Multi-Use Flex Industrial
For Sale
Contact for pricing
19 THAMES ST, Brooklyn, NY 11206
For-sale mixed-use flex and industrial property suitable for a range of tenant or owner-operator requirements.
Property Size15,000 SF
Price / SF$366.67
Days on Market57
Property Features for 19 THAMES ST
General Information
Standard status
Active
Size
15,000 SF
Class
B
Property subtype
Mixed Use
Zoning
M1-2
Occupancy
100%
Lease Type
NN
Investment Type
Stabilized
Net Operating Income
$416,000
Building Details
Year Built
1931
Year Renovated
2026
Buildings
2
Stories
2
Units
11
Tenancy
Multi
Listing Agency:
Douglas Elliman
(212) 337-6153
Listed By:
Shai Bernstein · License #NY 10301211975
Source:
Crexi
Added: Jun 18
Changed: Aug 8
Last Checked: Aug 12 at 2:34PM
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 Douglas Elliman
Investment Insights
Based on property information with market context.
This for-sale building offers a multi-use configuration that fits both flex space and industrial property needs, alongside storefront-style commercial use. The offering is sized for smaller-scale occupancy while maintaining a practical mix of adaptable commercial space types.
The property is located at 19 Thames St in Brooklyn, New York, within a dense urban setting that typically supports a mix of retail and light industrial activity. Access and visibility for a street-facing use are consistent with a storefront component, though specific frontage, loading, or curb-to-door details are not provided.
As a flexible commercial option, the property may be best suited for buyers and operators seeking a one-building solution that can accommodate a broader set of use profiles than a strictly specialized asset. The current listing information supports consideration for flex, industrial, and storefront tenants, with the building’s overall design intended to serve multiple commercial functions.
The property is located at 19 Thames St in Brooklyn, New York, within a dense urban setting that typically supports a mix of retail and light industrial activity. Access and visibility for a street-facing use are consistent with a storefront component, though specific frontage, loading, or curb-to-door details are not provided.
As a flexible commercial option, the property may be best suited for buyers and operators seeking a one-building solution that can accommodate a broader set of use profiles than a strictly specialized asset. The current listing information supports consideration for flex, industrial, and storefront tenants, with the building’s overall design intended to serve multiple commercial functions.
Key Highlights
- Built in 1931
- Mixed‑use flex and industrial property for a range of tenant or owner‑operator requirements
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
$360,360
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
6.55%
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%
$7,207,200
$7.2M
Cap Rate 7%
$5,148,000
$5.1M
Cap Rate 9%
$4,004,000
$4.0M
Market Conditions
NOI Build-Up for 15,000 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
$630.0K $42.00/SF
− Vacancy
−$75.6K −$5.04/SF
EGI
$554.4K $36.96/SF
− OpEx
−$194.0K −$12.94/SF
NOI
$360.4K $24.02/SF
Area
Brooklyn, NY
Vacancy
12.00%
Lease Rate
$42.00 /SF/Yr
Expense Ratio
35.00%
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%
$7,207,200
Cap Rate 7%
$5,148,000
Cap Rate 9%
$4,004,000
Alternative Uses
Best Use
Retail
$10.28M
$8.99M – $11.99M
NOI $719,319 @ 7.0% cap · market cap 13.08%
Second Best
Flex RnD
$5.15M
$4.50M – $6.01M
NOI $360,360 @ 7.0% cap · market cap 6.55%
Theoretical Best
Specialty Retail
$12.42M
$10.87M – $14.49M
NOI $869,400 @ 7.0% cap · market cap 15.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,725
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11206, NY
91,549
Population
34,838
Households
2.6
Avg Household Size
30
Median Age
36%
College-Educated
77%
High-School Grad
1.4 sq mi
ZIP Area
65,392
Density / Sq Mi
$57,280
Median Household Income
$44,145
Median Earnings
$1,558
Median Rent
$822,100
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?
Flex space - For-sale mixed-use flex and industrial property suitable for a range of tenant or owner-operator requirements.
Where is this flex space located?
The property is located at 19 THAMES ST Brooklyn, NY.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: Built in 1931; Mixed‑use flex and industrial property for a range of tenant or owner‑operator requirements
