Commercial Land With Existing
New
For Sale
$5,999,990
528 President St, Brooklyn, NY 11215
Two adjacent parcels combine development land with an existing building and support mixed-use planning subject to applicable approvals.
Property Size5,063 SF
Days on Market3
Property Features for 528 President St
General Information
Standard status
Active
Size
5,063 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$23,637
Building Details
Building Size
5,063 SF
Year Built
1931
Stories
1
Listing Agency:
RE/MAX Elite
(718) 690-3900
Listed By:
Eric C. Chan
(718) 690-3900
Source:
Elliman
Added: Aug 11
Changed: Aug 12
Last Checked: Aug 12 at 6:37AM
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 Elite
Investment Insights
Based on property information with market context.
This commercial land offering includes two adjacent Brooklyn properties: 524 President Street, an approximately 30' x 20' lot, and 528 President Street, an approximately 30' x 150' lot improved with an approximately 5,063-square-foot building. The existing structure was built in 1931, providing a physical improvement alongside the additional parcel.
The properties are zoned M1-4/R6B and are situated within a Qualified Opportunity Zone. Proposed additions, alterations, or redevelopment are subject to applicable approvals, with buyers advised to consult their own architect or engineer. Walk Score is 99, Bike Score is 93, and Transit Score is 100. The offering is located at 524 President Street and 528 President Street in Brooklyn, New York.
The properties are zoned M1-4/R6B and are situated within a Qualified Opportunity Zone. Proposed additions, alterations, or redevelopment are subject to applicable approvals, with buyers advised to consult their own architect or engineer. Walk Score is 99, Bike Score is 93, and Transit Score is 100. The offering is located at 524 President Street and 528 President Street in Brooklyn, New York.
Key Highlights
- Two adjacent properties at 524 President Street and 528 President Street
- 524 President Street includes an approximately 30' x 20' lot
- 528 President Street includes an approximately 30' x 150' 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
$183,787
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
3.06%
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%
$3,675,740
$3.7M
Cap Rate 7%
$2,625,529
$2.6M
Cap Rate 9%
$2,042,078
$2.0M
Market Conditions
NOI Build-Up for 5,063 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
$334.2K $66.00/SF
− Vacancy
−$40.1K −$7.92/SF
EGI
$294.1K $58.08/SF
− OpEx
−$110.3K −$21.78/SF
NOI
$183.8K $36.30/SF
Area
Brooklyn, NY
Vacancy
12.00%
Lease Rate
$66.00 /SF/Yr
Expense Ratio
37.50%
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%
$3,675,740
Cap Rate 7%
$2,625,529
Cap Rate 9%
$2,042,078
Alternative Uses
Best Use
Mixed Use
$2.63M
$2.30M – $3.06M
NOI $183,787 @ 7.0% cap · market cap 3.06%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.19M
$3.67M – $4.89M
NOI $293,451 @ 7.0% cap · market cap 4.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
7,693
Businesses Nearby
Explore this area
Business Placement
Demographics for 11215, NY
67,493
Population
32,197
Households
2.1
Avg Household Size
37
Median Age
80%
College-Educated
96%
High-School Grad
2.2 sq mi
ZIP Area
30,679
Density / Sq Mi
$180,773
Median Household Income
$99,151
Median Earnings
$2,803
Median Rent
$1,674,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Two adjacent parcels combine development land with an existing building and support mixed-use planning subject to applicable approvals.
Where is this commercial land located?
The property is located at 528 President St Brooklyn, NY.
What is the asking price?
The asking price for this property is $5,999,990.
What are key features of this property?
This property features: Two adjacent properties at 524 President Street and 528 President Street; 524 President Street includes an approximately 30' x 20' lot; 528 President Street includes an approximately 30' x 150' lot
