Semi-Attached Storefront
For Sale
$1,199,000
2178 Flatbush Avenue, Brooklyn, NY 11234
COMMERCIAL - Brooklyn, NY
Property Size2,380 SF
Lot Size0.04 Acres
Price / SF$503.78
Days on Market323
Property Features for 2178 Flatbush Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R3- C2-2
Basement
Full, Finished
Subdivision
Marine Park
Standard status
Active
Size
2,380 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
20108
Amenities
finished basement with commercial kitchen
each unit has its own HVAC system
Building Details
Year built
2005
Floors in Building
2
Number of units
2
Building materials
Masonry
Roof type
Flat
Listing Agency:
Bergen Basin Realty LLC
(718) 763-4110
Listed By:
Doreen Alfano
(718) 763-4110
Added: Oct 1, 2025
Changed: Aug 4
Last Checked: Aug 19 at 11:06PM
MLS# 496241
Copyright © 2026 Brooklyn New York Multiple Listing Service. 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.
Welcome to 2178 Flatbush Avenue, a semi-attached storefront building offering two separate units. Each unit has its own HVAC system. The building also features a finished basement with a commercial kitchen. The property will be delivered vacant.
The building is zoned R3- C2-2 and is built with masonry construction under a flat roof. It was built in 2005. The lot size is 0.0402 acres, with a building size of 17.5 x 68 and a property size of 17.5 x 100, totaling 2,380 square feet.
Located in a high-traffic area, the property is near public transportation and provides easy access to the Belt Parkway.
The building is zoned R3- C2-2 and is built with masonry construction under a flat roof. It was built in 2005. The lot size is 0.0402 acres, with a building size of 17.5 x 68 and a property size of 17.5 x 100, totaling 2,380 square feet.
Located in a high-traffic area, the property is near public transportation and provides easy access to the Belt Parkway.
Key Highlights
- Two separate storefront units, each with its own HVAC system
- Finished basement with a commercial kitchen
- Zoned R3- C2‑2
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
$42,341
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
3.53%
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%
$846,820
$846.8K
Cap Rate 7%
$604,871
$604.9K
Cap Rate 9%
$470,456
$470.5K
Market Conditions
NOI Build-Up for 2,380 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
$63.4K $26.64/SF
− Vacancy
−$2.9K −$1.23/SF
EGI
$60.5K $25.41/SF
− OpEx
−$18.1K −$7.62/SF
NOI
$42.3K $17.79/SF
Area
Brooklyn, NY
Vacancy
4.60%
Lease Rate
$26.64 /SF/Yr
Expense Ratio
30.00%
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%
$846,820
Cap Rate 7%
$604,871
Cap Rate 9%
$470,456
Alternative Uses
Best Use
Specialty Retail
$1.97M
$1.72M – $2.30M
NOI $137,945 @ 7.0% cap · market cap 11.51%
Second Best
Retail
$1.63M
$1.43M – $1.90M
NOI $114,132 @ 7.0% cap · market cap 9.52%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
11,936
Businesses Nearby
138k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 40%
Apparel 27%
Shops & Services 17%
Electronics 6%
New York Marriott at the Brooklyn Bridge
Hotels & Casinos
48,622 visits/mo
0.5 miles
Goodwill
Apparel
18,116 visits/mo
0.3 miles
Mobil
Shops & Services
10,567 visits/mo
0.3 miles
The UPS Store
Shops & Services
9,497 visits/mo
0.4 miles
Bravo Supermarkets
Groceries
7,424 visits/mo
0.4 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?
Storefront property - Semi-attached storefront with two separate units, each with its own HVAC, plus a finished basement commercial kitchen.
Where is this storefront property located?
The property is located at 2178 Flatbush Avenue 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: Two separate storefront units, each with its own HVAC system; Finished basement with a commercial kitchen; Zoned R3- C2‑2
