Brick Automotive Service
For Sale
$2,950,000
218 48th Street, Brooklyn, NY 11220
Commercial, Brooklyn, NY
Property Size5,200 SF
Lot Size0.12 Acres
Price / SF$567.31
Days on Market301
Property Features for 218 48th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
M1-2D
Subdivision
Sunset Park
Standard status
Active
Size
5,200 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Annual Amount
23641
Amenities
lifts
spray booth
private office
Building Details
Year built
1978
Floors in Building
1
Number of units
1
Building materials
Brick
Roof type
Flat
Listing Agency:
RE/MAX Real Estate Professiona
(718) 532-2000
Listed By:
Vito Angelo · License #VITLO524
(718) 887-5708
Added: Nov 23, 2025
Changed: Sep 8
Last Checked: Sep 20 at 1:06PM
MLS# 497482
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.
This 5,200-square-foot brick automotive property includes a warehouse configured for mechanic and body-shop operations. The facility is equipped with multiple lifts, a new spray booth, chassis-straightening equipment, and hand tools, along with a private office. Built in 1978, the building has a flat roof and sits on a 0.1203-acre lot.
Located at 218 48th Street in Brooklyn, the property is identified within the 11220 postal area and carries M1-2D zoning. Its existing automotive-service improvements support continued use as an auto shop or related repair facility, subject to applicable requirements.
Located at 218 48th Street in Brooklyn, the property is identified within the 11220 postal area and carries M1-2D zoning. Its existing automotive-service improvements support continued use as an auto shop or related repair facility, subject to applicable requirements.
Key Highlights
- 5,200‑square‑foot warehouse with established mechanic and body‑shop layout
- Multiple automotive lifts included
- New spray booth
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
Warehouse
$1.88M
$1.64M – $2.19M
NOI $131,285 @ 7.0% cap · market cap 4.45%
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
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
5,239
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Northeast region
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Similar Off Market Nearby
- Gee's Auto Corp — 1095 Utica Ave, Brooklyn, NY 11203
- 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
Frequently Asked Questions
What type of property is this?
Auto shop - Brick facility with automotive service and collision-repair equipment, private office space, and M1-2D zoning.
Where is this auto shop located?
The property is located at 218 48th Street 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: 5,200‑square‑foot warehouse with established mechanic and body‑shop layout; Multiple automotive lifts included; New spray booth
