Historic Boutique Office
New
For Sale
$3,400,000
25 8TH Avenue COMMERCIAL, Brooklyn, NY 11217
Lower-level office condominium with private offices, shared conference rooms, kitchen, and lounge amenities.
Property Size4,000 SF
Price / SF$850
Days on Market7
Property Features for 25 8TH Avenue COMMERCIAL
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Apartment
Occupancy
100%
Additional Details
Floor
Lower Level
Public Transit
Yes
Office Units
14
Amenities
private offices
shared conference rooms
fully equipped kitchen
tenant lounge
original hardwood floors
oak millwork
stained-glass accents
operable windows
Building Details
Building Size
4,000 SF
Year Built
1889
Construction
Venetian Gothic
Tenancy
Multi
Listing Agency:
Douglas Elliman Real Estate
(917) 482-4812
Listed By:
Terry S Robison · License #40RO1000713
(917) 482-4812
Source:
Carlinwright
Added: Aug 5
Changed: Aug 9
Last Checked: Aug 10 at 9:47AM
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 Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
This lower-level office condominium within a landmarked building provides approximately 4,000 square feet of commercial workspace. The current layout includes fourteen private offices, two shared conference rooms, a kitchen, and a tenant lounge. Original hardwood flooring, oak millwork, stained-glass details, and operable windows add architectural character to the office environment. The building dates to 1889 and is currently configured as a fully occupied executive office suite with flexible lease arrangements.
The property is adjacent to Grand Army Plaza and Prospect Park in Brooklyn. Access to the 2, 3, B, and Q subway lines, along with several major bus routes, supports connectivity to the surrounding area. Restaurants, cafés, retail, and cultural institutions are located nearby in Park Slope.
The property is adjacent to Grand Army Plaza and Prospect Park in Brooklyn. Access to the 2, 3, B, and Q subway lines, along with several major bus routes, supports connectivity to the surrounding area. Restaurants, cafés, retail, and cultural institutions are located nearby in Park Slope.
Key Highlights
- Approximately 4,000 square feet of lower‑level office space
- 14 private offices and 2 shared conference rooms
- Kitchen and tenant lounge included in the current layout
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
$99,792
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
2.94%
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%
$1,995,840
$2.0M
Cap Rate 7%
$1,425,600
$1.4M
Cap Rate 9%
$1,108,800
$1.1M
Market Conditions
NOI Build-Up for 4,000 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
$172.8K $43.20/SF
− Vacancy
−$39.7K −$9.94/SF
EGI
$133.1K $33.26/SF
− OpEx
−$33.3K −$8.32/SF
NOI
$99.8K $24.95/SF
Area
Brooklyn, NY
Vacancy
23.00%
Lease Rate
$43.20 /SF/Yr
Expense Ratio
25.00%
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%
$1,995,840
Cap Rate 7%
$1,425,600
Cap Rate 9%
$1,108,800
Alternative Uses
Best Use
Office B
$1.43M
$1.25M – $1.66M
NOI $99,792 @ 7.0% cap · market cap 2.94%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.31M
$2.90M – $3.86M
NOI $231,840 @ 7.0% cap · market cap 6.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
14
Office units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
7,488
Businesses Nearby
Explore this area
Business Placement
Demographics for 11217, NY
42,417
Population
21,590
Households
2
Avg Household Size
36
Median Age
73%
College-Educated
93%
High-School Grad
0.7 sq mi
ZIP Area
60,596
Density / Sq Mi
$158,314
Median Household Income
$95,067
Median Earnings
$2,800
Median Rent
$1,614,200
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Lower-level office condominium with private offices, shared conference rooms, kitchen, and lounge amenities.
Where is this office units located?
The property is located at 25 8TH Avenue COMMERCIAL Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,400,000.
What are key features of this property?
This property features: Approximately 4,000 square feet of lower‑level office space; 14 private offices and 2 shared conference rooms; Kitchen and tenant lounge included in the current layout
