Two-Story Flex Space with Loading
For Sale
$6,999,000
Pending
857 Meeker Avenue, Brooklyn, NY 11222
Commercial Sale, Brooklyn, NY
Property Size10,038 SF
Lot Size0.27 Acres
Days on Market285
Property Features for 857 Meeker Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
M3-1
Parking features
Driveway
Standard status
Pending
APN
02694-0015
Lot size
0.27 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
64072
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Building Details
Year built
1931
Building materials
Brick
Listing Agency:
Winzone Realty Inc
(718) 899-7000
Listed By:
Margaret K. Klusek · License #40KL0877311
368
Added: Nov 24, 2025
Changed: Aug 19
Last Checked: Sep 5 at 1:06AM
MLS# 938752
Copyright © 2026 OneKey MLS. 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 vacant two-story brick flex property includes a first floor suited for heavy manufacturing and an office area on the second floor. The building has a cement floor, central air, a wet sprinkler system, and heavy three-phase electrical power. Three entry gates measuring 10 feet by 10 feet and two loading docks support access and material handling. The roof height is 29 feet, with 12 feet of ceiling clearance.
The corner property includes a paved side lot measuring 6,950 square feet on a 0.2743-acre parcel. Two street-access gates with dropped curbs connect to Meeker Avenue and Varick St. The property is zoned M3-1 and has public water and public sewer. As-built floor area totals 10,038 square feet, with 13,862 square feet of remaining buildable floor area. Built in 1931, the property can be delivered vacant.
The corner property includes a paved side lot measuring 6,950 square feet on a 0.2743-acre parcel. Two street-access gates with dropped curbs connect to Meeker Avenue and Varick St. The property is zoned M3-1 and has public water and public sewer. As-built floor area totals 10,038 square feet, with 13,862 square feet of remaining buildable floor area. Built in 1931, the property can be delivered vacant.
Key Highlights
- 10,038 square feet of as‑built floor area with 13,862 square feet of remaining buildable floor area
- First floor suited for heavy manufacturing; second floor includes office space
- Three entry gates measuring 10 feet by 10 feet plus two loading docks
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
$241,153
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
3.45%
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%
$4,823,060
$4.8M
Cap Rate 7%
$3,445,043
$3.4M
Cap Rate 9%
$2,679,478
$2.7M
Market Conditions
NOI Build-Up for 10,038 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
$421.6K $42.00/SF
− Vacancy
−$50.6K −$5.04/SF
EGI
$371.0K $36.96/SF
− OpEx
−$129.9K −$12.94/SF
NOI
$241.2K $24.02/SF
Area
Brooklyn, NY
Vacancy
12.00%
Lease Rate
$42.00 /SF/Yr
Expense Ratio
35.00%
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%
$4,823,060
Cap Rate 7%
$3,445,043
Cap Rate 9%
$2,679,478
Alternative Uses
Best Use
Flex RnD
$3.45M
$3.01M – $4.02M
NOI $241,153 @ 7.0% cap · market cap 3.45%
Second Best
Warehouse
$3.10M
$2.71M – $3.61M
NOI $216,845 @ 7.0% cap · market cap 3.10%
Theoretical Best
Specialty Retail
$8.31M
$7.27M – $9.70M
NOI $581,802 @ 7.0% cap · market cap 8.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12 ft
Clear height
2
Dock-high doors
3
Drive-in doors
Yes
Heavy power
Yes
Sprinkler system
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,078
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11222, NY
41,957
Population
21,917
Households
1.9
Avg Household Size
35
Median Age
65%
College-Educated
94%
High-School Grad
1.5 sq mi
ZIP Area
27,971
Density / Sq Mi
$123,963
Median Household Income
$74,237
Median Earnings
$2,595
Median Rent
$1,245,600
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Vacant brick flex property with heavy manufacturing capability, office space, and three-phase electrical service.
Where is this flex space located?
The property is located at 857 Meeker Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $6,999,000.
What are key features of this property?
This property features: 10,038 square feet of as‑built floor area with 13,862 square feet of remaining buildable floor area; First floor suited for heavy manufacturing; second floor includes office space; Three entry gates measuring 10 feet by 10 feet plus two loading docks
