Vacant Industrial Building with
391 Rockaway Ave Brooklyn, NY 11212
391 Rockaway Ave, Brooklyn, NY, 11212
Contact for pricing
For Sale
Contact for pricing
Vacant industrial building in shell condition with high ceilings, open layout, and an existing mezzanine.
Property Size3,081 SF
Price / SF$649.14
Days on Market161
Property Features for 391 Rockaway Ave
General Information
- Standard status
- Active
- Size
- 3,081 SF
- Property subtype
- Industrial, Retail, Self Storage, Special Purpose
Building Details
- Year Built
- 2008
Listing agency
REMAX EDGE
(718) 612-3088
Listed by
Anna Soboleva · License #10401366828
Source
Crexi
Added: Feb 11 Updated: Jul 21 at 5:18AM Checked: Jul 21 at 5:18AM
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 REMAX EDGE
Investment Insights
Based on property information with market context.
Vacant commercial/industrial building offered in shell condition, totaling 3,081 square feet and including an existing mezzanine. The space features high ceilings and an open industrial layout designed to support a range of light industrial and creative build-out concepts, subject to applicable approvals. The property is also positioned as a development site with approximately 8,000 square feet of buildable potential.
The property is located on Rockaway Avenue in Brooklyn, in a corridor described as experiencing ongoing residential growth and reinvestment. Interested parties should confirm zoning and redevelopment parameters with the appropriate local authorities.
As presented, this asset offers a straightforward option for an owner-user looking to complete an industrial shell, or for an investor/developer evaluating potential expansion or repositioning based on the stated buildable rights and existing improvements.
The property is located on Rockaway Avenue in Brooklyn, in a corridor described as experiencing ongoing residential growth and reinvestment. Interested parties should confirm zoning and redevelopment parameters with the appropriate local authorities.
As presented, this asset offers a straightforward option for an owner-user looking to complete an industrial shell, or for an investor/developer evaluating potential expansion or repositioning based on the stated buildable rights and existing improvements.
Key Highlights
- Vacant 3,081 SF commercial building (including mezzanine) in shell condition
- 8,000 buildable SF development potential
- High ceilings with an open industrial‑style layout
Local Financial Insights For Warehouse
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 | $82.1k | $26.64 |
| − Vacancy | −$3.8k | −$1.23 |
| EGI | $78.3k | $25.41 |
| − OpEx | −$11.7k | −$3.81 |
| NOI | $66.6k | $21.60 |
3,081 SF · lease $26.64/SF/yr · vacancy 4.60% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$950.8K
$832.0K – $1.11M
NOI $66,557 @ 7.0% cap · market cap 3.33%
Second Best
Industrial
$783.0K
$685.2K – $913.5K
NOI $54,812 @ 7.0% cap · market cap 2.74%
Theoretical Best
Specialty Retail
$2.55M
$2.23M – $2.98M
NOI $178,575 @ 7.0% cap · market cap 8.93%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Manufacturing properties
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FAQs
What type of property is this?
Warehouse - Vacant industrial building in shell condition with high ceilings, open layout, and an existing mezzanine.
Where is this warehouse located?
The property is located at 391 Rockaway Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Vacant 3,081 SF commercial building (including mezzanine) in shell condition; 8,000 buildable SF development potential; High ceilings with an open industrial‑style layout
