Retail Building with Corner
For Sale
Contact for pricing
7823 5th Ave, Brooklyn, NY 11209
Retail building zoned C4-3A with 5th Avenue and 15th Street frontage and 2nd-floor plus basement space.
Property Size21,016 SF
Lot Size0.17 Acres
Price / SF$975.45
Days on Market705
Property Features for 7823 5th Ave
General Information
Standard status
Active
Size
21,016 SF
Lot size
0.17 Acres
Property subtype
RETAIL
Zoning
C4-3A
Building Details
Buildings
1
Stories
2
Listing Agency:
Red Sparrow Realty
(212) 601-2686
Listed By:
Russell Dinstein
(212) 655-7526
Source:
Moodyscre
Added: Nov 28, 2024
Changed: Nov 2
Last Checked: Nov 1 at 5:22AM
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 Red Sparrow Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Retail building with corner frontage on 5th Avenue and 15th Street and a total lot span of 7,350 square feet. The building is built to 13,800.1 square feet of above-grade space, split between a 1st floor with 7,300 square feet and a 2nd floor with 6,500 square feet. A 7,300 +/- square foot selling basement adds to a total Cross Lea-sable Area (CLA) of 21,016 square feet.
The property is zoned C4-3A, which permits both residential and commercial uses. The maximum Floor Area Ratio (FAR) permitted is 3, providing the property with 7,600 +/- square feet of unused as-of-right air rights.
With frontage on two streets and multiple levels totaling 21,016 square feet of CLA, the building offers a flexible layout for retail users seeking a multi-level footprint.
The property is zoned C4-3A, which permits both residential and commercial uses. The maximum Floor Area Ratio (FAR) permitted is 3, providing the property with 7,600 +/- square feet of unused as-of-right air rights.
With frontage on two streets and multiple levels totaling 21,016 square feet of CLA, the building offers a flexible layout for retail users seeking a multi-level footprint.
Key Highlights
- 73.5 feet of frontage on 5th Avenue and 100 feet of frontage on 15th Street
- Total 7,350 square foot lot spanning the entire parcel
- 13,800.1 square feet above grade split into 1st floor 7,300 SF and 2nd floor 6,500 SF
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$1,007,814
Cap Rate
4.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$20,156,280
$20.2M
Cap Rate 7%
$14,397,343
$14.4M
Cap Rate 9%
$11,197,933
$11.2M
Market Conditions
NOI Build-Up for 21,016 SF
Gross rent
$1.63M $77.76/SF
− Vacancy
−$194.5K −$9.25/SF
EGI
$1.44M $68.51/SF
− OpEx
−$431.9K −$20.55/SF
NOI
$1.01M $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 Rate 5%
$20,156,280
Cap Rate 7%
$14,397,343
Cap Rate 9%
$11,197,933
Alternative Uses
Best Use
Retail
$14.40M
$12.60M – $16.80M
NOI $1,007,814 @ 7.0% cap · market cap 4.92%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$17.40M
$15.23M – $20.30M
NOI $1,218,087 @ 7.0% cap · market cap 5.94%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
5,664
Businesses Nearby
135k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 44%
Dining 29%
Beauty & Spa 11%
Groceries 10%
Starbucks
Dining
15,586 visits/mo
0.4 miles
Chase Bank
Shops & Services
13,325 visits/mo
0.1 miles
Bath & Body Works
Beauty & Spa
12,976 visits/mo
0.5 miles
Key Food Marketplace
Groceries
12,903 visits/mo
0.4 miles
Bank of America
Shops & Services
12,467 visits/mo
0.4 miles
Demographics for 11209, NY
73,239
Population
33,286
Households
2.2
Avg Household Size
40
Median Age
53%
College-Educated
90%
High-School Grad
2.1 sq mi
ZIP Area
34,876
Density / Sq Mi
$92,656
Median Household Income
$62,455
Median Earnings
$1,857
Median Rent
$905,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Retail space - Retail building zoned C4-3A with 5th Avenue and 15th Street frontage and 2nd-floor plus basement space.
Where is this retail space located?
The property is located at 7823 5th Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $20,500,000.
What are key features of this property?
This property features: 73.5 feet of frontage on 5th Avenue and 100 feet of frontage on 15th Street; Total 7,350 square foot lot spanning the entire parcel; 13,800.1 square feet above grade split into 1st floor 7,300 SF and 2nd floor 6,500 SF
