Brooklyn Community Facility Condo For
For Sale
Contact for pricing
401 Rutland Road, Brooklyn, NY 11203
1,779 SF community facility condo in Prospect Lefferts Gardens.
Property Size1,779 SF
Price / SF$446.88
Days on Market1601
Property Features for 401 Rutland Road
General Information
Standard status
Active
Size
1,779 SF
Total Parking Spaces
2
Property subtype
Office, Special Purpose
Building Details
Stories
6
Units
2
Listing Agency:
Premiere Property Group, LLC
Listed By:
Shawn Sadaghati · License #NY
(917) 796-7475
Source:
Crexi
Added: Jun 10, 2022
Changed: Oct 26
Last Checked: Oct 26 at 1:16PM
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 Premiere Property Group, LLC
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Investment Insights
Based on property information with market context.
A 1,779 square-foot community facility condominium unit is available for purchase at 401 Rutland Road in Prospect Lefferts Gardens, Brooklyn. The unit includes two indoor parking spaces and is composed of 705 square feet on the ground floor and 1,074 square feet on the lower level. The unit is directly metered. The space is located at the base of a newly constructed six-story luxury condominium building. The corner property is situated at the intersection of Rutland Road and New York Avenue, providing exposure on both streets. It is located within a few blocks of the Kings County Hospital Center, Kingsbrook Jewish Medical Center, and the NYC Health + Hospitals/McKinney Nursing Home. The commercial unit is situated one block from Nostrand Avenue, a commercial strip with restaurants and stores and access to the 2-5 subway lines. Additionally, the asset is in proximity to Prospect Park and Wingate Park.
Key Highlights
- Located in a high‑visibility corner location at the intersection of Rutland Road and New York Avenue.
- Features two indoor parking spaces.
- Situated at the base of a newly constructed luxury condominium building.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,382
Cap Rate
5.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$887,640
$887.6K
Cap Rate 7%
$634,029
$634.0K
Cap Rate 9%
$493,133
$493.1K
Market Conditions
NOI Build-Up for 1,779 SF
Gross rent
$76.9K $43.20/SF
− Vacancy
−$17.7K −$9.94/SF
EGI
$59.2K $33.26/SF
− OpEx
−$14.8K −$8.32/SF
NOI
$44.4K $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 Rate 5%
$887,640
Cap Rate 7%
$634,029
Cap Rate 9%
$493,133
Alternative Uses
Best Use
Retail
$1.22M
$1.07M – $1.42M
NOI $85,311 @ 7.0% cap · market cap 10.73%
Second Best
Office B
$634.0K
$554.8K – $739.7K
NOI $44,382 @ 7.0% cap · market cap 5.58%
Theoretical Best
Specialty Retail
$1.47M
$1.29M – $1.72M
NOI $103,111 @ 7.0% cap · market cap 12.97%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
6,204
Businesses Nearby
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Business Placement
Demographics for 11203, NY
81,824
Population
33,434
Households
2.4
Avg Household Size
41
Median Age
26%
College-Educated
88%
High-School Grad
2.1 sq mi
ZIP Area
38,964
Density / Sq Mi
$68,028
Median Household Income
$47,302
Median Earnings
$1,566
Median Rent
$677,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Retail space - 1,779 SF community facility condo in Prospect Lefferts Gardens.
Where is this retail space located?
The property is located at 401 Rutland Road Brooklyn, NY.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Located in a high‑visibility corner location at the intersection of Rutland Road and New York Avenue.; Features two indoor parking spaces.; Situated at the base of a newly constructed luxury condominium building.
