Brooklyn Retail Property For
383-391 Ave X, Brooklyn, NY
Call to check price and availability
Retail property in a densely populated Brooklyn neighborhood.
Type:RETAIL
Property size:
4,800 SFLot size:
0.16 AcresPrice / SF:
$645/SF- Added:
- Dec 6, 2024
- Days on Market:
- 535
- Last Refresh:
- Apr 5 at 10:58 pm
Property Features for 383-391 Ave X
General Information
- Standard status
- Active
- Size
- 4,800 SF
- Lot size
- 0.16 Acres
- Property subtype
- RETAIL
Listing agent John Wilmarth License #31WI0559278
Listing office Metro Commercial & Business Brokers, Inc. (516) 640-5440
Listing date Dec 6, 2024
Source Moodyscre
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 Metro Commercial & Business Brokers, Inc.
HighLights
- Prime location on Avenue X, a main shopping street with banks, supermarkets, restaurants, and shops.
- Convenient public transportation: Bus stop (B1 Line) directly in front of the premises.
- Subway access (F line) within five blocks.
- Located in the Gravesend neighborhood of Brooklyn.
- Situated in a densely populated area.
- Located in a middle income neighborhood.
Overview
Located in the Gravesend neighborhood of Brooklyn, New York, this retail property is situated on Avenue X, a main shopping street. The surrounding area is densely populated with a middle-income demographic. Avenue X features a variety of businesses, including banks, supermarkets, a post office, restaurants, shops, and boutiques. Public transportation options include the F subway line at McDonald Ave Shell Rd, 86th Street and Ave X, five blocks west of the property, and the B1 bus line, with a stop located directly in front of the premises. The property has a size of 4,800 square feet.
Financial Insights
Value Estimation Calculated for Retail
Conservative
$2.56M
NOI $230,182 @ 9.00% cap · cautious / downside scenario
Moderate
$3.29M
NOI $230,182 @ 7.00% cap · market / base-case scenario
Aggressive
$4.60M
NOI $230,182 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Retail
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $373.2k | $77.76 |
| − Vacancy | −$44.4k | −$9.25 |
| EGI | $328.8k | $68.51 |
| − OpEx | −$98.6k | −$20.55 |
| NOI | $230.2k | $47.95 |
4,800 SF · lease $77.76/SF/yr · vacancy 11.90% · expense 30.00%
Alternative Use Scenarios
Best Use
Retail
$3.29M
$2.88M – $3.84M
NOI $230,182 @ 7.0% cap · market cap 7.43%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.97M
$3.48M – $4.64M
NOI $278,208 @ 7.0% cap · market cap 8.97%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Storefront properties
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Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.9691
- Latitude
- 40.5909
Nearby Similar for Sale
FAQs
What type of property is this?
Storefront property - Retail property in a densely populated Brooklyn neighborhood.
Where is this storefront property located?
The property is located at 383-391 Ave X Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,100,000.
What are key features of this property?
This property features: Prime location on Avenue X, a main shopping street with banks, supermarkets, restaurants, and shops.; Convenient public transportation: Bus stop (B1 Line) directly in front of the premises.; Subway access (F line) within five blocks.
