Storefront Property with Dry-Cleaning
New
For Sale
$1,488,000
1627 Sheepshead Bay Road, Brooklyn, NY 11235
Commercial, Brooklyn, NY
Property Size2,600 SF
Lot Size0.06 Acres
Price / SF$572.31
Days on Market1
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
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
23411
Building Details
Year built
1927
Floors in Building
1
Number of units
1
Flooring type
Concrete
Building materials
Brick
Listing Agency:
Tiger Realty
Listed By:
Kar Ying L. Yiu
(917) 708-9966
Added: Sep 9
Last Checked: Sep 9 at 10:06PM
MLS# 504355
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.
The property includes a 2,600-square-foot storefront building constructed in 1927, with brick exterior materials and concrete flooring. An established dry-cleaning business and its essential operating equipment are included, allowing the transaction to encompass both the commercial operation and the underlying real estate.
Located at 1627 Sheepshead Bay Road in Brooklyn, the property carries C4-2 zoning and occupies a 0.0615-acre lot. The sale includes the business, equipment, and real estate, subject to independent verification of zoning, permits, environmental status, and other property details.
Located at 1627 Sheepshead Bay Road in Brooklyn, the property carries C4-2 zoning and occupies a 0.0615-acre lot. The sale includes the business, equipment, and real estate, subject to independent verification of zoning, permits, environmental status, and other property details.
Key Highlights
- 2,600 square feet of storefront commercial space
- Established dry‑cleaning business included with the sale
- Essential dry‑cleaning equipment 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
$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
8.38%
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 8.38%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.15M
$1.88M – $2.51M
NOI $150,696 @ 7.0% cap · market cap 10.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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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
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
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Frequently Asked Questions
What type of property is this?
Storefront property - C4-2 zoning, a 2,600-square-foot building, and dry-cleaning equipment accompany the sale of the real estate.
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 $1,488,000.
What are key features of this property?
This property features: 2,600 square feet of storefront commercial space; Established dry‑cleaning business included with the sale; Essential dry‑cleaning equipment included
