Two-Story Mixed-Use
New
For Sale
$5,500,000
204 25th Street, Brooklyn, NY 11232
Upper-level vacancy offers flexible office or owner-user space with loading access and shared workplace amenities.
Property Size14,084 SF
Days on Market2
Property Features for 204 25th Street
General Information
Standard status
Active
Size
14,084 SF
Property subtype
Commercial
Lease Term
± 3 Years
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Gross Income
$168,000
Amenities
conference rooms
shared kitchen space
outdoor deck
Building Details
Building Size
14,084 SF
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Matthews Real Estate Investments Services | New York
(718) 554-0337
Listed By:
Bobby Lawrence · License #10401300331 (NY)
(718) 554-0337
Source:
Matthews
Added: Aug 12
Changed: Aug 13
Last Checked: Aug 13 at 5:29AM
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 Matthews Real Estate Investments Services | New York
Investment Insights
Based on property information with market context.
This two-story mixed-use property combines an occupied ground-floor fitness operation with a vacant second floor suited to office occupancy or lease-up. The first floor is leased to Elite Barbell through 2029 and includes HVAC, 400 Amps of electrical power, ADA-compliant restrooms and showers, concrete floors, a large roll-up gate, loading access, and a rear yard.
Approximately 7,050 SF on the second floor will be delivered vacant. Its existing improvements include HVAC, ADA-compliant restrooms, polished concrete floors, conference rooms, shared kitchen space, and an outdoor deck. A 15-foot driveway along the east side supports loading and deliveries.
The property is located 100 feet from the R train entrance at 25th Street. The D, N, and R train entrance at 36th Street is nine blocks away, providing access to multiple subway lines.
Approximately 7,050 SF on the second floor will be delivered vacant. Its existing improvements include HVAC, ADA-compliant restrooms, polished concrete floors, conference rooms, shared kitchen space, and an outdoor deck. A 15-foot driveway along the east side supports loading and deliveries.
The property is located 100 feet from the R train entrance at 25th Street. The D, N, and R train entrance at 36th Street is nine blocks away, providing access to multiple subway lines.
Key Highlights
- Occupied by Elite Barbell through 2029
- Approximately 7,050 SF of vacant second‑floor space
- 400 Amps of electrical power on the first floor
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
$351,368
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
6.39%
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%
$7,027,360
$7.0M
Cap Rate 7%
$5,019,543
$5.0M
Cap Rate 9%
$3,904,089
$3.9M
Market Conditions
NOI Build-Up for 14,084 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
$608.4K $43.20/SF
− Vacancy
−$139.9K −$9.94/SF
EGI
$468.5K $33.26/SF
− OpEx
−$117.1K −$8.32/SF
NOI
$351.4K $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%
$7,027,360
Cap Rate 7%
$5,019,543
Cap Rate 9%
$3,904,089
Alternative Uses
Best Use
Mixed Use
$7.30M
$6.39M – $8.52M
NOI $511,249 @ 7.0% cap · market cap 9.30%
Second Best
Office B
$5.02M
$4.39M – $5.86M
NOI $351,368 @ 7.0% cap · market cap 6.39%
Theoretical Best
Specialty Retail
$11.66M
$10.20M – $13.61M
NOI $816,309 @ 7.0% cap · market cap 14.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,859
Businesses Nearby
Explore this area
Business Placement
Demographics for 11232, NY
30,181
Population
10,004
Households
3
Avg Household Size
35
Median Age
36%
College-Educated
69%
High-School Grad
1.2 sq mi
ZIP Area
25,151
Density / Sq Mi
$87,517
Median Household Income
$45,983
Median Earnings
$1,972
Median Rent
$782,500
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?
Mixed-use property - Upper-level vacancy offers flexible office or owner-user space with loading access and shared workplace amenities.
Where is this mixed-use property located?
The property is located at 204 25th Street 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: Occupied by Elite Barbell through 2029; Approximately 7,050 SF of vacant second‑floor space; 400 Amps of electrical power on the first floor
