Listing Agency: Commercial Acquisitions Realty Services Show Phone

Listed By: Denis Abayev Show Phone

Source: Moodyscre

Added: Oct 6 Changed: Oct 10 Last Checked: Oct 10 at 2:26AM

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Investment Insights

Based on property information with market context.

This storefront property is delivered vacant and comprises a four-lot assemblage. Its corner position provides 225 feet of frontage along Flatbush Avenue. The property measures 3,360 square feet.

Kings Highway is accessible from the site. The property is located at 1884 Flatbush Avenue in Brooklyn, New York.

Key Highlights

• Vacant storefront property assembled from 4 lots
• Corner parcel with 225’ of frontage on Flatbush Ave
• 3,360 square feet

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$161,127

Cap Rate

4.24%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,222,540 $3.2M

Cap Rate 7%

$2,301,814 $2.3M

Cap Rate 9%

$1,790,300 $1.8M

Market Conditions

NOI Build-Up for 3,360 SF

Gross rent

$261.3K $77.76/SF

− Vacancy

−$31.1K −$9.25/SF

EGI

$230.2K $68.51/SF

− OpEx

−$69.1K −$20.55/SF

NOI

$161.1K $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%

$3,222,540

Cap Rate 7%

$2,301,814

Cap Rate 9%

$1,790,300

Alternative Uses

Best Use

Retail

$2.30M

$2.01M – $2.69M (±1% cap)

NOI $161,127 @ 7.0% cap · market cap 4.24%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$2.78M

$2.43M – $3.25M (±1% cap)

NOI $194,746 @ 7.0% cap · market cap 5.12%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Storefront properties

Suggested Use

Top Pick Law Firm Real Estate Agency Parking Lot & Garage Gym & Fitness Center Skin Care Clinic Acupuncture

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

3,827

Businesses Nearby

67k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 58% Dining 42%

Dollar Tree Shops & Services

20,258 visits/mo 0.3 miles

Starbucks Dining

15,080 visits/mo 0.1 miles

Dunkin' Donuts Dining

13,009 visits/mo 0.0 miles

AutoZone Shops & Services

8,529 visits/mo 0.1 miles

Plaza Toyota Service & Parts Shops & Services

7,969 visits/mo 0.5 miles

Demographics for 11210, NY

62,805

Population

22,817

Households

2.8

Avg Household Size

38

Median Age

39%

College-Educated

89%

High-School Grad

1.6 sq mi

ZIP Area

39,253

Density / Sq Mi

$83,261

Median Household Income

$50,286

Median Earnings

$1,734

Median Rent

$817,600

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this storefront properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Storefront property - The site brings together four lots at a Flatbush Avenue corner, with convenient access to Kings Highway.

Where is this storefront property located?

The property is located at 1884 Flatbush Ave Brooklyn, NY.

What is the asking price?

The asking price for this property is $3,800,000.

What are key features of this property?

This property features: Vacant storefront property assembled from 4 lots; Corner parcel with 225’ of frontage on Flatbush Ave; 3,360 square feet