Leased Retail Condominium
For Sale
Contact for pricing
525 MYRTLE AVE, Brooklyn, NY 11205
Fully leased ground-floor retail condominium with street-facing frontage and an additional basement space.
Property Size1,771 SF
Price / SF$903.44
Days on Market59
Property Features for 525 MYRTLE AVE
General Information
Standard status
Active
Size
1,771 SF
Property subtype
Retail
Occupancy
100%
Lease Type
Modified Gross
Investment Type
Stabilized
Net Operating Income
$120,750
Building Details
Year Built
2015
Stories
7
Units
1
Tenancy
Single
Listing Agency:
Marshall Real Estate, LLC
Listed By:
Matthew Marshall · License #NY 10491203132
Source:
Crexi
Added: Jul 21
Changed: Sep 12
Last Checked: Sep 16 at 12:30PM
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 Marshall Real Estate, LLC
Investment Insights
Based on property information with market context.
525 Myrtle Avenue offers the 100% fee simple interest in a retail condominium unit that is currently fully leased. The condominium includes approximately 1,611 square feet of ground-floor retail space plus an additional 160-square-foot basement, for a total of approximately 1,771 square feet.
The property is positioned along Myrtle Avenue in the Clinton Hill neighborhood of Brooklyn. It is 100% occupied by CKO Kickboxing under a newly executed long-term lease extending through April 2036.
The layout is configured for retail use with prominent street frontage and a ground-floor customer-facing presence, supported by supplemental basement area.
The property is positioned along Myrtle Avenue in the Clinton Hill neighborhood of Brooklyn. It is 100% occupied by CKO Kickboxing under a newly executed long-term lease extending through April 2036.
The layout is configured for retail use with prominent street frontage and a ground-floor customer-facing presence, supported by supplemental basement area.
Key Highlights
- Fully leased retail condominium at 525 Myrtle Avenue in Brooklyn’s Clinton Hill neighborhood
- 100% occupied by CKO Kickboxing under a newly executed long‑term lease extending through April 2036
- Approximately 1,611 SF ground‑floor retail space plus 160 SF basement, totaling about 1,771 SF
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
$84,928
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
5.31%
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%
$1,698,560
$1.7M
Cap Rate 7%
$1,213,257
$1.2M
Cap Rate 9%
$943,644
$943.6K
Market Conditions
NOI Build-Up for 1,771 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
$137.7K $77.76/SF
− Vacancy
−$16.4K −$9.25/SF
EGI
$121.3K $68.51/SF
− OpEx
−$36.4K −$20.55/SF
NOI
$84.9K $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%
$1,698,560
Cap Rate 7%
$1,213,257
Cap Rate 9%
$943,644
Alternative Uses
Best Use
Retail
$1.21M
$1.06M – $1.42M
NOI $84,928 @ 7.0% cap · market cap 5.31%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.47M
$1.28M – $1.71M
NOI $102,647 @ 7.0% cap · market cap 6.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
5,770
Businesses Nearby
126k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 72%
Dining 17%
Home Improvements & Furnishings 5%
Beauty & Spa 4%
Sunoco
Shops & Services
17,347 visits/mo
0.4 miles
Shell
Shops & Services
16,609 visits/mo
0.4 miles
Chase Bank
Shops & Services
13,526 visits/mo
0.5 miles
Citgo
Shops & Services
12,010 visits/mo
0.2 miles
Chase Bank
Shops & Services
11,069 visits/mo
0.3 miles
Demographics for 11205, NY
50,474
Population
19,200
Households
2.6
Avg Household Size
30
Median Age
52%
College-Educated
86%
High-School Grad
1.2 sq mi
ZIP Area
42,062
Density / Sq Mi
$86,753
Median Household Income
$59,901
Median Earnings
$2,307
Median Rent
$892,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Retail space - Fully leased ground-floor retail condominium with street-facing frontage and an additional basement space.
Where is this retail space located?
The property is located at 525 MYRTLE AVE Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Fully leased retail condominium at 525 Myrtle Avenue in Brooklyn’s Clinton Hill neighborhood; 100% occupied by CKO Kickboxing under a newly executed long‑term lease extending through April 2036; Approximately 1,611 SF ground‑floor retail space plus 160 SF basement, totaling about 1,771 SF
