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    Homecrest Retail Storefront with Abatement Title is generated by Realmo AI

    2218 Ocean Ave, Brooklyn, NY

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    Retail property in prime Homecrest location with tax abatement.

    Type:RETAIL
    Property size:
    1,490 SF
    Lot size:
    0.22 Acres
    Price / SF:
    $798/SF
    Added:
    Nov 28, 2025
    Days on Market:
    221
    Last Refresh:
    Apr 5 at 9:15 pm

    Property Features for 2218 Ocean Ave

    General Information

    Standard status
    Active
    Size
    1,490 SF
    Lot size
    0.22 Acres
    Property subtype
    RETAIL

    We can help!

    Contact an agent
    Arsen Atbashyan
    Arsen Atbashyan

    Listing office Commercial Acquisitions Realty Services

    Listing date Nov 28, 2025

    Source Moodyscre

    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 Commercial Acquisitions Realty Services

    HighLights

    • 13 year tax abatement
    • Prime Homecrest location
    • High‑traffic area
    • Great signage opportunity
    • Surrounded by major businesses
    • Built in 2020

    Overview

    This retail property, constructed in 2020, features a 20-foot frontage and benefits from a 13-year tax abatement. Situated in the Homecrest neighborhood, the location offers significant signage opportunities and high pedestrian and vehicular traffic. The property is surrounded by established businesses and is conveniently located near public transportation. The building provides 1490 square feet of space.

    Local Financial Insights For Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $115.9k $77.76
    − Vacancy −$13.8k −$9.25
    EGI $102.1k $68.51
    − OpEx −$30.6k −$20.55
    NOI $71.5k $47.95
    1,490 SF · lease $77.76/SF/yr · vacancy 11.90% · expense 30.00%

    Alternative Uses

    Best Use
    Retail
    $1.02M
    $893.2K – $1.19M (±1% cap)
    NOI $71,452 @ 7.0% cap · market cap 6.00%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Specialty Retail
    $1.23M
    $1.08M – $1.44M (±1% cap)
    NOI $86,360 @ 7.0% cap · market cap 7.26%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Mestechkin Law Group ... Law Firm Glass Repair Works ... Hardware & Home Improvement

    Suggested Use

    Parking Lot & Garage Hotel & Motel Real Estate Agency Bar & Pub Nursing Home Nursing Home Coworking & Hybrid Office Bed & Breakfast Grocery & Convenience Store Pet Grooming Service

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • U & Me Garden — 1404 Avenue U, Brooklyn, NY 11229
    • Fresh rose — Brooklyn, NY 11223
    • Julie's Flower — 2374 Coney Island Ave, Brooklyn, NY 11223
    • Three S Flowers — 2374 coney island ave, brooklyn, ny 11223
    • Elite Flowers & Balloons — 907 Avenue U, Brooklyn, NY 11223

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9534
    Latitude
    40.6077

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    FAQs

    What type of property is this?
    Storefront property - Retail property in prime Homecrest location with tax abatement.
    Where is this storefront property located?
    The property is located at 2218 Ocean Ave Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $1,190,000.
    What are key features of this property?
    This property features: 13 year tax abatement; Prime Homecrest location; High‑traffic area
    (917) 939-3760 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Arsen Atbashyan
    Arsen Atbashyan
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