Corner Retail Building with Ground
For Sale
Contact for pricing
501 Smith St, Brooklyn, NY 11231
High-visibility corner retail building with ground-floor vacancy and a new 10-year lease on the second floor.
Property Size4,000 SF
Price / SF$875
Days on Market23
Property Features for 501 Smith St
General Information
Standard status
Active
Size
4,000 SF
Property subtype
RETAIL
Listing Agency:
RIPCO Real Estate - Brooklyn
(646) 827-9968
Listed By:
Alex Svetlakou · License #10401242416
Source:
Moodyscre
Added: Jul 9
Changed: Jul 25
Last Checked: Jul 30 at 11:05AM
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 RIPCO Real Estate - Brooklyn
Investment Insights
Based on property information with market context.
This high-visibility corner retail building includes a ground-floor vacancy, creating value-add and/or owner-user opportunity. The second-floor space is under a new 10-year lease, supporting stabilized income. The property also has in-place and projected annual gross revenue of $260,000.
The building is located next to the F & G train stop at Smith-9 Sts, providing strong transit adjacency for retail activity. The property is listed for sale at 501 Smith St, Brooklyn, NY 11231.
The building is located next to the F & G train stop at Smith-9 Sts, providing strong transit adjacency for retail activity. The property is listed for sale at 501 Smith St, Brooklyn, NY 11231.
Key Highlights
- High‑visibility corner retail building
- Ground‑floor vacancy provides value‑add and/or owner‑user potential
- New 10‑year lease for the 2nd floor space
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 | $311.0k | $77.76 |
| − Vacancy | −$37.0k | −$9.25 |
| EGI | $274.0k | $68.51 |
| − OpEx | −$82.2k | −$20.55 |
| NOI | $191.8k | $47.95 |
4,000 SF · lease $77.76/SF/yr · vacancy 11.90% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.74M
$2.40M – $3.20M
NOI $191,818 @ 7.0% cap · market cap 5.48%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.31M
$2.90M – $3.86M
NOI $231,840 @ 7.0% cap · market cap 6.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,868
Businesses Nearby
330k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 48%
Shops & Services 28%
Dining 23%
Groceries 1%
The Home Depot
Home Improvements & Furnishings
70,488 visits/mo
0.3 miles
Lowe's
Home Improvements & Furnishings
61,501 visits/mo
0.2 miles
McDonald's
Dining
32,520 visits/mo
0.2 miles
Dollar Tree
Shops & Services
30,894 visits/mo
0.3 miles
BP
Shops & Services
20,614 visits/mo
0.3 miles
Demographics for 11231, NY
37,240
Population
18,265
Households
2
Avg Household Size
37
Median Age
69%
College-Educated
90%
High-School Grad
1.4 sq mi
ZIP Area
26,600
Density / Sq Mi
$138,485
Median Household Income
$85,791
Median Earnings
$2,474
Median Rent
$1,678,900
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?
Retail space - High-visibility corner retail building with ground-floor vacancy and a new 10-year lease on the second floor.
Where is this retail space located?
The property is located at 501 Smith St Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: High‑visibility corner retail building; Ground‑floor vacancy provides value‑add and/or owner‑user potential; New 10‑year lease for the 2nd floor space
