Commercial Building with
For Sale
$1,199,000
2178 Flatbush Ave, Brooklyn, NY 11234
Semi-attached commercial building with two units and commercial kitchen.
Property Size1,190 SF
Lot Size0.04 Acres
Price / SF$1,007
Days on Market164
Property Features for 2178 Flatbush Ave
General Information
Standard status
Active
Size
1,190 SF
Lot size
0.04 Acres
Property subtype
Commercial
Building Details
Year Built
2005
Listing Agency:
BERGEN BASIN REALTY LLC
(718) 763-4110
Listed By:
Jason Sciulara
(718) 763-4110
Source:
Elliman
Added: Mar 10
Changed: Jul 10
Last Checked: Aug 20 at 9:53AM
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 BERGEN BASIN REALTY LLC
Investment Insights
Based on property information with market context.
Located on Flatbush Avenue, this semi-attached commercial building features two separate units, each equipped with its own HVAC system. The building includes a finished basement with a commercial kitchen. The building size is 17.5 x 68 feet, situated on a 17.5 x 100 feet property. The property is zoned R3-2/C2-2. The property is located in a high-traffic area and offers accessibility to public transportation and the Belt Parkway. The property will be delivered vacant.
Key Highlights
- Prime location in a high traffic area
- Two separate units with large floor plans
- Turn‑key ready and delivered vacant
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
$68,972
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
5.75%
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%
$1,379,440
$1.4M
Cap Rate 7%
$985,314
$985.3K
Cap Rate 9%
$766,356
$766.4K
Market Conditions
NOI Build-Up for 1,190 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
$100.0K $84.00/SF
− Vacancy
−$8.0K −$6.72/SF
EGI
$92.0K $77.28/SF
− OpEx
−$23.0K −$19.32/SF
NOI
$69.0K $57.96/SF
Area
Brooklyn, NY
Vacancy
8.00%
Lease Rate
$84.00 /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%
$1,379,440
Cap Rate 7%
$985,314
Cap Rate 9%
$766,356
Alternative Uses
Best Use
Specialty Retail
$985.3K
$862.2K – $1.15M
NOI $68,972 @ 7.0% cap · market cap 5.75%
Second Best
Industrial
$302.4K
$264.6K – $352.8K
NOI $21,170 @ 7.0% cap · market cap 1.77%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,908
Businesses Nearby
161k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 53%
Dining 31%
Groceries 14%
Hotels & Casinos 2%
McDonald's
Dining
44,677 visits/mo
0.1 miles
Speedway
Shops & Services
24,099 visits/mo
0.4 miles
Dollar Tree
Shops & Services
20,258 visits/mo
0.4 miles
Key Food
Groceries
17,150 visits/mo
0.4 miles
7-Eleven
Shops & Services
10,136 visits/mo
0.3 miles
Demographics for 11234, NY
92,133
Population
35,167
Households
2.6
Avg Household Size
41
Median Age
39%
College-Educated
89%
High-School Grad
7.4 sq mi
ZIP Area
12,450
Density / Sq Mi
$94,434
Median Household Income
$55,206
Median Earnings
$1,771
Median Rent
$746,800
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial kitchen - Semi-attached commercial building with two units and commercial kitchen.
Where is this commercial kitchen located?
The property is located at 2178 Flatbush Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Prime location in a high traffic area; Two separate units with **large floor plans**; Turn‑key ready and delivered vacant
