Commercial Land with
For Sale
$2,300,000
420 39th Street, Brooklyn, NY 11232
Commercial, Brooklyn, NY
Property Size1,700 SF
Lot Size0.11 Acres
Price / SF$1,352
Days on Market8
Property Features for 420 39th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
M1-2
Subdivision
Sunset Park
Standard status
Active
Size
1,700 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Annual Amount
16694
Building Details
Number of units
1
Flooring type
Concrete
Building materials
Brick
Roof type
Asphalt
Listing Agency:
1st Premier Realty Network Inc
(718) 745-5792
Listed By:
Khaled (Charles) Farraj · License #KF8815
(718) 745-5792
Added: Aug 14
Changed: Aug 21
Last Checked: Aug 21 at 3:06PM
MLS# 503795
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This M1-2-zoned commercial land parcel includes an existing 1,700-square-foot garage on a 0.1148-acre lot. The site measures 50 by 100 feet and includes a brick structure with concrete flooring and an asphalt roof.
Located on 39th Street in Brooklyn’s Sunset Park, the property is near shops and public transportation. Its existing garage and industrial zoning provide the primary physical and land-use characteristics for evaluating the site.
Located on 39th Street in Brooklyn’s Sunset Park, the property is near shops and public transportation. Its existing garage and industrial zoning provide the primary physical and land-use characteristics for evaluating the site.
Key Highlights
- 0.1148‑acre commercial land parcel
- 50 x 100 lot
- Existing 1,700‑square‑foot garage
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
$81,523
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
3.54%
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%
$1,630,460
$1.6M
Cap Rate 7%
$1,164,614
$1.2M
Cap Rate 9%
$905,811
$905.8K
Market Conditions
NOI Build-Up for 1,700 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
$132.2K $77.76/SF
− Vacancy
−$15.7K −$9.25/SF
EGI
$116.5K $68.51/SF
− OpEx
−$34.9K −$20.55/SF
NOI
$81.5K $47.95/SF
Area
Brooklyn, NY
Vacancy
11.90%
Lease Rate
$77.76 /SF/Yr
Expense Ratio
30.00%
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%
$1,630,460
Cap Rate 7%
$1,164,614
Cap Rate 9%
$905,811
Alternative Uses
Best Use
Retail
$1.16M
$1.02M – $1.36M
NOI $81,523 @ 7.0% cap · market cap 3.54%
Second Best
Industrial
$432.0K
$378.0K – $504.1K
NOI $30,243 @ 7.0% cap · market cap 1.31%
Theoretical Best
Specialty Retail
$1.41M
$1.23M – $1.64M
NOI $98,532 @ 7.0% cap · market cap 4.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,589
Businesses Nearby
472k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 64%
Dining 19%
Shops & Services 12%
Groceries 5%
Costco Wholesale
Superstores
303,066 visits/mo
0.3 miles
McDonald's
Dining
61,940 visits/mo
0.1 miles
Speedway
Shops & Services
17,683 visits/mo
0.5 miles
Dunkin' Donuts
Dining
17,346 visits/mo
0.3 miles
Key Food
Groceries
17,068 visits/mo
0.2 miles
Demographics for 11232, NY
30,181
Population
10,004
Households
3
Avg Household Size
35
Median Age
36%
College-Educated
69%
High-School Grad
1.2 sq mi
ZIP Area
25,151
Density / Sq Mi
$87,517
Median Household Income
$45,983
Median Earnings
$1,972
Median Rent
$782,500
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - M1-2-zoned site with an existing garage in Sunset Park, near shops and public transportation.
Where is this commercial land located?
The property is located at 420 39th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: 0.1148‑acre commercial land parcel; 50 x 100 lot; Existing 1,700‑square‑foot garage
