Corner Retail Condominium
For Sale
Contact for pricing
79 Grand Street, Brooklyn, NY 11249
Vacant corner retail with 43 feet of frontage and over 10-foot ceilings plus finished below-grade space.
Property Size2,232 SF
Price / SF$716.85
Days on Market108
Property Features for 79 Grand Street
General Information
Standard status
Active
Size
2,232 SF
Property subtype
Retail
Zoning
R6A & C2-4
Building Details
Units
1
Listing Agency:
TerraCRG
Listed By:
Daniel Chung · License #10401380153
(718) 395-1877
Source:
Crexi
Added: Jun 2
Changed: Sep 15
Last Checked: Sep 16 at 1:00PM
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 TerraCRG
Investment Insights
Based on property information with market context.
This offering includes two retail condominium units positioned as a corner property, totaling 2,232 square feet. The space is delivered vacant and configured with 1,116 square feet of retail area plus another 1,116 square feet of finished below-grade space. Ceiling heights are over 10 feet, providing an open, storefront-appropriate feel for the above-grade portion. With 43 feet of frontage, the building presents substantial linear exposure for a retail tenant or owner-operator.
The property is located at the highly visible corner of Grand Street and Wythe Avenue in the heart of Williamsburg, Brooklyn. The corner configuration and frontage length are intended to support strong storefront presence along a prominent retail corridor within the neighborhood.
Available for sale as condominium retail, the units offer immediate flexibility for investors and owner-users since no tenant is in place at delivery. The offering also presents projected rents of approximately $150 per square foot, which can help prospective purchasers underwrite their preferred ownership structure and operating strategy based on the property’s existing, ready-to-use buildout.
The property is located at the highly visible corner of Grand Street and Wythe Avenue in the heart of Williamsburg, Brooklyn. The corner configuration and frontage length are intended to support strong storefront presence along a prominent retail corridor within the neighborhood.
Available for sale as condominium retail, the units offer immediate flexibility for investors and owner-users since no tenant is in place at delivery. The offering also presents projected rents of approximately $150 per square foot, which can help prospective purchasers underwrite their preferred ownership structure and operating strategy based on the property’s existing, ready-to-use buildout.
Key Highlights
- Vacant corner retail at the highly visible intersection of Grand Street and Wythe Avenue in Williamsburg, Brooklyn
- 1,116 SF of vacant retail space with 43 feet of frontage on a prime retail corridor
- Over 10‑foot high ceilings in the retail space
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
$107,035
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
6.69%
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%
$2,140,700
$2.1M
Cap Rate 7%
$1,529,071
$1.5M
Cap Rate 9%
$1,189,278
$1.2M
Market Conditions
NOI Build-Up for 2,232 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
$173.6K $77.76/SF
− Vacancy
−$20.7K −$9.25/SF
EGI
$152.9K $68.51/SF
− OpEx
−$45.9K −$20.55/SF
NOI
$107.0K $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 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%
$2,140,700
Cap Rate 7%
$1,529,071
Cap Rate 9%
$1,189,278
Alternative Uses
Best Use
Retail
$1.53M
$1.34M – $1.78M
NOI $107,035 @ 7.0% cap · market cap 6.69%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.85M
$1.62M – $2.16M
NOI $129,367 @ 7.0% cap · market cap 8.09%
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
11,642
Businesses Nearby
344k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 26%
Dining 24%
Shops & Services 17%
Hotels & Casinos 16%
Trader Joe's
Groceries
62,148 visits/mo
0.2 miles
New York Marriott at the Brooklyn Bridge
Hotels & Casinos
48,622 visits/mo
0.3 miles
Key Food - Atlantic Avenue
Groceries
21,965 visits/mo
0.2 miles
PetSmart
Shops & Services
18,203 visits/mo
0.3 miles
McDonald's
Dining
17,028 visits/mo
0.1 miles
Demographics for 11249, NY
42,024
Population
18,958
Households
2.2
Avg Household Size
31
Median Age
59%
College-Educated
89%
High-School Grad
0.7 sq mi
ZIP Area
60,034
Density / Sq Mi
$121,400
Median Household Income
$81,638
Median Earnings
$2,982
Median Rent
$1,326,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Storefront property - Vacant corner retail with 43 feet of frontage and over 10-foot ceilings plus finished below-grade space.
Where is this storefront property located?
The property is located at 79 Grand Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Vacant corner retail at the highly visible intersection of Grand Street and Wythe Avenue in Williamsburg, Brooklyn; 1,116 SF of vacant retail space with 43 feet of frontage on a prime retail corridor; Over 10‑foot high ceilings in the retail space
