Brooklyn Warehouse with Multifamily
For Sale
Contact for pricing
2812 Harway Avenue, Brooklyn, NY 11214
Warehouse with R5 zoning, potential for multifamily conversion.
Property Size1,311 SF
Lot Size0.03 Acres
Price / SF$631.58
Days on Market921
Property Features for 2812 Harway Avenue
General Information
Standard status
Active
Size
1,311 SF
Lot size
0.03 Acres
Property subtype
Industrial, Retail, Office
Building Details
Units
1
Listing Agency:
Century 21 Service Realty
Listed By:
Karen Ng Mok · License #NY
Source:
Crexi
Added: Apr 17, 2024
Changed: Oct 1
Last Checked: Oct 24 at 2:41PM
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 Century 21 Service Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This property presents an investment opportunity in a convenient location, situated minutes from the Bay 50th Street train station. The lot measures 19x74 feet, totaling approximately 1,443 square feet. Zoned R5, the warehouse offers the potential for conversion into a multifamily building. Currently utilized as a storage facility, the storefront is reported to be in good condition. The property includes access to a small backyard and a separate entrance to a full basement from the street. The property size is 1,311 square feet.
Key Highlights
- R5 Zoning: Unlock the potential to convert this property into a multi‑family building.
- Excellent Location: Just minutes away from the Bay 50th Street train station.
- Investment Opportunity: A property suitable for a range of investment strategies.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,047
Cap Rate
3.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$640,940
$640.9K
Cap Rate 7%
$457,814
$457.8K
Cap Rate 9%
$356,078
$356.1K
Market Conditions
NOI Build-Up for 1,311 SF
Gross rent
$60.6K $46.20/SF
− Vacancy
−$2.3K −$1.76/SF
EGI
$58.3K $44.44/SF
− OpEx
−$26.2K −$20.00/SF
NOI
$32.0K $24.44/SF
Area
ZIP 11214
Vacancy
3.80%
Lease Rate
$46.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$640,940
Cap Rate 7%
$457,814
Cap Rate 9%
$356,078
Alternative Uses
Best Use
Apartment 5plus
$457.8K
$400.6K – $534.1K
NOI $32,047 @ 7.0% cap · market cap 3.87%
Second Best
Warehouse
$400.1K
$350.1K – $466.8K
NOI $28,007 @ 7.0% cap · market cap 3.38%
Theoretical Best
Office A
$764.8K
$669.2K – $892.2K
NOI $53,534 @ 7.0% cap · market cap 6.47%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,536
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11214, NY
96,560
Population
33,341
Households
2.9
Avg Household Size
39
Median Age
32%
College-Educated
76%
High-School Grad
2.0 sq mi
ZIP Area
48,280
Density / Sq Mi
$64,286
Median Household Income
$41,172
Median Earnings
$1,710
Median Rent
$1,007,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Northeast region
Similar Off Market Nearby
- CubeSmart Self Storage — 2990 Cropsey Ave, Brooklyn, NY 11214
- CubeSmart Self Storage of Brooklyn — 3068 Cropsey Ave, Brooklyn, NY 11224
- Storage cubesmart — 3024 cropsey ave, brooklyn, ny 11214
- Brooklyn Local Movers — 2814 W 8th St #8b, Brooklyn, NY 11224
- CubeSmart Self Storage — 2964 Shell Rd, Brooklyn, NY 11224
Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse with R5 zoning, potential for multifamily conversion.
Where is this warehouse located?
The property is located at 2812 Harway Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $828,000.
What are key features of this property?
This property features: R5 Zoning: Unlock the potential to convert this property into a multi‑family building.; Excellent Location: Just minutes away from the Bay 50th Street train station.; Investment Opportunity: A property suitable for a range of investment strategies.
