Ground-Floor Office
For Sale
Contact for pricing
408 Lefferts Ave, Brooklyn, NY 11225
Brand-new space with prominent street frontage and vanilla-box delivery for custom build-out.
Property Size3,000 SF
Price / SF$666.67
Days on Market55
Property Features for 408 Lefferts Ave
General Information
Standard status
Active
Size
3,000 SF
Property subtype
OFFICE
Space & Availability
Floor
Ground Floor
Furnished
No
Additional Details
Road Access
Yes
Listing Agency:
The Corcoran Group | Brooklyn Heights
(718) 852-9050
Listed By:
Salomon Danielov · License #10401221164
(347) 306-4996
Source:
Moodyscre
Added: Jul 30
Changed: Sep 8
Last Checked: Sep 22 at 4:48PM
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
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.
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$74,844
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.74%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,496,880
$1.5M
Cap Rate 7%
$1,069,200
$1.1M
Cap Rate 9%
$831,600
$831.6K
Market Conditions
NOI Build-Up for 3,000 SF
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
NOI $74,844 @ 7.0% cap · market cap 3.74%
Second Best
Healthcare Medical
$993.6K
$869.4K – $1.16M
NOI $69,552 @ 7.0% cap · market cap 3.48%
Theoretical Best
Specialty Retail
$2.48M
$2.17M – $2.90M
NOI $173,880 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Office units - Brand-new space with prominent street frontage and vanilla-box delivery for custom build-out.
Where is this office units 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
