Second-Floor Retail
For Sale
$3,200,000
178 Avenue U, Brooklyn, NY 11223
Commercial, Brooklyn, NY
Property Size3,080 SF
Lot Size0.04 Acres
Price / SF$1,038
Days on Market49
Property Features for 178 Avenue U
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R5
Basement
Full
Subdivision
Gravesend
Standard status
Active
Size
3,080 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
20842
Amenities
private restroom
dedicated HVAC
secure entry
high ceilings
large front-facing windows
Building Details
Year built
1931
Floors in Building
2
Number of units
2
Building materials
Brick
Roof type
Flat, Rubber
Listing Agency:
RE/MAX Real Estate Professiona
Listed By:
Vito Angelo
(718) 532-2000
Added: Sep 3
Changed: Oct 6
Last Checked: Oct 21 at 11:06PM
MLS# 504249
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.
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Investment Insights
Based on property information with market context.
This 3,080-square-foot retail unit occupies the second floor of a brick building constructed in 1931. The interior combines an open layout with high ceilings, clean finishes, front-facing windows, and natural light. A private restroom, dedicated HVAC, and secure entry are also provided, while the flexible floor plan can accommodate customized office, treatment, showroom, or service-oriented layouts.
The property is located at 178 Avenue U in Brooklyn, near the N train at Avenue U, multiple bus lines, Ocean Parkway, and Kings Highway. The surrounding area includes established retailers, restaurants, and neighborhood amenities. The building has a flat rubber roof and is zoned R5.
The property is located at 178 Avenue U in Brooklyn, near the N train at Avenue U, multiple bus lines, Ocean Parkway, and Kings Highway. The surrounding area includes established retailers, restaurants, and neighborhood amenities. The building has a flat rubber roof and is zoned R5.
Key Highlights
- 3,080 SF second‑floor retail unit
- Front‑facing windows with natural light and signage exposure
- Open floor plan with high ceilings and clean finishes
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$147,700
Cap Rate
4.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,954,000
$3.0M
Cap Rate 7%
$2,110,000
$2.1M
Cap Rate 9%
$1,641,111
$1.6M
Market Conditions
NOI Build-Up for 3,080 SF
Gross rent
$239.5K $77.76/SF
− Vacancy
−$28.5K −$9.25/SF
EGI
$211.0K $68.51/SF
− OpEx
−$63.3K −$20.55/SF
NOI
$147.7K $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 Rate 5%
$2,954,000
Cap Rate 7%
$2,110,000
Cap Rate 9%
$1,641,111
Alternative Uses
Best Use
Retail
$2.11M
$1.85M – $2.46M
NOI $147,700 @ 7.0% cap · market cap 4.62%
Second Best
Office B
$1.10M
$960.5K – $1.28M
NOI $76,840 @ 7.0% cap · market cap 2.40%
Theoretical Best
Specialty Retail
$2.55M
$2.23M – $2.98M
NOI $178,517 @ 7.0% cap · market cap 5.58%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
3,120
Businesses Nearby
Explore this area
Business Placement
Demographics for 11223, NY
83,519
Population
28,857
Households
2.9
Avg Household Size
37
Median Age
34%
College-Educated
78%
High-School Grad
2.1 sq mi
ZIP Area
39,771
Density / Sq Mi
$63,950
Median Household Income
$40,592
Median Earnings
$1,653
Median Rent
$1,063,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Retail space - Open-plan commercial unit with front-facing windows, private restroom, dedicated HVAC, and secure entry.
Where is this retail space located?
The property is located at 178 Avenue U Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: 3,080 SF second‑floor retail unit; Front‑facing windows with natural light and signage exposure; Open floor plan with high ceilings and clean finishes
