Renovated Retail
For Sale
Contact for pricing
1497 Myrtle Avenue, Brooklyn, NY 11237
A large storefront window faces the sidewalk, with split systems providing heating and cooling.
Property Size700 SF
Price / SF$6
Days on Market40
Property Features for 1497 Myrtle Avenue
General Information
Standard status
Active
Size
700 SF
Amenities
large front window
split systems for heating and cooling
Listing Agency:
Davis Realty and Auction
(256) 442-9995
Listed By:
Christopher Davis · License #112829
(256) 390-7773
Source:
Davisrealtyandauction
Added: Sep 23
Changed: Oct 31
Last Checked: Oct 31 at 2:24PM
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 Davis Realty and Auction
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Investment Insights
Based on property information with market context.
This approximately 700-square-foot retail space has undergone a full interior renovation and features a large front window. Split systems provide heating and cooling. The space is suitable for dry retail or light food preparation; major cooking is not supported.
The property is on Myrtle Avenue in Bushwick, within a commercial corridor described as busy, with strong pedestrian activity. The M and L trains are within walking distance. Basement space is also available for an additional monthly charge.
The property is on Myrtle Avenue in Bushwick, within a commercial corridor described as busy, with strong pedestrian activity. The M and L trains are within walking distance. Basement space is also available for an additional monthly charge.
Key Highlights
- Approximately 700 SF of retail space
- Large front window along the sidewalk
- Recently completed full interior renovation
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,568
Suggested Prices Based on Cap Rates
Cap Rate 5%
$671,360
$671.4K
Cap Rate 7%
$479,543
$479.5K
Cap Rate 9%
$372,978
$373.0K
Market Conditions
NOI Build-Up for 700 SF
Gross rent
$54.4K $77.76/SF
− Vacancy
−$6.5K −$9.25/SF
EGI
$48.0K $68.51/SF
− OpEx
−$14.4K −$20.55/SF
NOI
$33.6K $47.95/SF
Area
Brooklyn, NY
Vacancy
11.90%
Lease Rate
$77.76 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$671,360
Cap Rate 7%
$479,543
Cap Rate 9%
$372,978
Alternative Uses
Best Use
Retail
$479.5K
$419.6K – $559.5K
NOI $33,568 @ 7.0% cap · market cap 799.24%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$579.6K
$507.2K – $676.2K
NOI $40,572 @ 7.0% cap · market cap 966.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
5,940
Businesses Nearby
411k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 42%
Dining 31%
Shops & Services 16%
Apparel 5%
Food Bazaar Supermarket
Groceries
76,560 visits/mo
0.3 miles
Food Bazaar Supermarket
Groceries
51,452 visits/mo
0.2 miles
Burger King
Dining
36,411 visits/mo
0.2 miles
White Castle
Dining
24,528 visits/mo
0.1 miles
Dunkin' Donuts
Dining
23,384 visits/mo
0.2 miles
Demographics for 11237, NY
49,418
Population
18,801
Households
2.6
Avg Household Size
31
Median Age
41%
College-Educated
76%
High-School Grad
1.0 sq mi
ZIP Area
49,418
Density / Sq Mi
$82,570
Median Household Income
$43,421
Median Earnings
$2,109
Median Rent
$1,063,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Retail space - A large storefront window faces the sidewalk, with split systems providing heating and cooling.
Where is this retail space located?
The property is located at 1497 Myrtle Avenue Brooklyn, NY.
What are key features of this property?
This property features: Approximately 700 SF of retail space; Large front window along the sidewalk; Recently completed full interior renovation
