Office Space with
2890 Nostrand Avenue, Brooklyn, NY 11229
For Sale
Contact for pricing
The premises offer a two-level layout, with office area on the ground floor and additional space below.
Property Size2,560 SF
Price / SF$1.56
Days on Market43
Property Features for 2890 Nostrand Avenue
General Information
Standard status
Size
Property subtype
Additional Details
Public Transit
Currently Operating
Property Use
Building Details
Year Built
Listing Agency:
Pullini Realty Corp
Listed By:
Lisa Pullini · License #10311200451
(718) 621-1446
Source:
Neilcharlesrealestate
Added: Sep 28
Changed: Nov 8
Last Checked: Nov 8 at 4:04PM
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 Pullini Realty Corp
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Investment Insights
Based on property information with market context.
This office property provides 1,280 square feet on the first floor and a separate 1,280-square-foot basement, for 2,560 square feet in total. The space is currently used as a school and was built in 1931.
Bus service includes the B44/B44-SBS, B82/B82-SBS, B7, B100 and BM4. The Q train at Avenue M station can be reached by taking the B7 or B82/B82-SBS for two stops. James Madison High School is six blocks away.
Bus service includes the B44/B44-SBS, B82/B82-SBS, B7, B100 and BM4. The Q train at Avenue M station can be reached by taking the B7 or B82/B82-SBS for two stops. James Madison High School is six blocks away.
Key Highlights
- 2,560 square feet total: 1,280 square feet on the first floor and 1,280 square feet in the basement
- Currently used as a school
- Bus service includes the B44/B44‑SBS, B82/B82‑SBS, B7, B100 and BM4
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,867
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,277,340
$1.3M
Cap Rate 7%
$912,386
$912.4K
Cap Rate 9%
$709,633
$709.6K
Market Conditions
NOI Build-Up for 2,560 SF
Gross rent
$110.6K $43.20/SF
− Vacancy
−$25.4K −$9.94/SF
EGI
$85.2K $33.26/SF
− OpEx
−$21.3K −$8.32/SF
NOI
$63.9K $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 Rate 5%
$1,277,340
Cap Rate 7%
$912,386
Cap Rate 9%
$709,633
Alternative Uses
Best Use
Office B
$912.4K
$798.3K – $1.06M
NOI $63,867 @ 7.0% cap · market cap 1,596.68%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.12M
$1.85M – $2.47M
NOI $148,378 @ 7.0% cap · market cap 3,709.45%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
3,091
Businesses Nearby
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Business Placement
Demographics for 11229, NY
83,669
Population
33,353
Households
2.5
Avg Household Size
40
Median Age
41%
College-Educated
88%
High-School Grad
2.0 sq mi
ZIP Area
41,835
Density / Sq Mi
$72,556
Median Household Income
$52,948
Median Earnings
$1,666
Median Rent
$812,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Office Units in Brooklyn, NY
Properties on Market for Office Units in Brooklyn
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - The premises offer a two-level layout, with office area on the ground floor and additional space below.
Where is this office unit located?
The property is located at 2890 Nostrand Avenue Brooklyn, NY.
What are key features of this property?
This property features: 2,560 square feet total: 1,280 square feet on the first floor and 1,280 square feet in the basement; Currently used as a school; Bus service includes the B44/B44‑SBS, B82/B82‑SBS, B7, B100 and BM4
