Spacious Warehouse with Mezzanine
For Sale
$1,999,000
51 Gravesend Neck Road, Brooklyn, NY 11223
Prime Gravesend warehouse with office space, ideal for various businesses.
Property Size3,000 SF
Price / SF$666.33
Days on Market565
Property Features for 51 Gravesend Neck Road
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Commercial/Industrial
Listing Agency:
RE/MAX Real Estate Professiona
Listed By:
Billy E. Apter · License #BEA5721
(718) 532-2000
Source:
Exitrealty
Added: Mar 21, 2025
Changed: Sep 1
Last Checked: Sep 15 at 4:49AM
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 RE/MAX Real Estate Professiona
Investment Insights
Based on property information with market context.
This warehouse, featuring a mezzanine office, is located in the Gravesend neighborhood. The property is suitable for businesses needing extra-spacious and ultra-tall warehouse space. The location has a walk score of 98, indicating it is a walker's paradise, and a transit score of 80, reflecting excellent transit options. The bike score is 58, indicating it is bikeable.
Key Highlights
- Prime Gravesend location on McDonald Avenue
- Extra‑spacious and ultra‑tall warehouse space
- Mezzanine office
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$64,807
Cap Rate
3.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,296,140
$1.3M
Cap Rate 7%
$925,814
$925.8K
Cap Rate 9%
$720,078
$720.1K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$79.9K $26.64/SF
− Vacancy
−$3.7K −$1.23/SF
EGI
$76.2K $25.41/SF
− OpEx
−$11.4K −$3.81/SF
NOI
$64.8K $21.60/SF
Area
Brooklyn, NY
Vacancy
4.60%
Lease Rate
$26.64 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,296,140
Cap Rate 7%
$925,814
Cap Rate 9%
$720,078
Alternative Uses
Best Use
Warehouse
$925.8K
$810.1K – $1.08M
NOI $64,807 @ 7.0% cap · market cap 3.24%
Second Best
Industrial
$762.4K
$667.1K – $889.5K
NOI $53,371 @ 7.0% cap · market cap 2.67%
Theoretical Best
Specialty Retail
$2.48M
$2.17M – $2.90M
NOI $173,880 @ 7.0% cap · market cap 8.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
3,056
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11223, NY
83,519
Population
28,857
Households
2.9
Avg Household Size
37
Median Age
34%
College-Educated
78%
High-School Grad
2.1 sq mi
ZIP Area
39,771
Density / Sq Mi
$63,950
Median Household Income
$40,592
Median Earnings
$1,653
Median Rent
$1,063,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Northeast region
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Similar Off Market Nearby
- Trident Moving — 2510 Ocean Pkwy, Brooklyn, NY 11235
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- Self Storage — 2390 coney island ave, brooklyn, ny 11223
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- Postman Joe 11223 (FedEx, USPS, UPS, PUDO, MEEST, Mail Boxes for rent) All in one drop off location — 1923 McDonald Ave, Brooklyn, NY 11223
Frequently Asked Questions
What type of property is this?
Warehouse - Prime Gravesend warehouse with office space, ideal for various businesses.
Where is this warehouse located?
The property is located at 51 Gravesend Neck Road Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,999,000.
What are key features of this property?
This property features: Prime Gravesend location on McDonald Avenue; Extra‑spacious and ultra‑tall warehouse space; Mezzanine office
