Brooklyn Warehouse with Multifamily
2812 Harway Avenue Brooklyn, NY 11214
2812 Harway Avenue, Brooklyn, NY, 11214
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For Sale
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Warehouse with R5 zoning, potential for multifamily conversion.
Property Size1,311 SF
Lot Size0.03 Acres
Price / SF$631.58
Days on Market827
Property Features for 2812 Harway Avenue
General Information
- Standard status
- Active
- Size
- 1,311 SF
- Lot size
- 0.03 Acres
- Property subtype
- Industrial, Retail, Office
Listing agency
Century 21 Service Realty
Listed by
Karen Ng Mok · License #NY
Source
Crexi
Added: Apr 17, 2024 Updated: Jul 6 at 8:23AM Checked: Jul 19 at 9:15AM
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 Century 21 Service Realty
Investment Insights
Based on property information with market context.
This property presents an investment opportunity in a convenient location, situated minutes from the Bay 50th Street train station. The lot measures 19x74 feet, totaling approximately 1,443 square feet. Zoned R5, the warehouse offers the potential for conversion into a multifamily building. Currently utilized as a storage facility, the storefront is reported to be in good condition. The property includes access to a small backyard and a separate entrance to a full basement from the street. The property size is 1,311 square feet.
Key Highlights
- R5 Zoning: Unlock the potential to convert this property into a multi‑family building.
- Excellent Location: Just minutes away from the Bay 50th Street train station.
- Investment Opportunity: A property suitable for a range of investment strategies.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $60.6k | $46.20 |
| − Vacancy | −$2.3k | −$1.76 |
| EGI | $58.3k | $44.44 |
| − OpEx | −$26.2k | −$20.00 |
| NOI | $32.0k | $24.44 |
1,311 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$457.8K
$400.6K – $534.1K
NOI $32,047 @ 7.0% cap · market cap 3.87%
Second Best
Warehouse
$400.1K
$350.1K – $466.8K
NOI $28,007 @ 7.0% cap · market cap 3.38%
Theoretical Best
Office A
$764.8K
$669.2K – $892.2K
NOI $53,534 @ 7.0% cap · market cap 6.47%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
S Bartolotta Wood ...
Home Decor Store
Similar For Sale Nearby
Similar Off Market Nearby
- Storage cubesmart — 3024 cropsey ave, brooklyn, ny 11214
- Brooklyn Local Movers — 2814 W 8th St #8b, Brooklyn, NY 11224
- CubeSmart Self Storage — 2964 Shell Rd, Brooklyn, NY 11224
- CubeSmart Self Storage of Brooklyn — 3068 Cropsey Ave, Brooklyn, NY 11224
- CubeSmart Self Storage — 2990 Cropsey Ave, Brooklyn, NY 11214
FAQs
What type of property is this?
Warehouse - Warehouse with R5 zoning, potential for multifamily conversion.
Where is this warehouse located?
The property is located at 2812 Harway Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $828,000.
What are key features of this property?
This property features: R5 Zoning: Unlock the potential to convert this property into a multi‑family building.; Excellent Location: Just minutes away from the Bay 50th Street train station.; Investment Opportunity: A property suitable for a range of investment strategies.
