Office Unit with Installed
New
For Sale
$1,200,000
1916 Ocean Ave, Brooklyn, NY 11230
Commercial Sale, Brooklyn, NY
Property Size3,200 SF
Price / SF$375
Days on Market2
Property Features for 1916 Ocean Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Midwood
High school district
000000
Standard status
Active
APN
000000-000.000-6757-1401.000
Size
3,200 SF
Taxes and HOA fees
Tax Annual Amount
44796
Utilities
Heating system
Natural Gas, Electric (Heating), Hot Water(Heating)
Water source
Public
Building Details
Year built
2018
Building materials
Stucco
Listing Agency:
Statewide Properties LLC
(347) 560-4024
Listed By:
Vitaly Isaacs · License #10401300688
Added: Aug 19
Changed: Aug 20
Last Checked: Aug 20 at 5:06PM
MLS# 11941709
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 vacant office unit provides 3,200 square feet within an 8-story condominium building completed in 2018. The space includes a bathroom and an open interior layout, with plumbing, fire sprinklers, electrical, mechanical systems, and other utilities already installed. Ceiling height is 8 feet 8 inches, with an additional 1 foot above the ceiling for wiring access. The building exterior is stucco, and the property is served by public water.
The entrance faces Ocean Ave in Brooklyn’s Midwood area. Public transportation, shopping, restaurants, and the beach are identified nearby, with additional Chinatown destinations referenced at Avenue U and 86th Street. The space is presented for community facility uses including medical, dental, chiropractic, adult or child daycare, academy, tutoring, museum, nonprofit office, general community center, and religious applications.
The entrance faces Ocean Ave in Brooklyn’s Midwood area. Public transportation, shopping, restaurants, and the beach are identified nearby, with additional Chinatown destinations referenced at Avenue U and 86th Street. The space is presented for community facility uses including medical, dental, chiropractic, adult or child daycare, academy, tutoring, museum, nonprofit office, general community center, and religious applications.
Key Highlights
- 3,200‑square‑foot office unit in an 8‑story condominium building
- Completed in 2018 with stucco construction
- Bathroom and open interior space in 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
$79,834
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
6.65%
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%
$1,596,680
$1.6M
Cap Rate 7%
$1,140,486
$1.1M
Cap Rate 9%
$887,044
$887.0K
Market Conditions
NOI Build-Up for 3,200 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
$138.2K $43.20/SF
− Vacancy
−$31.8K −$9.94/SF
EGI
$106.4K $33.26/SF
− OpEx
−$26.6K −$8.32/SF
NOI
$79.8K $24.95/SF
Area
Brooklyn, NY
Vacancy
23.00%
Lease Rate
$43.20 /SF/Yr
Expense Ratio
25.00%
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%
$1,596,680
Cap Rate 7%
$1,140,486
Cap Rate 9%
$887,044
Alternative Uses
Best Use
Office B
$1.14M
$997.9K – $1.33M
NOI $79,834 @ 7.0% cap · market cap 6.65%
Second Best
Healthcare Medical
$1.06M
$927.4K – $1.24M
NOI $74,189 @ 7.0% cap · market cap 6.18%
Theoretical Best
Specialty Retail
$2.65M
$2.32M – $3.09M
NOI $185,472 @ 7.0% cap · market cap 15.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Yes
Sprinkler system
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
5,356
Businesses Nearby
Explore this area
Business Placement
Demographics for 11230, NY
91,391
Population
34,269
Households
2.7
Avg Household Size
35
Median Age
44%
College-Educated
82%
High-School Grad
1.8 sq mi
ZIP Area
50,773
Density / Sq Mi
$69,522
Median Household Income
$43,135
Median Earnings
$1,734
Median Rent
$863,400
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Vacant interior commercial unit configured for community, medical, educational, and nonprofit office applications.
Where is this office units located?
The property is located at 1916 Ocean Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 3,200‑square‑foot office unit in an 8‑story condominium building; Completed in 2018 with stucco construction; Bathroom and open interior space in place
