Turnkey Butcher Shop
For Sale
$750,000
219 Prospect Park West, Brooklyn, NY 11215
Turnkey butcher shop with a decades-long reputation and loyal customer base in a highly walkable neighborhood.
Property Size1,100 SF
Price / SF$681.82
Days on Market38
Property Features for 219 Prospect Park West
General Information
Standard status
Active
Size
1,100 SF
Property subtype
Business
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$8,500
Building Details
Building Size
1,100 SF
Listing Agency:
E House Realty & Mgt. Inc.
(718) 680-2776
Listed By:
Shu Yan (Helen) Lin · License #SYL5656
Source:
Penrealty
Added: Jul 18
Changed: Aug 23
Last Checked: Aug 23 at 4:34AM
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 E House Realty & Mgt. Inc.
Investment Insights
Based on property information with market context.
This turnkey neighborhood butcher shop has been operating for decades and is supported by a loyal customer base and a well-established reputation. The current owner is retiring, presenting a straightforward ownership transition for an owner-operator or an experienced food business investor seeking immediate income potential. The business is described as generating consistent cash flow.
Located at 219 Prospect Park W in Brooklyn, the area is characterized by very strong walk and transit access, with Walk Score 93 and Transit Score 95, and it is also rated Very Bikeable with a Bike Score of 81.
Serious inquiries only. For additional information or to schedule a confidential showing, interested parties should request details through the listing broker.
Located at 219 Prospect Park W in Brooklyn, the area is characterized by very strong walk and transit access, with Walk Score 93 and Transit Score 95, and it is also rated Very Bikeable with a Bike Score of 81.
Serious inquiries only. For additional information or to schedule a confidential showing, interested parties should request details through the listing broker.
Key Highlights
- Neighborhood butcher shop with a decades‑long reputation
- Longstanding operation with a loyal customer base
- Highly walkable area with Walk Score of 93 and Transit Score of 95
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
$63,756
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
8.50%
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%
$1,275,120
$1.3M
Cap Rate 7%
$910,800
$910.8K
Cap Rate 9%
$708,400
$708.4K
Market Conditions
NOI Build-Up for 1,100 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
$92.4K $84.00/SF
− Vacancy
−$7.4K −$6.72/SF
EGI
$85.0K $77.28/SF
− OpEx
−$21.3K −$19.32/SF
NOI
$63.8K $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%
$1,275,120
Cap Rate 7%
$910,800
Cap Rate 9%
$708,400
Alternative Uses
Best Use
Specialty Retail
$910.8K
$797.0K – $1.06M
NOI $63,756 @ 7.0% cap · market cap 8.50%
Second Best
Retail
$753.6K
$659.4K – $879.2K
NOI $52,750 @ 7.0% cap · market cap 7.03%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,648
Businesses Nearby
43k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 49%
Groceries 35%
Shops & Services 11%
Apparel 3%
Windsor Farms Market
Groceries
15,116 visits/mo
0.2 miles
Dunkin' Donuts
Dining
8,912 visits/mo
0.1 miles
Chipotle Mexican Grill
Dining
6,971 visits/mo
0.2 miles
Santander Bank
Shops & Services
4,660 visits/mo
0.1 miles
Fonda
Dining
4,409 visits/mo
0.4 miles
Demographics for 11215, NY
67,493
Population
32,197
Households
2.1
Avg Household Size
37
Median Age
80%
College-Educated
96%
High-School Grad
2.2 sq mi
ZIP Area
30,679
Density / Sq Mi
$180,773
Median Household Income
$99,151
Median Earnings
$2,803
Median Rent
$1,674,700
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Marketplace By Key Food — 615 5th Ave, Brooklyn, NY 11215
- Associated Fresh — 615 5th Ave, Brooklyn, NY 11215
- Prospect Market — 236-238 Prospect Park W, Brooklyn, NY 11215
- Neighborhood Deli & Grocery Inc — 326 Greenwood Ave, Brooklyn, NY 11218
- Seeley Deli — 251 seeley st, brooklyn, ny 11218
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Turnkey butcher shop with a decades-long reputation and loyal customer base in a highly walkable neighborhood.
Where is this grocery and convenience store located?
The property is located at 219 Prospect Park West Brooklyn, NY.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Neighborhood butcher shop with a decades‑long reputation; Longstanding operation with a loyal customer base; Highly walkable area with Walk Score of 93 and Transit Score of 95
