Established Brooklyn Mechanic/Body
For Sale
$2,950,000
218 48th St, Brooklyn, NY 11220
Massive 5200 Sq Ft warehouse, turn-key mechanic/body shop.
Property Size5,200 SF
Price / SF$567.31
Days on Market112
Property Features for 218 48th St
General Information
Standard status
Active
Size
5,200 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$23,641
Building Details
Building Size
5,200 SF
Year Built
1978
Stories
1
Listing Agency:
RE/MAX Real Estate Professiona
(718) 532-2000
Listed By:
Billy Apter · License #BEA5721
(718) 532-2000
Source:
Elliman
Added: Apr 24
Changed: Aug 12
Last Checked: Aug 12 at 6:36AM
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 RE/MAX Real Estate Professiona
Investment Insights
Based on property information with market context.
This is a solid brick, massive 5200 square foot warehouse, complete with a turn-key, fully established mechanic and body shop. Located in prime Sunset Park, Brooklyn, this property features multiple state-of-the-art lifts, a new spray booth, chassis straightening equipment, and hand tools. It also includes a private office space. The property is centrally located, minutes from Manhattan and Downtown Brooklyn. The location has a Walk Score of 94, making it a Walker's Paradise, a Bike Score of 69, indicating it is Bikeable, and a Transit Score of 78, showing Excellent Transit.
Key Highlights
- Massive 5200 sq ft solid brick warehouse, perfect for various business ventures.
- Turn‑key fully established mechanic/body shop ready for immediate operation.
- Prime Sunset Park Brooklyn location.
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
$137,286
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
4.65%
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%
$2,745,720
$2.7M
Cap Rate 7%
$1,961,229
$2.0M
Cap Rate 9%
$1,525,400
$1.5M
Market Conditions
NOI Build-Up for 5,200 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
$218.4K $42.00/SF
− Vacancy
−$22.3K −$4.28/SF
EGI
$196.1K $37.72/SF
− OpEx
−$58.8K −$11.31/SF
NOI
$137.3K $26.40/SF
Area
ZIP 11220
Vacancy
10.20%
Lease Rate
$42.00 /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%
$2,745,720
Cap Rate 7%
$1,961,229
Cap Rate 9%
$1,525,400
Alternative Uses
Best Use
Retail
$1.96M
$1.72M – $2.29M
NOI $137,286 @ 7.0% cap · market cap 4.65%
Second Best
Industrial
$1.66M
$1.45M – $1.93M
NOI $116,066 @ 7.0% cap · market cap 3.93%
Theoretical Best
Office A
$3.37M
$2.95M – $3.93M
NOI $235,972 @ 7.0% cap · market cap 8.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,368
Businesses Nearby
77k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 32%
Groceries 29%
Shops & Services 27%
Apparel 8%
Key Food
Groceries
17,068 visits/mo
0.4 miles
Dunkin' Donuts
Dining
15,098 visits/mo
0.4 miles
Chase Bank
Shops & Services
13,539 visits/mo
0.3 miles
Chipotle Mexican Grill
Dining
7,663 visits/mo
0.5 miles
Bravo Supermarkets
Groceries
5,355 visits/mo
0.2 miles
Demographics for 11220, NY
105,797
Population
30,897
Households
3.4
Avg Household Size
35
Median Age
25%
College-Educated
62%
High-School Grad
1.7 sq mi
ZIP Area
62,234
Density / Sq Mi
$64,201
Median Household Income
$31,489
Median Earnings
$1,688
Median Rent
$1,021,200
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- 1068 Utica Ave Auto Body Inc — 1068 Utica Ave, Brooklyn, NY 11203
- E & L Collision — 1062 Utica Ave, Brooklyn, NY 11203
- Transwise Transmissions — 1028 Utica Ave, Brooklyn, NY 11203
- Trans Auto Repair — 1028 Utica Ave, Brooklyn, NY 11203
- Gee's Auto Corp — 1095 Utica Ave, Brooklyn, NY 11203
Frequently Asked Questions
What type of property is this?
Auto shop - Massive 5200 Sq Ft warehouse, turn-key mechanic/body shop.
Where is this auto shop located?
The property is located at 218 48th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: Massive 5200 sq ft solid brick warehouse, perfect for various business ventures.; Turn‑key fully established mechanic/body shop ready for immediate operation.; Prime Sunset Park Brooklyn location.
