Contiguous Commercial Land
For Sale
$4,499,000
2187 Bergen St, Brooklyn, NY 11233
Two connected lots offer zoning-supported potential for residential, mixed-use, or community facility development.
Property Size4,040 SF
Price / SF$1,113
Days on Market293
Property Features for 2187 Bergen St
General Information
Standard status
Active
Size
4,040 SF
Property subtype
Commercial
Building Details
Year Built
1921
Listing Agency:
Charles Rutenberg Realty Inc
Listed By:
Anthony E. Dabreu rpfeffer@crrli.net
Source:
Jaida.mappmyhome
Added: Dec 5, 2025
Changed: Sep 20
Last Checked: Sep 22 at 5:35PM
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 Charles Rutenberg Realty Inc
Investment Insights
Based on property information with market context.
This commercial land assemblage includes two contiguous lots at 2183 and 2187 Bergen Street in Brooklyn. The parcels measure approximately 25 ft x 101.08 ft and 40 ft x 107.17 ft, creating a combined development site with substantial frontage and depth. The property carries R7A / R6 / C2-4 zoning, supporting several potential development paths subject to applicable requirements and approvals.
Potential concepts identified for the site include a multi-unit residential building, mixed-use construction with commercial space at street level and residences above, community facility use, or a combination of these approaches. Under the stated MIH and UAP housing program framework, residential development in an R7A district may reach a maximum FAR of 5.01, subject to program compliance, with up to approximately 36,000 buildable square feet indicated. The property is positioned in Bedford-Stuyvesant near Crown Heights and Ocean Hill, with proximity to transportation, retail, and neighborhood amenities.
Potential concepts identified for the site include a multi-unit residential building, mixed-use construction with commercial space at street level and residences above, community facility use, or a combination of these approaches. Under the stated MIH and UAP housing program framework, residential development in an R7A district may reach a maximum FAR of 5.01, subject to program compliance, with up to approximately 36,000 buildable square feet indicated. The property is positioned in Bedford-Stuyvesant near Crown Heights and Ocean Hill, with proximity to transportation, retail, and neighborhood amenities.
Key Highlights
- Two contiguous lots measuring approximately 25 ft x 101.08 ft and 40 ft x 107.17 ft
- R7A / R6 / C2‑4 zoning
- Up to approximately 36,000 buildable square feet indicated
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
$193,737
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
4.31%
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%
$3,874,740
$3.9M
Cap Rate 7%
$2,767,671
$2.8M
Cap Rate 9%
$2,152,633
$2.2M
Market Conditions
NOI Build-Up for 4,040 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
$314.2K $77.76/SF
− Vacancy
−$37.4K −$9.25/SF
EGI
$276.8K $68.51/SF
− OpEx
−$83.0K −$20.55/SF
NOI
$193.7K $47.95/SF
Area
Brooklyn, NY
Vacancy
11.90%
Lease Rate
$77.76 /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%
$3,874,740
Cap Rate 7%
$2,767,671
Cap Rate 9%
$2,152,633
Alternative Uses
Best Use
Retail
$2.77M
$2.42M – $3.23M
NOI $193,737 @ 7.0% cap · market cap 4.31%
Second Best
Industrial
$1.03M
$898.4K – $1.20M
NOI $71,872 @ 7.0% cap · market cap 1.60%
Theoretical Best
Specialty Retail
$3.35M
$2.93M – $3.90M
NOI $234,158 @ 7.0% cap · market cap 5.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,645
Businesses Nearby
87k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 48%
Groceries 30%
Apparel 15%
Beauty & Spa 2%
America's Food Basket
Groceries
13,570 visits/mo
0.3 miles
Dollar Tree
Shops & Services
10,409 visits/mo
0.3 miles
Family Dollar
Shops & Services
9,850 visits/mo
0.3 miles
Family Dollar
Shops & Services
7,329 visits/mo
0.5 miles
Fine Fare
Groceries
6,908 visits/mo
0.3 miles
Demographics for 11233, NY
75,399
Population
34,412
Households
2.2
Avg Household Size
35
Median Age
33%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
57,999
Density / Sq Mi
$62,034
Median Household Income
$47,149
Median Earnings
$1,613
Median Rent
$1,013,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Commercial land - Two connected lots offer zoning-supported potential for residential, mixed-use, or community facility development.
Where is this commercial land located?
The property is located at 2187 Bergen St Brooklyn, NY.
What is the asking price?
The asking price for this property is $4,499,000.
What are key features of this property?
This property features: Two contiguous lots measuring approximately 25 ft x 101.08 ft and 40 ft x 107.17 ft; R7A / R6 / C2‑4 zoning; Up to approximately 36,000 buildable square feet indicated
