Freestanding Cold Storage
For Sale
$11,500,000
585 Meserole Street, Brooklyn, NY 11237
Industrial facility with dedicated freezer capacity, office improvements, and M3-1 zoning for warehousing and manufacturing uses.
Property Size19,800 SF
Price / SF$580.81
Days on Market61
Property Features for 585 Meserole Street
General Information
Standard status
Active
Size
19,800 SF
Property subtype
Warehouse
Zoning
M3-1
Warehouse & Industrial
Clear Height
20 ft
Warehouse Space
18,125 SF
Office Build-Out
1,675 SF
Cold Storage
Yes
Cold Storage Area
2,700 SF
Freezer
2,700 SF
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$92,285
Building Details
Building Size
19,800 SF
Year Built
1980
Buildings
1
Listing Agency:
Trademarko Realty Inc
(718) 710-8170
Listed By:
Marek Sobolewski · License #10311207231
Source:
Eliterealtyinc
Added: Jun 29
Changed: Aug 28
Last Checked: Aug 28 at 6:49AM
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 Trademarko Realty Inc
Investment Insights
Based on property information with market context.
This freestanding warehouse provides approximately 19,800 square feet of industrial space, including 1,675 square feet of built-out office area and 18,125 square feet of net warehouse floor. The building has 20-foot clear ceilings and two walk-in freezers, each measuring approximately 30 by 45 feet, for 2,700 square feet of combined cold storage. Built in 1980, the property is configured for warehousing, logistics, manufacturing, and other industrial operations supported by its M3-1 zoning.
The property is located at 585 Meserole Street in Brooklyn's East Williamsburg industrial area. J/M train service is available at Kosciuszko Street, while the L train serves Grand Street. The site is also described as very close to the Brooklyn-Queens Expressway, I-278, and the Myrtle Avenue corridor, providing access to Manhattan and regional freight routes.
The property is located at 585 Meserole Street in Brooklyn's East Williamsburg industrial area. J/M train service is available at Kosciuszko Street, while the L train serves Grand Street. The site is also described as very close to the Brooklyn-Queens Expressway, I-278, and the Myrtle Avenue corridor, providing access to Manhattan and regional freight routes.
Key Highlights
- Approximately 19,800 SF freestanding warehouse built in 1980
- 1,675 SF of built‑out office space and 18,125 SF net warehouse floor
- Two walk‑in freezers measuring approximately 30 by 45 feet each
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
$427,727
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
3.72%
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%
$8,554,540
$8.6M
Cap Rate 7%
$6,110,386
$6.1M
Cap Rate 9%
$4,752,522
$4.8M
Market Conditions
NOI Build-Up for 19,800 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
$527.5K $26.64/SF
− Vacancy
−$24.3K −$1.23/SF
EGI
$503.2K $25.41/SF
− OpEx
−$75.5K −$3.81/SF
NOI
$427.7K $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 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%
$8,554,540
Cap Rate 7%
$6,110,386
Cap Rate 9%
$4,752,522
Alternative Uses
Best Use
Warehouse
$6.11M
$5.35M – $7.13M
NOI $427,727 @ 7.0% cap · market cap 3.72%
Second Best
Industrial
$5.03M
$4.40M – $5.87M
NOI $352,246 @ 7.0% cap · market cap 3.06%
Theoretical Best
Specialty Retail
$16.39M
$14.35M – $19.13M
NOI $1,147,608 @ 7.0% cap · market cap 9.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20 ft
Clear height
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4,170
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11237, NY
49,418
Population
18,801
Households
2.6
Avg Household Size
31
Median Age
41%
College-Educated
76%
High-School Grad
1.0 sq mi
ZIP Area
49,418
Density / Sq Mi
$82,570
Median Household Income
$43,421
Median Earnings
$2,109
Median Rent
$1,063,700
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Industrial facility with dedicated freezer capacity, office improvements, and M3-1 zoning for warehousing and manufacturing uses.
Where is this warehouse located?
The property is located at 585 Meserole Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $11,500,000.
What are key features of this property?
This property features: Approximately 19,800 SF freestanding warehouse built in 1980; 1,675 SF of built‑out office space and 18,125 SF net warehouse floor; Two walk‑in freezers measuring approximately 30 by 45 feet each
