Renovated Commercial Building in
405 Gates Avenue, Brooklyn, NY 11216
Commercial Building - Brooklyn, NY
Property size:
11,250 SFPrice / SF:
$644/SF- Added:
- Feb 27, 2025
- Days on Market:
- 477
- Last Refresh:
- Jun 19 at 12:06 pm
Property Features for 405 Gates Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Property condition
- New Construction
- Zoning
- 200
- Rooms
- Basement, Kitchen
- Parking features
- Garage
- Basement Y/N
- 1
- Standard status
- Active
- Size
- 11,250 SF
Taxes and HOA fees
- Tax Annual Amount
- 82281
Building Details
- Year built
- 1931
- Year renovated
- 1931
- Floors in Building
- 3
- Building materials
- Brick
- Architectural style
- Other
Listing agent Robert Shiryak
Listing office CAPLINE CONSOLIDATED LLC 1 Dock 72 Wy #08-122, Brooklyn, NY
Listing date Feb 27, 2025
MLS# 11440801
Listing URL
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Meticulously renovated historic building with modern amenities, including a new elevator and HVAC system.
- Approximately 11,250 square feet of versatile commercial space across three floors plus a basement.
- Located in the rapidly developing Bedford‑Stuyvesant/Clinton Hill neighborhood.
- Suitable for a wide range of commercial applications (medical, retail, education, etc.).
- Approximately 130 feet of wrap‑around frontage.
- ADA compliant with multiple restrooms on each floor and two stairwells.
Overview
This meticulously renovated historic building is located in the rapidly developing Bedford-Stuyvesant/Clinton Hill neighborhood. The property offers approximately 11,250 square feet of versatile space across three floors, plus a substantial basement. It is ideally positioned for a variety of commercial ventures and is particularly well-suited for an owner-user seeking a prominent presence in a thriving community. The building is suitable for a wide range of commercial applications, including medical offices, urgent care facilities, daycare/senior care centers, fitness centers, spas, restaurants, retail establishments, and educational facilities. The building seamlessly blends original architectural details with contemporary upgrades, including 28-foot vaulted ceilings, oversized windows, and high-quality ceramic tile. It is ADA compliant, featuring a brand-new passenger elevator, multiple restrooms on each floor, and two stairwells. The property is equipped with a new electric AC/Heating system, separate gas and electric meters for each space, supplementary gas space heaters on each floor, and provisions for ventilation. State-of-the-art security gates are in place. The property has approximately 130 feet of wrap-around frontage. Expansion is possible via a bundle deal with the adjacent development site at 403 Gates Avenue, Brooklyn, NY 11216 (1,875 SF with 5,625 BSF), available separately. The property is in proximity to the Bedford-Nostrand Avenue subway station, Brooklyn Botanic Garden, Brooklyn Children's Museum, and numerous other amenities including parks, educational institutions, and fitness centers.
Local Financial Insights For Retail
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 | $874.8k | $77.76 |
| − Vacancy | −$104.1k | −$9.25 |
| EGI | $770.7k | $68.51 |
| − OpEx | −$231.2k | −$20.55 |
| NOI | $539.5k | $47.95 |
11,250 SF · lease $77.76/SF/yr · vacancy 11.90% · expense 30.00%
Alternative Uses
Best Use
Retail
$7.71M
$6.74M – $8.99M
NOI $539,489 @ 7.0% cap · market cap 7.44%
Second Best
Office B
$4.01M
$3.51M – $4.68M
NOI $280,665 @ 7.0% cap · market cap 3.87%
Theoretical Best
Specialty Retail
$9.32M
$8.15M – $10.87M
NOI $652,050 @ 7.0% cap · market cap 8.99%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Noor Brother Deli ...
Food Market
Similar Places Nearby
- Bond Vet - Bed-Stuy — 1134 Fulton St, Brooklyn, NY 11216
- Bedford Stuyvesant Veterinary Clinic — 1403 Fulton St, Brooklyn, NY 11216
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.95097
- Latitude
- 40.686399
Nearby Similar for Sale
FAQs
What type of property is this?
Medical Office Space - Versatile 11,250 SF commercial space in Bedford-Stuyvesant/Clinton Hill.
Where is this medical office space located?
The property is located at 405 Gates Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $7,250,000.
What are key features of this property?
This property features: Meticulously renovated historic building with modern amenities, including a new elevator and HVAC system.; Approximately 11,250 square feet of versatile commercial space across three floors plus a basement.; Located in the rapidly developing Bedford‑Stuyvesant/Clinton Hill neighborhood.
