New Office Condo
832 40th Street, Brooklyn, NY 11232
For Sale
$1,420,000
Commercial, Brooklyn, NY
Property Size3,239 SF
Lot Size0.06 Acres
Price / SF$438.41
Days on Market991
Property Features for 832 40th Street
General Information
Property type
Property subtype
Zoning
Basement
Subdivision
Standard status
Size
Lot size
Taxes and HOA fees
Tax Annual Amount
Building Details
Floors in Building
Number of units
Listing Agency:
Fang Fang Realty Inc
Listed By:
XueFang (Sue) Li
(718) 676-2518
Added: Feb 23, 2024
Changed: Oct 13
Last Checked: Nov 9 at 10:06AM
MLS# 480066
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.
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Investment Insights
Based on property information with market context.
This newly built office condominium offering combines a first-floor commercial unit with the cellar below. The first floor measures 1770 SqFt, while the cellar provides 1469 SqFt, for a combined property size of 3239 Square Feet. The spaces are identified as suitable for senior centers, home care companies, medical offices, training facilities, nonprofit organizations, and children’s playgrounds.
The property is near a D train station and the B70 bus stop, with restaurants, supermarkets, and pharmacies in the surrounding area. R6 zoning applies to the property, and the first-floor and cellar components are being sold together as one package.
The property is near a D train station and the B70 bus stop, with restaurants, supermarkets, and pharmacies in the surrounding area. R6 zoning applies to the property, and the first-floor and cellar components are being sold together as one package.
Key Highlights
- First‑floor and cellar units offered together as one package
- First floor measures 1770 SqFt
- Cellar measures 1469 SqFt
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$80,807
Cap Rate
5.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,616,140
$1.6M
Cap Rate 7%
$1,154,386
$1.2M
Cap Rate 9%
$897,856
$897.9K
Market Conditions
NOI Build-Up for 3,239 SF
Gross rent
$139.9K $43.20/SF
− Vacancy
−$32.2K −$9.94/SF
EGI
$107.7K $33.26/SF
− OpEx
−$26.9K −$8.32/SF
NOI
$80.8K $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 Rate 5%
$1,616,140
Cap Rate 7%
$1,154,386
Cap Rate 9%
$897,856
Alternative Uses
Best Use
Office B
$1.15M
$1.01M – $1.35M
NOI $80,807 @ 7.0% cap · market cap 5.69%
Second Best
Healthcare Medical
$1.07M
$938.7K – $1.25M
NOI $75,093 @ 7.0% cap · market cap 5.29%
Theoretical Best
Specialty Retail
$2.68M
$2.35M – $3.13M
NOI $187,732 @ 7.0% cap · market cap 13.22%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
4,588
Businesses Nearby
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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
$782,500
Median Home Value
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Market
Average Price Trend$/SF for Office Units in Brooklyn, NY
Properties on Market for Office Units in Brooklyn
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - First-floor and cellar spaces are offered together with R6 zoning and convenient access to nearby transit.
Where is this office unit located?
The property is located at 832 40th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,420,000.
What are key features of this property?
This property features: First‑floor and cellar units offered together as one package; First floor measures 1770 SqFt; Cellar measures 1469 SqFt
