Brooklyn Development Opportunity
For Sale
$3,300,000
2258 Atlantic Ave, Brooklyn, NY 11233
Five contiguous lots, up to 28,000 buildable square feet.
Property Size5,810 SF
Days on Market231
Property Features for 2258 Atlantic Ave
General Information
Standard status
Active
Size
5,810 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$21,083
Building Details
Building Size
5,810 SF
Listing Agency:
Prime Realty
Listed By:
Fei Chen
(646) 427-0200
Source:
Elliman
Added: Mar 10
Changed: Oct 25
Last Checked: Jul 16 at 11:44AM
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 Prime Realty
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Investment Insights
Based on property information with market context.
This Brooklyn development assemblage offers up to approximately 28,000 buildable square feet. The site consists of five contiguous tax lots at the corner of Atlantic Avenue, Rockaway Avenue, and Rochester Avenue. The uniquely shaped development footprint has substantial street frontage and exposure along one of Brooklyn’s active redevelopment corridors. The site's zoning and location allow for mixed-use, residential rental, condominium, or community facility projects. There are opportunities to incorporate ground-floor retail and modern residential units. The site is located minutes from Broadway Junction, one of New York City’s transportation hubs. Multiple subway lines, including the A, C, J, L, and Z trains, connect the property directly to Downtown Brooklyn, Lower Manhattan, and Queens. The property also benefits from proximity to major roadways such as Atlantic Avenue, Eastern Parkway, and the Jackie Robinson Parkway. The surrounding neighborhood has new residential developments, retail growth, and infrastructure improvements. Ocean Hill and Bedford-Stuyvesant have become active development zones. The corridor around Atlantic Avenue and Rockaway Avenue has boutique rental buildings, renovated brownstones, creative offices, and new community spaces. The area attracts young professionals, families, and investors.
Key Highlights
- Up to 28,000 buildable square feet in a rapidly developing Brooklyn location.
- Prime location near Broadway Junction, a major transportation hub with access to multiple subway lines (A, C, J, L, Z).
- Assemblage of five contiguous lots with substantial street frontage and exposure.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$210,903
Cap Rate
6.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,218,060
$4.2M
Cap Rate 7%
$3,012,900
$3.0M
Cap Rate 9%
$2,343,367
$2.3M
Market Conditions
NOI Build-Up for 5,810 SF
Gross rent
$383.5K $66.00/SF
− Vacancy
−$46.0K −$7.92/SF
EGI
$337.4K $58.08/SF
− OpEx
−$126.5K −$21.78/SF
NOI
$210.9K $36.30/SF
Area
Brooklyn, NY
Vacancy
12.00%
Lease Rate
$66.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,218,060
Cap Rate 7%
$3,012,900
Cap Rate 9%
$2,343,367
Alternative Uses
Best Use
Mixed Use
$3.01M
$2.64M – $3.52M
NOI $210,903 @ 7.0% cap · market cap 6.39%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.81M
$4.21M – $5.61M
NOI $336,748 @ 7.0% cap · market cap 10.20%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,661
Businesses Nearby
Explore this area
Business Placement
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
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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Commercial land - Five contiguous lots, up to 28,000 buildable square feet.
Where is this commercial land located?
The property is located at 2258 Atlantic Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: Up to 28,000 buildable square feet in a rapidly developing Brooklyn location.; Prime location near Broadway Junction, a major transportation hub with access to multiple subway lines (A, C, J, L, Z).; Assemblage of five contiguous lots with substantial street frontage and exposure.
