Prime Retail Property with Development
For Sale
$5,990,000
2232 Pitkin Ave, Brooklyn, NY 11207
Retail property with development potential in East New York retail corridor.
Property Size7,500 SF
Lot Size0.26 Acres
Price / SF$798.67
Days on Market101
Property Features for 2232 Pitkin Ave
General Information
Standard status
Active
Size
7,500 SF
Lot size
0.26 Acres
Property subtype
Commercial
Building Details
Year Built
2002
Listing Agency:
WINZONE REALTY INC.
(718) 899-7000
Listed By:
Arnold Min
(718) 899-7000
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Aug 2 at 12:41PM
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 WINZONE REALTY INC.
Investment Insights
Based on property information with market context.
This property at 2232 Pitkin Avenue, Brooklyn, NY 11207, presents a rare opportunity for investors, developers, and end-users. It is located in the heart of the East New York retail corridor along Pitkin Avenue. The property features a 7,500 square foot single-story commercial building with frontage on a busy retail strip. Situated on an 11,325 square foot lot, the property is located within an R7A zoning district, offering potential for mixed-use or residential redevelopment in addition to retail use. The surrounding area is densely populated with significant residential density and daily foot traffic. Half of the property is owner-occupied, creating a value-add opportunity for a buyer to lease the space at market rent. A private parking lot for up to 10 cars is included with the sale of the property. The location has a bike score of 64, indicating it is bikeable, a walk score of 59, indicating it is somewhat walkable, and a transit score of 76, indicating excellent transit options.
Key Highlights
- Large 11,325 Sq Ft lot with a 7,500 Sq Ft commercial building in the East New York retail corridor.
- R7A zoning allows for mixed‑use or residential redevelopment potential.
- Excellent transit score of 76.
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 | $583.2k | $77.76 |
| − Vacancy | −$69.4k | −$9.25 |
| EGI | $513.8k | $68.51 |
| − OpEx | −$154.1k | −$20.55 |
| NOI | $359.7k | $47.95 |
7,500 SF · lease $77.76/SF/yr · vacancy 11.90% · expense 30.00%
Alternative Uses
Best Use
Retail
$5.14M
$4.50M – $5.99M
NOI $359,659 @ 7.0% cap · market cap 6.00%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.21M
$5.43M – $7.25M
NOI $434,700 @ 7.0% cap · market cap 7.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,159
Businesses Nearby
100k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 50%
Dining 35%
Groceries 13%
Electronics 2%
McDonald's
Dining
32,207 visits/mo
0.2 miles
Mobil
Shops & Services
25,696 visits/mo
0.2 miles
C-Town Supermarkets
Groceries
6,985 visits/mo
0.4 miles
C-Town Supermarkets
Groceries
6,380 visits/mo
0.3 miles
Advance Auto Parts
Shops & Services
5,958 visits/mo
0.4 miles
Demographics for 11207, NY
100,330
Population
38,030
Households
2.6
Avg Household Size
35
Median Age
19%
College-Educated
81%
High-School Grad
2.7 sq mi
ZIP Area
37,159
Density / Sq Mi
$55,419
Median Household Income
$41,008
Median Earnings
$1,443
Median Rent
$657,400
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
- Gaby Flowers — 186 Granville Payne Ave, Brooklyn, NY 11207
- Little Shop Of Soil — 2233 Linden Blvd, Brooklyn, NY 11207
- Gardenia Flower Shop — 2691 Atlantic Ave, Brooklyn, NY 11207
- Gaby Flowers — 200 Granville Payne Ave, Brooklyn, NY 11207
- Atlantic- Liberty Ave Florist — 2819 Atlantic Ave, Brooklyn, NY 11207
Frequently Asked Questions
What type of property is this?
Storefront property - Retail property with development potential in East New York retail corridor.
Where is this storefront property located?
The property is located at 2232 Pitkin Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $5,990,000.
What are key features of this property?
This property features: Large 11,325 Sq Ft lot with a 7,500 Sq Ft commercial building in the East New York retail corridor.; R7A zoning allows for mixed‑use or residential redevelopment potential.; Excellent transit score of 76.
