Office Units in Mixed-Use
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 Market91
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: Sep 7
Last Checked: Sep 16 at 10:06PM
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.
Investment Insights
Based on property information with market context.
This commercial condominium comprises 3,239 square feet across two levels: 1,770 square feet on the first floor and 1,469 square feet in the cellar. The space is located within a brick mixed-use building completed in 2017 and includes a flat roof. Its configuration supports office-oriented occupancy and a range of community-serving functions described for the property, including medical, educational, nonprofit, senior, fitness, and enrichment uses.
The property is at 832 40th Street in Brooklyn's Sunset Park area, near the D train and B70 bus line. Restaurants, supermarkets, pharmacies, and other daily-service businesses are located in the surrounding area. The property carries R6 zoning and is offered as a commercial condominium.
The property is at 832 40th Street in Brooklyn's Sunset Park area, near the D train and B70 bus line. Restaurants, supermarkets, pharmacies, and other daily-service businesses are located in the surrounding area. The property carries R6 zoning and is offered as a commercial condominium.
Key Highlights
- 3,239 SF commercial condominium with 1,770 SF on the first floor and 1,469 SF in the cellar
- Located in a mixed‑use building built in 2017
- Brick construction with a flat roof
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
$80,807
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
5.81%
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%
$1,616,140
$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
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
$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 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%
$1,616,140
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 5.81%
Second Best
Healthcare Medical
$1.07M
$938.7K – $1.25M
NOI $75,093 @ 7.0% cap · market cap 5.40%
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.
Property Analytics
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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
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Office units - Commercial condominium spanning first-floor and cellar levels within a 2017 mixed-use building.
Where is this office units 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 SF commercial condominium with 1,770 SF on the first floor and 1,469 SF in the cellar; Located in a mixed‑use building built in 2017; Brick construction with a flat roof
