Two-Level Retail
For Sale
$1,390,000
832 40th Street, Brooklyn, NY 11232
Commercial, Brooklyn, NY
Property Size3,239 SF
Lot Size0.58 Acres
Price / SF$429.14
Days on Market142
Property Features for 832 40th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R6
Subdivision
Sunset Park
Standard status
Active
Size
3,239 SF
Lot size
0.58 Acres
Taxes and HOA fees
Tax Annual Amount
3662
Building Details
Year built
2017
Floors in Building
5
Building materials
Brick
Roof type
Flat
Listing Agency:
Tiger Realty
Listed By:
Hang (Tyler) Chen · License #HC3855
(917) 708-9966
Added: Jun 18
Changed: Nov 4
Last Checked: Nov 6 at 5:06AM
MLS# 502421
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 retail condominium occupies the first floor and cellar of a brick mixed-use building constructed in 2017. The combined space totals approximately 3,239 square feet, divided between 1,770 square feet on the first floor and 1,469 square feet below grade. Zoning is R6. The layout is described as adaptable for medical services, education, nonprofit organizations, fitness and training, and other community uses.
The property is near the D train and B70 bus line. Restaurants, supermarkets, pharmacies, and other everyday services are part of the surrounding neighborhood. The offering includes both levels as a single commercial condominium.
The property is near the D train and B70 bus line. Restaurants, supermarkets, pharmacies, and other everyday services are part of the surrounding neighborhood. The offering includes both levels as a single commercial condominium.
Key Highlights
- 3,239 square feet across the first floor and cellar
- First floor: 1,770 square feet; cellar: 1,469 square feet
- Brick mixed‑use building completed in 2017
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$80,807
Cap Rate
5.81%
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
Retail
$2.22M
$1.94M – $2.59M
NOI $155,325 @ 7.0% cap · market cap 11.17%
Second Best
Office B
$1.15M
$1.01M – $1.35M
NOI $80,807 @ 7.0% cap · market cap 5.81%
Theoretical Best
Specialty Retail
$2.68M
$2.35M – $3.13M
NOI $187,732 @ 7.0% cap · market cap 13.51%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
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
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Retail space - The offering combines street-level space with a cellar in a mixed-use building completed in 2017.
Where is this retail space located?
The property is located at 832 40th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,390,000.
What are key features of this property?
This property features: 3,239 square feet across the first floor and cellar; First floor: 1,770 square feet; cellar: 1,469 square feet; Brick mixed‑use building completed in 2017
