Storefront Condominium with
315 FLATBUSH Avenue 2, Brooklyn, NY 11217
For Sale
$1,650,000
An established UPS franchise occupies the retail condominium and has expressed interest in continuing its tenancy.
Property Size1,774 SF
Price / SF$930.10
Days on Market133
Property Features for 315 FLATBUSH Avenue 2
General Information
Standard status
Size
Property subtype
Tenancy & Operations
Currently Operating
Tenant in Place
Additional Details
Floor
Building Details
Year Built
Tenancy
Listing Agency:
Corcoran Group
Listed By:
Dan P Brady · License #40BR1159152 (NY)
(917) 202-5609
Source:
Poljanproperties
Added: Jun 29
Changed: Nov 7
Last Checked: Nov 7 at 5:12PM
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 Corcoran Group
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,774-square-foot storefront condominium includes more than 1,000 square feet at street level and over 700 square feet of basement storage. The building dates to 1889, and a UPS franchise has occupied the space for two decades.
The tenant has indicated a desire to remain for at least five more years. Its lease includes an option for an additional five-year term, with terms for that option not specified in the available information.
The tenant has indicated a desire to remain for at least five more years. Its lease includes an option for an additional five-year term, with terms for that option not specified in the available information.
Key Highlights
- 1,774‑square‑foot commercial condominium
- More than 1,000 square feet on the ground floor
- Over 700 square feet of basement storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$85,071
Cap Rate
5.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,701,420
$1.7M
Cap Rate 7%
$1,215,300
$1.2M
Cap Rate 9%
$945,233
$945.2K
Market Conditions
NOI Build-Up for 1,774 SF
Gross rent
$137.9K $77.76/SF
− Vacancy
−$16.4K −$9.25/SF
EGI
$121.5K $68.51/SF
− OpEx
−$36.5K −$20.55/SF
NOI
$85.1K $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 Rate 5%
$1,701,420
Cap Rate 7%
$1,215,300
Cap Rate 9%
$945,233
Alternative Uses
Best Use
Retail
$1.22M
$1.06M – $1.42M
NOI $85,071 @ 7.0% cap · market cap 5.16%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.47M
$1.29M – $1.71M
NOI $102,821 @ 7.0% cap · market cap 6.23%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
14,120
Businesses Nearby
233k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 26%
Hotels & Casinos 24%
Shops & Services 21%
Apparel 21%
New York Marriott at the Brooklyn Bridge
Hotels & Casinos
48,622 visits/mo
0.4 miles
PetSmart
Shops & Services
18,203 visits/mo
0.5 miles
Goodwill
Apparel
18,116 visits/mo
0.1 miles
McDonald's
Dining
17,028 visits/mo
0.5 miles
Paris Baguette
Dining
13,224 visits/mo
0.4 miles
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
$1,614,200
Median Home Value
Market
Average Price Trend$/SF for Storefront properties in Brooklyn, NY
Properties on Market for Storefront properties in Brooklyn
Vacancy Rate% for Retail in Northeast region
Similar Off Market Nearby
- Gardenia — 99 4th Ave, Brooklyn, NY 11217
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- ALPINAE FLORAL — 103 Bergen St, Brooklyn, NY 11201
- The Fleurista — 88 Bergen St, Brooklyn, NY 11201
Frequently Asked Questions
What type of property is this?
Storefront property - An established UPS franchise occupies the retail condominium and has expressed interest in continuing its tenancy.
Where is this storefront property located?
The property is located at 315 FLATBUSH Avenue 2 Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: 1,774‑square‑foot commercial condominium; More than 1,000 square feet on the ground floor; Over 700 square feet of basement storage
