Sunset Park Two-Story Commercial
For Sale
Contact for pricing
821 39th Street, Brooklyn, NY 11232
Two-story commercial building in Sunset Park, Brooklyn, built in 2000.
Property Size3,500 SF
Lot Size0.08 Acres
Price / SF$571.14
Days on Market149
Property Features for 821 39th Street
General Information
Standard status
Active
Size
3,500 SF
Lot size
0.08 Acres
Property subtype
Office
Building Details
Year Built
2000
Stories
2
Units
2
Listing Agency:
CENTURY 21 Zaloom Realty
(929) 460-0008
Listed By:
Allen Luo · License #10491214007
Source:
Crexi
Added: Mar 18
Changed: Aug 8
Last Checked: Aug 8 at 6:23AM
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 CENTURY 21 Zaloom Realty
Investment Insights
Based on property information with market context.
Located in Sunset Park, this two-story commercial building offers approximately 2,500 square feet of interior space on a 3,500 square foot lot. Constructed in 2000, the property is suitable for various business or investment uses. The building features four HVAC systems, providing flexibility for different layouts or potential multi-tenant occupancy. Situated in a high-traffic area with both residential and commercial activity, the location offers excellent visibility and steady foot traffic. The property is located minutes from public transportation, including the 9th Avenue station on the New York City Subway D Line, providing easy accessibility for customers and employees. This Brooklyn location is ideal for establishing or expanding a business.
Key Highlights
- Prime location in Sunset Park, Brooklyn, with high visibility and foot traffic
- Excellent accessibility to public transportation, including the 9th Avenue D Line station
- Approximately 2,500 sq ft of interior space on a 3,500 sq ft lot, suitable for various business uses
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
$87,318
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
4.37%
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%
$1,746,360
$1.7M
Cap Rate 7%
$1,247,400
$1.2M
Cap Rate 9%
$970,200
$970.2K
Market Conditions
NOI Build-Up for 3,500 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
$151.2K $43.20/SF
− Vacancy
−$34.8K −$9.94/SF
EGI
$116.4K $33.26/SF
− OpEx
−$29.1K −$8.32/SF
NOI
$87.3K $24.95/SF
Area
Brooklyn, NY
Vacancy
23.00%
Lease Rate
$43.20 /SF/Yr
Expense Ratio
25.00%
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%
$1,746,360
Cap Rate 7%
$1,247,400
Cap Rate 9%
$970,200
Alternative Uses
Best Use
Office B
$1.25M
$1.09M – $1.46M
NOI $87,318 @ 7.0% cap · market cap 4.37%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.90M
$2.54M – $3.38M
NOI $202,860 @ 7.0% cap · market cap 10.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,588
Businesses Nearby
Explore this area
Business Placement
Demographics for 11232, NY
30,181
Population
10,004
Households
3
Avg Household Size
35
Median Age
36%
College-Educated
69%
High-School Grad
1.2 sq mi
ZIP Area
25,151
Density / Sq Mi
$87,517
Median Household Income
$45,983
Median Earnings
$1,972
Median Rent
$782,500
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Two-story commercial building in Sunset Park, Brooklyn, built in 2000.
Where is this office building located?
The property is located at 821 39th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,999,000.
What are key features of this property?
This property features: Prime location in Sunset Park, Brooklyn, with **high visibility and foot traffic**; Excellent accessibility to public transportation, including the 9th Avenue D Line station; Approximately 2,500 sq ft of interior space on a 3,500 sq ft lot, suitable for various business uses
