Commercial Land with Existing
For Sale
$5,999,990
528 President Street, Brooklyn, NY 11215
Commercial, Brooklyn, NY
Property Size5,063 SF
Lot Size0.12 Acres
Price / SF$1,185
Days on Market49
Property Features for 528 President Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
M1-4/R6B
Basement
Unfinished
Subdivision
Carroll Gardens
Standard status
Active
Size
5,063 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Annual Amount
23637
Building Details
Year built
1931
Floors in Building
1
Flooring type
Concrete
Building materials
Block, Brick
Listing Agency:
RE/MAX Elite
Listed By:
Eric C. Chan
(718) 690-3900
Added: Aug 10
Changed: Sep 5
Last Checked: Sep 27 at 8:06AM
MLS# 503612
Copyright © 2026 Brooklyn New York Multiple Listing Service. 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 commercial land offering includes two adjacent President Street parcels. The property at 524 President Street is an approximately 30-by-20-foot lot, while 528 President Street occupies an approximately 30-by-150-foot lot and includes a 5,063-square-foot building. Constructed in 1931, the building features block and brick construction with concrete flooring. The parcels are zoned M1-4/R6B, supporting consideration of future development or mixed-use plans subject to applicable approvals.
The property is located in Brooklyn's Gowanus/Park Slope area, near shopping, dining, public transportation, and major highways, with access to Manhattan. The offering is also situated within a Qualified Opportunity Zone. Buyers are advised to consult an architect or engineer regarding any proposed additions, alterations, or redevelopment.
The property is located in Brooklyn's Gowanus/Park Slope area, near shopping, dining, public transportation, and major highways, with access to Manhattan. The offering is also situated within a Qualified Opportunity Zone. Buyers are advised to consult an architect or engineer regarding any proposed additions, alterations, or redevelopment.
Key Highlights
- Two adjacent parcels at 524 and 528 President Street
- 528 President Street includes a 5,063‑square‑foot building
- 524 President Street: approximately 30' x 20' 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
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
8,826
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
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Frequently Asked Questions
What type of property is this?
Commercial land - Two adjacent parcels combine industrial-residential zoning with an existing masonry structure and access to nearby transit and major highways.
Where is this commercial land located?
The property is located at 528 President Street 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 parcels at 524 and 528 President Street; 528 President Street includes a 5,063‑square‑foot building; 524 President Street: approximately 30' x 20' lot
