408 Lefferts Ave, Brooklyn, NY 11225

Listing Agency: The Corcoran Group | Brooklyn Heights Show Phone

Listed By: Salomon Danielov · License #10401221164 Show Phone

Source: Moodyscre

Added: Jul 30 Changed: Oct 26 Last Checked: Nov 8 at 7:55AM

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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 The Corcoran Group | Brooklyn Heights

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Investment Insights

Based on property information with market context.

This brand-new office unit provides 3,000 square feet of ground-floor commercial space at 408 Lefferts Ave in Brooklyn. Delivered in vanilla-box condition, the premises allows the occupant to plan a custom interior build-out around its operational requirements. The space is identified as suitable for medical office, daycare, school, and other community-based uses.

Prominent street frontage adds direct exposure along Lefferts Ave, while the ground-floor configuration supports convenient access. A long-term tax abatement is already in place for the property. The offering is located in the Wingate neighborhood and presents a flexible commercial setting for an office or community-oriented organization.

Key Highlights

• 3,000 SF of brand‑new ground‑floor commercial space
• Vanilla‑box delivery supports a custom build‑out
• Prominent street frontage along Lefferts Ave

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$74,844

Cap Rate

3.74%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,496,880 $1.5M

Cap Rate 7%

$1,069,200 $1.1M

Cap Rate 9%

$831,600 $831.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,000 SF

Gross rent

$129.6K $43.20/SF

− Vacancy

−$29.8K −$9.94/SF

EGI

$99.8K $33.26/SF

− OpEx

−$24.9K −$8.32/SF

NOI

$74.8K $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%

$1,496,880

Cap Rate 7%

$1,069,200

Cap Rate 9%

$831,600

Alternative Uses

Best Use

Office B

$1.07M

$935.6K – $1.25M (±1% cap)

NOI $74,844 @ 7.0% cap · market cap 3.74%

Second Best

Healthcare Medical

$993.6K

$869.4K – $1.16M (±1% cap)

NOI $69,552 @ 7.0% cap · market cap 3.48%

Theoretical Best

Specialty Retail

$2.48M

$2.17M – $2.90M (±1% cap)

NOI $173,880 @ 7.0% cap · market cap 8.69%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Office Units

Suggested Use

Top Pick Law Firm Real Estate Agency Parking Lot & Garage Dental Office Acupuncture Nursing Home

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

6,016

Businesses Nearby

Explore this area Business Placement

Demographics for 11225, NY

58,786

Population

26,703

Households

2.2

Avg Household Size

36

Median Age

48%

College-Educated

89%

High-School Grad

0.9 sq mi

ZIP Area

65,318

Density / Sq Mi

$85,201

Median Household Income

$54,639

Median Earnings

$1,733

Median Rent

$1,218,300

Median Home Value

Market

Average Price Trend$/SF for Office Units in Brooklyn, NY

$634 Jul

$595 Aug

$633 Sep

$636 Oct

Properties on Market for Office Units in Brooklyn

Jul

Aug

Sep

Oct

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

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Frequently Asked Questions

What type of property is this?

Office unit - Brand-new space with prominent street frontage and vanilla-box delivery for custom build-out.

Where is this office unit located?

The property is located at 408 Lefferts 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: 3,000 SF of brand‑new ground‑floor commercial space; Vanilla‑box delivery supports a custom build‑out; Prominent street frontage along Lefferts Ave