Storefront Building with Dry
For Sale
$1,488,888
1627 Sheepshead Bay Road, Brooklyn, NY 11235
COMMERCIAL - Brooklyn, NY
Property Size2,600 SF
Lot Size0.07 Acres
Price / SF$572.65
Days on Market47
Property Features for 1627 Sheepshead Bay Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C4-2
Subdivision
Sheepshead Bay
Standard status
Active
Size
2,600 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
23043
Building Details
Year built
1927
Floors in Building
1
Number of units
1
Flooring type
Concrete
Building materials
Brick
Roof type
Flat
Listing Agency:
DiTommaso Real Estate
(718) 667-8000
Listed By:
Stephanie X. Zhang · License #30ZH0997890
(718) 667-8000
Added: Jul 9
Changed: Aug 4
Last Checked: Aug 24 at 5:06AM
MLS# 502912
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This storefront property at 1627 Sheepshead Bay Road in Brooklyn includes a 2,600-square-foot building and an operating dry-cleaning business. The business is included in the sale, providing an existing commercial operation within the property. Construction is brick, with concrete flooring and a flat roof; the building dates to 1927.
The parcel measures 19 feet wide by 146 feet deep and contains 0.0661 acres. It is located in the Sheepshead Bay neighborhood of Brooklyn, within ZIP Code 11235. The property combines an existing storefront building with a deep lot and an operating dry-cleaning use, while any future development or alternate use should be evaluated through appropriate building, environmental, and permit review.
The parcel measures 19 feet wide by 146 feet deep and contains 0.0661 acres. It is located in the Sheepshead Bay neighborhood of Brooklyn, within ZIP Code 11235. The property combines an existing storefront building with a deep lot and an operating dry-cleaning use, while any future development or alternate use should be evaluated through appropriate building, environmental, and permit review.
Key Highlights
- Operating dry‑cleaning business included in sale
- 2,600‑square‑foot storefront building
- 19 feet wide by 146 feet deep
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
$124,682
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
8.37%
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%
$2,493,640
$2.5M
Cap Rate 7%
$1,781,171
$1.8M
Cap Rate 9%
$1,385,356
$1.4M
Market Conditions
NOI Build-Up for 2,600 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
$202.2K $77.76/SF
− Vacancy
−$24.1K −$9.25/SF
EGI
$178.1K $68.51/SF
− OpEx
−$53.4K −$20.55/SF
NOI
$124.7K $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 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%
$2,493,640
Cap Rate 7%
$1,781,171
Cap Rate 9%
$1,385,356
Alternative Uses
Best Use
Retail
$1.78M
$1.56M – $2.08M
NOI $124,682 @ 7.0% cap · market cap 8.37%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.15M
$1.88M – $2.51M
NOI $150,696 @ 7.0% cap · market cap 10.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
4,886
Businesses Nearby
264k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 30%
Groceries 27%
Apparel 21%
Office Supplies 14%
Stop & Shop
Groceries
70,327 visits/mo
0.2 miles
Marshalls
Apparel
55,799 visits/mo
0.3 miles
Staples
Office Supplies
37,374 visits/mo
0.3 miles
Petco
Shops & Services
25,350 visits/mo
0.3 miles
Bank of America
Shops & Services
24,582 visits/mo
0.2 miles
Demographics for 11235, NY
88,482
Population
37,188
Households
2.4
Avg Household Size
44
Median Age
50%
College-Educated
90%
High-School Grad
2.5 sq mi
ZIP Area
35,393
Density / Sq Mi
$61,689
Median Household Income
$48,898
Median Earnings
$1,649
Median Rent
$723,900
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- World Flowers By TATI — 3073 Brighton 2nd St, Brooklyn, NY 11235
- Wedding Bouquets And Centerpieces Brooklyn — 3039 brighton 4th st, brooklyn, ny 11235
- Aleksis Flowers Ltd — 274 Brighton Beach Ave, Brooklyn, NY 11235
- Funky D Signs & Florist — 703 Brighton Beach Ave, Brooklyn, NY 11235
- Melanie Flower Shop And More — 403 Brighton Beach Ave, Brooklyn, NY 11235
Frequently Asked Questions
What type of property is this?
Storefront property - The sale includes an operating dry-cleaning business and a deep lot.
Where is this storefront property located?
The property is located at 1627 Sheepshead Bay Road Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,488,888.
What are key features of this property?
This property features: Operating dry‑cleaning business included in sale; 2,600‑square‑foot storefront building; 19 feet wide by 146 feet deep
