical fit for operators seeking an established warehouse configuration while planning for future space needs.
Key Highlights
- Multi‑level warehouse in Greenwood with 20‑foot high ceilings and multiple income‑producing spaces
- First floor: 2,500 sq. ft. with 20‑foot ceilings; lease has 5 years remaining at $6,500/month
- Second floor: 2,000 sq. ft. plus terrace; currently generating $4,500/month
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
$100,991
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
4.04%
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%
$2,019,820
$2.0M
Cap Rate 7%
$1,442,729
$1.4M
Cap Rate 9%
$1,122,122
$1.1M
Market Conditions
NOI Build-Up for 4,675 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
$124.5K $26.64/SF
− Vacancy
−$5.7K −$1.23/SF
EGI
$118.8K $25.41/SF
− OpEx
−$17.8K −$3.81/SF
NOI
$101.0K $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%
$2,019,820
Cap Rate 7%
$1,442,729
Cap Rate 9%
$1,122,122
Alternative Uses
Best Use
Warehouse
$1.44M
$1.26M – $1.68M
NOI $100,991 @ 7.0% cap · market cap 4.04%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.87M
$3.39M – $4.52M
NOI $270,963 @ 7.0% cap · market cap 10.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20 ft
Clear height
Location Intelligence
Trade Area within ½ mile
3,665
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11232, NY
30,181
Population
10,004
Households
3
Avg Household Size
35
Median Age
36%
College-Educated
69%
High-School Grad
1.2 sq mi
ZIP Area
25,151
Density / Sq Mi
$87,517
Median Household Income
$45,983
Median Earnings
$1,972
Median Rent
$782,500
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 - A multi-level warehouse with 20-foot ceilings and a leased second-floor terrace generating current monthly income.
Where is this warehouse located?
The property is located at 133 29th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Multi‑level warehouse in Greenwood with 20‑foot high ceilings and multiple income‑producing spaces; First floor: 2,500 sq. ft. with 20‑foot ceilings; lease has 5 years remaining at $6,500/month; Second floor: 2,000 sq. ft. plus terrace; currently generating $4,500/month
