Sunset Park Commercial Condos For
For Sale
$1,800,000
838 41st St CF1, Brooklyn, NY 11232
Newly built commercial condos suitable for various businesses.
Property Size2,100 SF
Price / SF$857.14
Days on Market105
Property Features for 838 41st St CF1
General Information
Standard status
Active
Size
2,100 SF
Property subtype
Commercial
Listing Agency:
Fang Fang Realty Inc
(718) 676-2518
Listed By:
XueFang (Sue) Li
(718) 676-2518
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Aug 6 at 6:42AM
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 Fang Fang Realty Inc
Investment Insights
Based on property information with market context.
Newly built commercial condos in Sunset Park are available for sale. The first floor and cellar are being sold as a package. The cellar provides 1800 square feet of space, while the first floor offers 2100 square feet. These spaces are suitable for various uses, including senior centers, home care companies, medical offices, training facilities, non-profit organizations, and children’s playgrounds. The location offers convenient transportation options, with the D train station and B70 bus stop located nearby. Additionally, the property is close to restaurants, supermarkets, and pharmacies. The location has a bike score of 69, indicating it is bikeable, a walk score of 94, designating it as a walker's paradise, and a transit score of 78, reflecting excellent transit options.
Key Highlights
- Prime location in Sunset Park suitable for various commercial uses.
- Newly built commercial condos being sold as a package (First Floor and Cellar).
- Spacious: 2100 SqFt First Floor and 1800 SqFt Cellar.
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
$52,391
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
2.91%
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%
$1,047,820
$1.0M
Cap Rate 7%
$748,443
$748.4K
Cap Rate 9%
$582,122
$582.1K
Market Conditions
NOI Build-Up for 2,100 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
$90.7K $43.20/SF
− Vacancy
−$20.9K −$9.94/SF
EGI
$69.9K $33.26/SF
− OpEx
−$17.5K −$8.32/SF
NOI
$52.4K $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%
$1,047,820
Cap Rate 7%
$748,443
Cap Rate 9%
$582,122
Alternative Uses
Best Use
Office B
$748.4K
$654.9K – $873.2K
NOI $52,391 @ 7.0% cap · market cap 2.91%
Second Best
Healthcare Medical
$695.5K
$608.6K – $811.4K
NOI $48,686 @ 7.0% cap · market cap 2.70%
Theoretical Best
Specialty Retail
$1.74M
$1.52M – $2.03M
NOI $121,716 @ 7.0% cap · market cap 6.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,549
Businesses Nearby
Under-served
Demand for This Use
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?
Medical Office Space - Newly built commercial condos suitable for various businesses.
Where is this medical office space located?
The property is located at 838 41st St CF1 Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Prime location in Sunset Park suitable for various commercial uses.; Newly built commercial condos being sold as a package (First Floor and Cellar).; Spacious: **2100 SqFt First Floor** and **1800 SqFt Cellar**.
