Occupied Retail Strip
New
For Sale
$8,500,000
2413-2459 Flatbush Avenue, Brooklyn, NY 11234
Commercial Sale, Brooklyn, NY
Property Size12,000 SF
Lot Size0.28 Acres
Price / SF$708.33
Days on Market2
Property Features for 2413-2459 Flatbush Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Mill Basin
Standard status
Active
Size
12,000 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Annual Amount
162000
Building Details
Floors in Building
1
Listing Agency:
CAPLINE CONSOLIDATED LLC
Listed By:
Robert Shiryak · License #NY10491213394
(347) 908-7623
Added: Sep 15
Last Checked: Sep 16 at 1:06PM
MLS# 11982005
Copyright © 2026 My State 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.
This retail strip center includes approximately 12,000 square feet of commercial space at 2413-2459 Flatbush Avenue. The property is positioned for retail use and currently operates with near full occupancy, supported by an established tenant roster. The reported capitalization rate is 6.32%.
The property occupies a prominent position along Flatbush Avenue in Brooklyn, serving the surrounding communities of Mill Basin, Marine Park, Bergen Beach, and Flatlands. Its setting combines exposure to vehicular and pedestrian activity with access to established residential neighborhoods. The address is in ZIP Code 11234, within Kings County.
The property occupies a prominent position along Flatbush Avenue in Brooklyn, serving the surrounding communities of Mill Basin, Marine Park, Bergen Beach, and Flatlands. Its setting combines exposure to vehicular and pedestrian activity with access to established residential neighborhoods. The address is in ZIP Code 11234, within Kings County.
Key Highlights
- Approximately 12,000 square feet of retail space
- 6.32% cap rate
- Near full occupancy
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
6.77%
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 6.77%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$9.94M
$8.69M – $11.59M
NOI $695,520 @ 7.0% cap · market cap 8.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,945
Businesses Nearby
294k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 43%
Shops & Services 33%
Dining 15%
Electronics 7%
Lowe's
Home Improvements & Furnishings
71,781 visits/mo
0.3 miles
McDonald's
Dining
44,677 visits/mo
0.4 miles
The Home Depot
Home Improvements & Furnishings
38,000 visits/mo
0.5 miles
Speedway
Shops & Services
24,099 visits/mo
0.1 miles
P.C. Richard & Son
Electronics
20,284 visits/mo
0.3 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Strip mall - Retail strip center with approximately full occupancy along Flatbush Avenue in Brooklyn.
Where is this strip mall located?
The property is located at 2413-2459 Flatbush Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $8,500,000.
What are key features of this property?
This property features: Approximately 12,000 square feet of retail space; 6.32% cap rate; Near full occupancy
