Two-Story Auto Shop with
For Sale
$2,350,000
8234 18th Avenue, Brooklyn, NY 11214
Commercial, Brooklyn, NY
Property Size3,466 SF
Lot Size0.05 Acres
Price / SF$678.02
Days on Market429
Property Features for 8234 18th Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
M1-1
Subdivision
Bensonhurst
Standard status
Active
Size
3,466 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
18364
Building Details
Year built
1919
Floors in Building
2
Number of units
1
Flooring type
Tile
Building materials
Block, Masonry
Roof type
Flat
Listing Agency:
Kirin Real Estate LLC
(929) 460-0008
Listed By:
Irene Liang Chen
(929) 460-0008
Added: Jun 21, 2025
Changed: Aug 20
Last Checked: Aug 23 at 8:06AM
MLS# 493646
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-story commercial property includes three garages and was previously operated as an auto shop. The building dates to 1919 and features block and masonry construction, tile flooring, and a flat roof. M1-1 zoning is in place.
The property is located at 8234 18th Avenue in Brooklyn, adjacent to the D train and near shopping centers, 86th Street, and 18th Avenue. Its corner positioning provides direct exposure to surrounding activity and transit access.
The property is located at 8234 18th Avenue in Brooklyn, adjacent to the D train and near shopping centers, 86th Street, and 18th Avenue. Its corner positioning provides direct exposure to surrounding activity and transit access.
Key Highlights
- Three garages within a two‑story commercial building
- M1‑1 zoning supports the property’s industrial‑commercial classification
- Adjacent to the D train
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
$73,724
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
3.14%
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%
$1,474,480
$1.5M
Cap Rate 7%
$1,053,200
$1.1M
Cap Rate 9%
$819,156
$819.2K
Market Conditions
NOI Build-Up for 3,466 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
$108.1K $31.20/SF
− Vacancy
−$9.8K −$2.84/SF
EGI
$98.3K $28.36/SF
− OpEx
−$24.6K −$7.09/SF
NOI
$73.7K $21.27/SF
Area
ZIP 11214
Vacancy
9.10%
Lease Rate
$31.20 /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%
$1,474,480
Cap Rate 7%
$1,053,200
Cap Rate 9%
$819,156
Alternative Uses
Best Use
Specialty Retail
$1.05M
$921.6K – $1.23M
NOI $73,724 @ 7.0% cap · market cap 3.14%
Second Best
Retail
$890.4K
$779.1K – $1.04M
NOI $62,328 @ 7.0% cap · market cap 2.65%
Theoretical Best
Office A
$2.02M
$1.77M – $2.36M
NOI $141,533 @ 7.0% cap · market cap 6.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
4,325
Businesses Nearby
184k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 37%
Shops & Services 31%
Apparel 21%
Electronics 10%
Popeyes Louisiana Kitchen
Dining
24,696 visits/mo
0.3 miles
Gap
Apparel
16,630 visits/mo
0.4 miles
Bank of America
Shops & Services
15,565 visits/mo
0.4 miles
VIM
Apparel
13,470 visits/mo
0.3 miles
Chase Bank
Shops & Services
13,449 visits/mo
0.3 miles
Demographics for 11214, NY
96,560
Population
33,341
Households
2.9
Avg Household Size
39
Median Age
32%
College-Educated
76%
High-School Grad
2.0 sq mi
ZIP Area
48,280
Density / Sq Mi
$64,286
Median Household Income
$41,172
Median Earnings
$1,710
Median Rent
$1,007,400
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Wizard Wheels Inc — 2162 Bath Ave, Brooklyn, NY 11214
- Cropsey Tire Shop corp. — 1919 Cropsey Ave, Brooklyn, NY 11214
- Flash Services — 1979 Stillwell Ave, Brooklyn, NY 11223
- Bay Ridge Subaru Service — 1819 Cropsey Ave, Brooklyn, NY 11214
- TIRE SHOP — 2219 Bath Ave, Brooklyn, NY 11214
Frequently Asked Questions
What type of property is this?
Auto shop - M1-1-zoned commercial property with multiple garage bays and rail access along 18th Avenue.
Where is this auto shop located?
The property is located at 8234 18th Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,350,000.
What are key features of this property?
This property features: Three garages within a two‑story commercial building; M1‑1 zoning supports the property’s industrial‑commercial classification; Adjacent to the D train
