New Flex Space with High
New
For Sale
$2,380,000
2322 W 7th Street, Brooklyn, NY 11223
Commercial Sale, Brooklyn, NY
Property Size4,100 SF
Lot Size0.13 Acres
Price / SF$580.49
Days on Market5
Property Features for 2322 W 7th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C8-1
Parking features
On Street
Elementary school
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Middle school
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High school
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Elementary school district
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Middle school district
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High school district
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Standard status
Active
APN
07166-0015
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
34220
Building Details
Year built
2023
Building materials
Brick
Listing Agency:
Winzone Realty Inc
(718) 899-7000
Listed By:
Xiao Feng Pan CBR · License #31PA0929296
(917) 678-8888
Added: Aug 31
Last Checked: Sep 4 at 2:06AM
MLS# 1044886
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 2023, this newly constructed flex property uses steel and concrete construction and includes a Final C/O. The 22-foot ceiling height supports vertical storage, while a wide gate opening accommodates truck and delivery access. Gas service, 220V electrical power, and 400-amp capacity provide infrastructure for a range of commercial operations.
Zoned C8-1, the property may support warehouse, retail, storage, distribution, processing, and manufacturing uses, subject to applicable approvals. An ICAP 25-year tax abatement is in place. The property is situated on a wide street with approximately 100 feet of parking availability, with additional busy-hour parking subject to applicable regulations.
Zoned C8-1, the property may support warehouse, retail, storage, distribution, processing, and manufacturing uses, subject to applicable approvals. An ICAP 25-year tax abatement is in place. The property is situated on a wide street with approximately 100 feet of parking availability, with additional busy-hour parking subject to applicable regulations.
Key Highlights
- Newly constructed in 2023 with Final C/O
- 22‑foot ceiling height for vertical storage
- 400‑amp electrical capacity with 220V power
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
$98,498
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
4.14%
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%
$1,969,960
$2.0M
Cap Rate 7%
$1,407,114
$1.4M
Cap Rate 9%
$1,094,422
$1.1M
Market Conditions
NOI Build-Up for 4,100 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
$172.2K $42.00/SF
− Vacancy
−$20.7K −$5.04/SF
EGI
$151.5K $36.96/SF
− OpEx
−$53.0K −$12.94/SF
NOI
$98.5K $24.02/SF
Area
Brooklyn, NY
Vacancy
12.00%
Lease Rate
$42.00 /SF/Yr
Expense Ratio
35.00%
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%
$1,969,960
Cap Rate 7%
$1,407,114
Cap Rate 9%
$1,094,422
Alternative Uses
Best Use
Flex RnD
$1.41M
$1.23M – $1.64M
NOI $98,498 @ 7.0% cap · market cap 4.14%
Second Best
Warehouse
$1.27M
$1.11M – $1.48M
NOI $88,570 @ 7.0% cap · market cap 3.72%
Theoretical Best
Specialty Retail
$3.39M
$2.97M – $3.96M
NOI $237,636 @ 7.0% cap · market cap 9.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
22 ft
Clear height
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
4,513
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11223, NY
83,519
Population
28,857
Households
2.9
Avg Household Size
37
Median Age
34%
College-Educated
78%
High-School Grad
2.1 sq mi
ZIP Area
39,771
Density / Sq Mi
$63,950
Median Household Income
$40,592
Median Earnings
$1,653
Median Rent
$1,063,200
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - C8-1-zoned commercial property with truck access, gas service, and substantial electrical capacity.
Where is this flex space located?
The property is located at 2322 W 7th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,380,000.
What are key features of this property?
This property features: Newly constructed in 2023 with Final C/O; 22‑foot ceiling height for vertical storage; 400‑amp electrical capacity with 220V power
