One-Story Commercial Warehouse
For Sale
$1,289,000
173 VERONICA PL, Brooklyn, NY 11226
One-story warehouse on a 25 x 119.67 lot with R-6/C2-3 zoning, with entrances on Rogers Avenue and Veronica Place.
Property Size2,850 SF
Lot Size0.07 Acres
Price / SF$452.28
Days on Market135
Property Features for 173 VERONICA PL
General Information
Standard status
Active
Size
2,850 SF
Lot size
0.07 Acres
Property subtype
General Commercial
Zoning
R-6/C2-3
Amenities
Ceramic
3
Flat
25 x 119
Building Details
Year Built
1930
Stories
1
Listing Agency:
Pullini Realty Corp.
(718) 621-1446
Listed By:
Lisa Pullini · License #10311200451
(718) 621-1446
Source:
Xome
Added: Mar 30
Changed: Aug 9
Last Checked: Aug 11 at 5:45AM
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 Pullini Realty Corp.
Investment Insights
Based on property information with market context.
One-story commercial warehouse for sale on a 25 x 119.67 lot. The property includes an entrance to the building on Rogers Avenue and on Veronica Place, with parking available for the owner on the Rogers Avenue side of the property. R-6/C2-3 zoning is noted for building condos and/or development.
Transit and local amenities are nearby, with nearby entrances for the 2 and 5 trains referenced via Beverly Road or Church Avenue. Additional bus entrances are noted at Rogers Avenue and Tilden Avenue, along with Rogers Avenue and Beverly Road. Schools mentioned include Stanley Eugene Clark P.S. 399, Mid School 246 Walt Whitman, New Vision Arm Charter High School, and Brooklyn Kids Preparatory School.
The property is also described as being near Kings Theatre, Prospect Park, and Brooklyn Botanical Garden, with shopping, houses of worship, and playgrounds within the surrounding area. A short commute to NYC by train is also referenced in the remarks.
Transit and local amenities are nearby, with nearby entrances for the 2 and 5 trains referenced via Beverly Road or Church Avenue. Additional bus entrances are noted at Rogers Avenue and Tilden Avenue, along with Rogers Avenue and Beverly Road. Schools mentioned include Stanley Eugene Clark P.S. 399, Mid School 246 Walt Whitman, New Vision Arm Charter High School, and Brooklyn Kids Preparatory School.
The property is also described as being near Kings Theatre, Prospect Park, and Brooklyn Botanical Garden, with shopping, houses of worship, and playgrounds within the surrounding area. A short commute to NYC by train is also referenced in the remarks.
Key Highlights
- One‑story commercial warehouse on a 25 x 119.67 lot
- R‑6/C2‑3 zoning allows building condos and/or development
- Building entrances on Rogers Avenue and Veronica Place
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
$49,448
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
3.84%
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%
$988,960
$989.0K
Cap Rate 7%
$706,400
$706.4K
Cap Rate 9%
$549,422
$549.4K
Market Conditions
NOI Build-Up for 2,850 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
$59.9K $21.00/SF
− Vacancy
−$1.7K −$0.59/SF
EGI
$58.2K $20.41/SF
− OpEx
−$8.7K −$3.06/SF
NOI
$49.4K $17.35/SF
Area
ZIP 11226
Vacancy
2.80%
Lease Rate
$21.00 /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%
$988,960
Cap Rate 7%
$706,400
Cap Rate 9%
$549,422
Alternative Uses
Best Use
Warehouse
$706.4K
$618.1K – $824.1K
NOI $49,448 @ 7.0% cap · market cap 3.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.41M
$1.23M – $1.64M
NOI $98,605 @ 7.0% cap · market cap 7.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,287
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11226, NY
101,727
Population
42,618
Households
2.4
Avg Household Size
37
Median Age
36%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
78,252
Density / Sq Mi
$81,084
Median Household Income
$49,892
Median Earnings
$1,751
Median Rent
$866,300
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 - One-story warehouse on a 25 x 119.67 lot with R-6/C2-3 zoning, with entrances on Rogers Avenue and Veronica Place.
Where is this warehouse located?
The property is located at 173 VERONICA PL Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,289,000.
What are key features of this property?
This property features: One‑story commercial warehouse on a 25 x 119.67 lot; R‑6/C2‑3 zoning allows building condos and/or development; Building entrances on Rogers Avenue and Veronica Place
