Three-Story Brick Storefront
For Sale
$3,800,000
4924 13th Ave, Brooklyn, NY 11219
COMMERCIAL - Brooklyn, NY
Property Size5,400 SF
Lot Size0.05 Acres
Price / SF$703.70
Days on Market641
Property Features for 4924 13th Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Mixed Use
Subdivision
Borough Park
Standard status
Active
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
31714
Utilities
Heating system
Baseboard, Natural Gas
Building Details
Year built
1920
Floors in Building
3
Flooring type
Hardwood
Building materials
Brick
Listing Agency:
REMAX REAL ESTATE PROFESSIONALS
(718) 887-5708
Listed By:
Vito Angelo · License #40AN0957928
(718) 887-5708
Added: Nov 18, 2024
Changed: Aug 5
Last Checked: Aug 21 at 4:06PM
MLS# 11365230
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.
Investment Insights
Based on property information with market context.
This three-story, solid brick corner building is arranged as eight commercial units, with four street-level storefronts and four office spaces. The property is configured with two office spaces on the third floor, two office spaces on the second floor, and four highly visible storefronts at the first floor/street level. A full finished basement provides additional space suited for storage use.
The building is described as located in the heart of the high-traffic 13th Avenue retail/commercial corridor in Borough Park, Brooklyn. Tenants pay all their own separate utilities.
Built in 1920, the interior includes hardwood flooring. Heating is provided via baseboard systems with natural gas.
The building is described as located in the heart of the high-traffic 13th Avenue retail/commercial corridor in Borough Park, Brooklyn. Tenants pay all their own separate utilities.
Built in 1920, the interior includes hardwood flooring. Heating is provided via baseboard systems with natural gas.
Key Highlights
- Eight commercial units: four storefronts on the first floor and four office spaces above
- Three‑story solid brick corner building with a full finished basement for storage
- 0.0463‑acre lot
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
$147,841
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
3.89%
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%
$2,956,820
$3.0M
Cap Rate 7%
$2,112,014
$2.1M
Cap Rate 9%
$1,642,678
$1.6M
Market Conditions
NOI Build-Up for 5,400 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
$252.7K $46.80/SF
− Vacancy
−$55.6K −$10.30/SF
EGI
$197.1K $36.50/SF
− OpEx
−$49.3K −$9.13/SF
NOI
$147.8K $27.38/SF
Area
ZIP 11219
Vacancy
22.00%
Lease Rate
$46.80 /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%
$2,956,820
Cap Rate 7%
$2,112,014
Cap Rate 9%
$1,642,678
Alternative Uses
Best Use
Office B
$2.11M
$1.85M – $2.46M
NOI $147,841 @ 7.0% cap · market cap 3.89%
Second Best
Retail
$1.62M
$1.42M – $1.89M
NOI $113,672 @ 7.0% cap · market cap 2.99%
Theoretical Best
Office A
$3.50M
$3.06M – $4.08M
NOI $245,048 @ 7.0% cap · market cap 6.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
7,487
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11219, NY
103,447
Population
27,973
Households
3.7
Avg Household Size
27
Median Age
21%
College-Educated
70%
High-School Grad
1.5 sq mi
ZIP Area
68,965
Density / Sq Mi
$55,685
Median Household Income
$30,647
Median Earnings
$1,678
Median Rent
$1,086,000
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - Three-story brick building with street-level storefronts and office spaces, including a full finished basement.
Where is this storefront property located?
The property is located at 4924 13th Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,800,000.
What are key features of this property?
This property features: Eight commercial units: four storefronts on the first floor and four office spaces above; Three‑story solid brick corner building with a full finished basement for storage; 0.0463‑acre lot
