Commercial Land with Church
For Sale
$6,200,000
Pending
180 Van Buren St, Brooklyn, NY 11221
COMMERCIAL - Brooklyn, NY
Property Size12,610 SF
Lot Size0.23 Acres
Days on Market226
Property Features for 180 Van Buren St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Residential
Standard status
Pending
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
46129
Building Details
Year built
1900
Listing Agency:
MYC & ASSOCIATES INC
Listed By:
Marc Yaverbaum
Added: Jan 9
Changed: Aug 4
Last Checked: Aug 23 at 3:06PM
MLS# 11629342
Copyright © 2026 My State MLS. 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 R6A-zoned commercial land parcel occupies a rectangular 10,000-square-foot corner lot at Van Buren Street and Marcus Garvey Boulevard in Brooklyn. The existing improvement is a three-story church constructed in 1900, totaling approximately 12,610 SF plus a below-grade basement.
The property has been associated with a prior redevelopment concept for approximately 30,000 square feet, including a ground-floor church, clergy living quarters, and more than 20 residential rental units. That concept included approximately 7,000 SF for the church and approximately 26,320 SF for residential space. The property is located in the Bedford-Stuyvesant neighborhood of Brooklyn.
The property has been associated with a prior redevelopment concept for approximately 30,000 square feet, including a ground-floor church, clergy living quarters, and more than 20 residential rental units. That concept included approximately 7,000 SF for the church and approximately 26,320 SF for residential space. The property is located in the Bedford-Stuyvesant neighborhood of Brooklyn.
Key Highlights
- R6A‑zoned rectangular 10,000 square foot corner lot
- Existing 3‑story church building constructed in 1900
- Church building measures +/-12,610 SF plus a below‑grade basement
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
$457,743
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
7.38%
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%
$9,154,860
$9.2M
Cap Rate 7%
$6,539,186
$6.5M
Cap Rate 9%
$5,086,033
$5.1M
Market Conditions
NOI Build-Up for 12,610 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
$832.3K $66.00/SF
− Vacancy
−$99.9K −$7.92/SF
EGI
$732.4K $58.08/SF
− OpEx
−$274.6K −$21.78/SF
NOI
$457.7K $36.30/SF
Area
Brooklyn, NY
Vacancy
12.00%
Lease Rate
$66.00 /SF/Yr
Expense Ratio
37.50%
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%
$9,154,860
Cap Rate 7%
$6,539,186
Cap Rate 9%
$5,086,033
Alternative Uses
Best Use
Mixed Use
$6.54M
$5.72M – $7.63M
NOI $457,743 @ 7.0% cap · market cap 7.38%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$10.44M
$9.14M – $12.18M
NOI $730,876 @ 7.0% cap · market cap 11.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,936
Businesses Nearby
Explore this area
Business Placement
Demographics for 11221, NY
89,222
Population
38,690
Households
2.3
Avg Household Size
33
Median Age
42%
College-Educated
84%
High-School Grad
1.4 sq mi
ZIP Area
63,730
Density / Sq Mi
$85,122
Median Household Income
$49,202
Median Earnings
$2,055
Median Rent
$1,061,400
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial land - R6A-zoned corner property includes an existing three-story church and documented redevelopment concept.
Where is this commercial land located?
The property is located at 180 Van Buren St Brooklyn, NY.
What is the asking price?
The asking price for this property is $6,200,000.
What are key features of this property?
This property features: R6A‑zoned rectangular 10,000 square foot corner lot; Existing 3‑story church building constructed in 1900; Church building measures +/-12,610 SF plus a below‑grade basement
