Office Building with Passenger
For Sale
$4,100,000
3041 Avenue U, Brooklyn, NY 11234
COMMERCIAL - Brooklyn, NY
Property Size12,000 SF
Lot Size0.10 Acres
Price / SF$341.67
Days on Market233
Property Features for 3041 Avenue U
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
R4, C1-2
Subdivision
Marine Park
Standard status
Active
Size
12,000 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Annual Amount
71000
Building Details
Year built
1925
Floors in Building
3
Number of units
1
Flooring type
Laminate, Hardwood
Building materials
Brick
Listing Agency:
United National Realty
(718) 979-8000
Listed By:
Michael Dukhovny
(718) 979-8000
Added: Dec 16, 2025
Changed: Aug 4
Last Checked: Aug 6 at 6:06PM
MLS# 497893
Copyright © 2026 Brooklyn New York Multiple Listing Service. 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.
3041 Avenue U in Brooklyn is a multi-tenant office building with medical/professional functionality and a passenger elevator. The property is described as a four-floor building with approximately 12,000 SF total (4 floors with ~3,000 SF each), constructed with brick and finished with laminate and hardwood flooring.
The site sits on a 4,226 SF lot (about 0.097 acres) and is zoned R4 and C1-2. Current tenancy is described as 75% leased, with the third floor identified as vacant at approximately ~3,000 SF. The offering is also presented with a cap rate of 4.90%, projected to 6.9% once leased 100%.
With its fully equipped medical/professional setup and elevator service, this property can support a range of office and medical-related tenant needs.
The site sits on a 4,226 SF lot (about 0.097 acres) and is zoned R4 and C1-2. Current tenancy is described as 75% leased, with the third floor identified as vacant at approximately ~3,000 SF. The offering is also presented with a cap rate of 4.90%, projected to 6.9% once leased 100%.
With its fully equipped medical/professional setup and elevator service, this property can support a range of office and medical-related tenant needs.
Key Highlights
- ~12,000 SF office building described as four floors with ~3,000 SF each
- Passenger elevator serving the building
- Brick construction with laminate and hardwood flooring
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
$299,376
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
7.30%
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%
$5,987,520
$6.0M
Cap Rate 7%
$4,276,800
$4.3M
Cap Rate 9%
$3,326,400
$3.3M
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
$518.4K $43.20/SF
− Vacancy
−$119.2K −$9.94/SF
EGI
$399.2K $33.26/SF
− OpEx
−$99.8K −$8.32/SF
NOI
$299.4K $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%
$5,987,520
Cap Rate 7%
$4,276,800
Cap Rate 9%
$3,326,400
Alternative Uses
Best Use
Office B
$4.28M
$3.74M – $4.99M
NOI $299,376 @ 7.0% cap · market cap 7.30%
Second Best
Healthcare Medical
$3.97M
$3.48M – $4.64M
NOI $278,208 @ 7.0% cap · market cap 6.79%
Theoretical Best
Specialty Retail
$9.94M
$8.69M – $11.59M
NOI $695,520 @ 7.0% cap · market cap 16.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
75%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,998
Businesses Nearby
Explore this area
Business Placement
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 Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Multi-tenant office building with passenger elevator and medical/professional space, zoned R4 and C1-2.
Where is this office building located?
The property is located at 3041 Avenue U Brooklyn, NY.
What is the asking price?
The asking price for this property is $4,100,000.
What are key features of this property?
This property features: ~12,000 SF office building described as four floors with ~3,000 SF each; Passenger elevator serving the building; Brick construction with laminate and hardwood flooring
