Retail Building for
For Sale
Contact for pricing
2413-2459 Flatbush Avenue, Brooklyn, NY 11234
For sale retail building totaling about 12,000 SF on a 12,250-square-foot lot with near-stabilized occupancy.
Property Size12,000 SF
Lot Size0.28 Acres
Price / SF$833.33
Days on Market133
Property Features for 2413-2459 Flatbush Avenue
General Information
Standard status
Active
Size
12,000 SF
Total Parking Spaces
3
Lot size
0.28 Acres
Property subtype
Retail
Net Operating Income
$650,000
Additional Details
Cap Rate
6.5%
Building Details
Tenancy
Multi
Listing Agency:
Capline Consolidated
(347) 908-7623
Listed By:
Robert Shiryak · License #NY10491213394
Source:
Crexi
Added: Apr 23
Changed: Aug 27
Last Checked: Sep 2 at 2:11AM
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 Capline Consolidated
Investment Insights
Based on property information with market context.
This for-sale retail building totals approximately 12,000 square feet of retail space on a 12,250-square-foot lot. The offering is positioned as a near-stabilized asset, with the remarks indicating a strategic lease-up opportunity.
The property is located at 2413-2459 Flatbush Avenue in Brooklyn, New York. The listing information provided includes an asking price of $10,000,000, with Net Operating Income (NOI) of $650,000 and a stated cap rate of 6.5%.
The provided transaction details frame the asset as a packaged retail opportunity for institutional investors and private operators, supported by the stated building and lot totals and the near-stabilized occupancy status.
The property is located at 2413-2459 Flatbush Avenue in Brooklyn, New York. The listing information provided includes an asking price of $10,000,000, with Net Operating Income (NOI) of $650,000 and a stated cap rate of 6.5%.
The provided transaction details frame the asset as a packaged retail opportunity for institutional investors and private operators, supported by the stated building and lot totals and the near-stabilized occupancy status.
Key Highlights
- ~12,000 SF retail building for sale on a ~12,250 SF lot
- Near‑stabilized occupancy, offering a strategic lease‑up opportunity
- Asking price: $10,000,000; NOI: $650,000
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
$575,455
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
5.75%
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%
$11,509,100
$11.5M
Cap Rate 7%
$8,220,786
$8.2M
Cap Rate 9%
$6,393,944
$6.4M
Market Conditions
NOI Build-Up for 12,000 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
$933.1K $77.76/SF
− Vacancy
−$111.0K −$9.25/SF
EGI
$822.1K $68.51/SF
− OpEx
−$246.6K −$20.55/SF
NOI
$575.5K $47.95/SF
Area
Brooklyn, NY
Vacancy
11.90%
Lease Rate
$77.76 /SF/Yr
Expense Ratio
30.00%
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%
$11,509,100
Cap Rate 7%
$8,220,786
Cap Rate 9%
$6,393,944
Alternative Uses
Best Use
Retail
$8.22M
$7.19M – $9.59M
NOI $575,455 @ 7.0% cap · market cap 5.75%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$9.94M
$8.69M – $11.59M
NOI $695,520 @ 7.0% cap · market cap 6.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
11,936
Businesses Nearby
138k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 40%
Apparel 27%
Shops & Services 17%
Electronics 6%
New York Marriott at the Brooklyn Bridge
Hotels & Casinos
48,622 visits/mo
0.5 miles
Goodwill
Apparel
18,116 visits/mo
0.3 miles
Mobil
Shops & Services
10,567 visits/mo
0.3 miles
The UPS Store
Shops & Services
9,497 visits/mo
0.4 miles
Bravo Supermarkets
Groceries
7,424 visits/mo
0.4 miles
Demographics for 11234, NY
92,133
Population
35,167
Households
2.6
Avg Household Size
41
Median Age
39%
College-Educated
89%
High-School Grad
7.4 sq mi
ZIP Area
12,450
Density / Sq Mi
$94,434
Median Household Income
$55,206
Median Earnings
$1,771
Median Rent
$746,800
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.
Frequently Asked Questions
What type of property is this?
Retail space - For sale retail building totaling about 12,000 SF on a 12,250-square-foot lot with near-stabilized occupancy.
Where is this retail space located?
The property is located at 2413-2459 Flatbush Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $10,000,000.
What are key features of this property?
This property features: ~12,000 SF retail building for sale on a ~12,250 SF lot; Near‑stabilized occupancy, offering a strategic lease‑up opportunity; Asking price: $10,000,000; NOI: $650,000
