Ground-Floor Ice Cream
653 Sterling Place, Brooklyn, NY 11216
For Sale
Contact for pricing
ADA-compliant premises include a hood, HVAC, and plumbing already in place.
Property Size500 SF
Price / SF$1,500
Days on Market19
Property Features for 653 Sterling Place
General Information
Standard status
Size
Property subtype
Restaurant
Commercial Hood
Equipment Included
Additional Details
Floor
Business Included
Listing Agency:
Tri State Commercial
Listed By:
Shlomi Bagdadi · License NY #10311204539
(718) 437-6100
Source:
Crexi
Added: Oct 23
Changed: Nov 8
Last Checked: Nov 8 at 5:01PM
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 Tri State Commercial
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 500 SF ice cream shop occupies a ground-floor space at 653 Sterling Place. The premises are ADA compliant and include a hood, HVAC system, and plumbing. The business is offered for sale, with 18 years remaining on its 20-year lease.
The property is in Brooklyn’s Crown Heights neighborhood, between Franklin Avenue and Bedford Avenue.
The property is in Brooklyn’s Crown Heights neighborhood, between Franklin Avenue and Bedford Avenue.
Key Highlights
- 500 SF ground‑floor ice cream shop
- 18 years remaining on a 20‑year lease
- ADA‑compliant space with hood, HVAC system, and plumbing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,980
Cap Rate
3.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$579,600
$579.6K
Cap Rate 7%
$414,000
$414.0K
Cap Rate 9%
$322,000
$322.0K
Market Conditions
NOI Build-Up for 500 SF
Gross rent
$42.0K $84.00/SF
− Vacancy
−$3.4K −$6.72/SF
EGI
$38.6K $77.28/SF
− OpEx
−$9.7K −$19.32/SF
NOI
$29.0K $57.96/SF
Area
Brooklyn, NY
Vacancy
8.00%
Lease Rate
$84.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$579,600
Cap Rate 7%
$414,000
Cap Rate 9%
$322,000
Alternative Uses
Best Use
Specialty Retail
$414.0K
$362.3K – $483.0K
NOI $28,980 @ 7.0% cap · market cap 3.86%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
5,644
Businesses Nearby
97k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 57%
Groceries 26%
Dining 14%
Electronics 3%
Shell
Shops & Services
29,804 visits/mo
0.4 miles
Urban Market by Key Food
Groceries
13,185 visits/mo
0.4 miles
Dunkin' Donuts
Dining
10,893 visits/mo
0.5 miles
The UPS Store
Shops & Services
9,255 visits/mo
0.4 miles
Shell
Shops & Services
8,014 visits/mo
0.4 miles
Demographics for 11216, NY
61,251
Population
28,825
Households
2.1
Avg Household Size
34
Median Age
56%
College-Educated
91%
High-School Grad
1.0 sq mi
ZIP Area
61,251
Density / Sq Mi
$95,000
Median Household Income
$61,389
Median Earnings
$2,180
Median Rent
$1,398,400
Median Home Value
Market
Average Price Trend$/SF for Conventional restaurants in Brooklyn, NY
Properties on Market for Conventional restaurants in Brooklyn
Vacancy Rate% for Retail in Northeast region
Similar Off Market Nearby
- Soldier — 1444 Fulton St, Brooklyn, NY 11216
Frequently Asked Questions
What type of property is this?
Conventional restaurant - ADA-compliant premises include a hood, HVAC, and plumbing already in place.
Where is this conventional restaurant located?
The property is located at 653 Sterling Place Brooklyn, NY.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 500 SF ground‑floor ice cream shop; 18 years remaining on a 20‑year lease; ADA‑compliant space with hood, HVAC system, and plumbing
