Building Details

Year Built 2023

Listing Agency: Winzone Realty Inc

Listed By: Xiao Feng Pan CBR · License #31PA0929296 Show Phone

Source: Realtyconnectusa

Added: Mar 26 Changed: Oct 25 Last Checked: Oct 7 at 12:53PM

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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

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Investment Insights

Based on property information with market context.

This new commercial building, constructed in 2024, features a loading dock and private driveway. The property benefits from a 25-year tax abatement. The building offers approximately 4,300 square feet of space with extra-high ceilings that allow for the potential construction of a second floor, adding another 4,300 square feet. The structure is built with poured concrete over steel beams and is equipped with 400 amps. Located on 86th Street and W 7th Street in Brooklyn, this property is suitable for various commercial and industrial uses, including an auto body, collision, and repair shop, warehouse, showroom, manufacturing, and distribution.

Key Highlights

• 25‑year tax abatement
• Brand new construction (2024)
• Large space: approx. 4,300 sq ft with potential for 8,600 sq ft with 2nd floor

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$103,303

Cap Rate

4.34%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,066,060 $2.1M

Cap Rate 7%

$1,475,757 $1.5M

Cap Rate 9%

$1,147,811 $1.1M

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,300 SF

Gross rent

$180.6K $42.00/SF

− Vacancy

−$21.7K −$5.04/SF

EGI

$158.9K $36.96/SF

− OpEx

−$55.6K −$12.94/SF

NOI

$103.3K $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 Rate 5%

$2,066,060

Cap Rate 7%

$1,475,757

Cap Rate 9%

$1,147,811

Alternative Uses

Best Use

Flex RnD

$1.48M

$1.29M – $1.72M (±1% cap)

NOI $103,303 @ 7.0% cap · market cap 4.34%

Second Best

Industrial

$1.09M

$956.2K – $1.27M (±1% cap)

NOI $76,498 @ 7.0% cap · market cap 3.21%

Theoretical Best

Specialty Retail

$3.56M

$3.12M – $4.15M (±1% cap)

NOI $249,228 @ 7.0% cap · market cap 10.47%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Law Firm Parking Lot & Garage Hotel & Motel Cosmetic Store Bar & Pub

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - New commercial building in Brooklyn with loading dock and private driveway.

Where is this flex space located?

The property is located at 2322 W 7th St 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: 25‑year tax abatement; Brand new construction (2024); Large space: approx. 4,300 sq ft with potential for 8,600 sq ft with 2nd floor