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    254 Scholes St Brooklyn, NY 11206

    Sponsored
    For Sale
    $13,500,000

    Prime East Williamsburg warehouse, 27,500 SF, high NOI.

    Property size:
    27,500 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a fully leased, 27,500-square-foot warehouse property situated in the desirable East Williamsburg section of Brooklyn, New York. The property, located at 254 Scholes Street, zip code 11206, comprises seven contiguous lots boasting 150 feet of frontage on Scholes Street and 125 feet on Meserole Street. Currently occupied by Pay-O-Matic Corp. under a triple-net (NNN) lease, the property generates a substantial net operating income (NOI) of $409,772 annually, with a 3% annual rent escalation clause. The existing lease expires November 30, 2024, but includes a valuable five-year option for the tenant commencing December 2024. The property features three existing warehouse buildings: one 10,000 square feet with an additional 2,500 square feet on a second floor

    Property Features for 254 Scholes St

    General Information

    Property type
    Distribution properties
    Square Feet
    27,500 SF

    HighLights

    • Fully leased 27,500 SF warehouse in desirable East Williamsburg, Brooklyn.
    • Triple‑net (NNN) lease with $409,772 annual NOI and 3% annual rent escalations.
    • Lease expires November 2024, with a five‑year tenant option.
    • Property can be delivered vacant.
    Property Profile Location Intelligence

    Current Use by Public Records

    Distribution centers

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9383242
    Latitude
    40.7089436

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    FAQs

    What type of property is this?
    Distribution property - Prime East Williamsburg warehouse, 27,500 SF, high NOI.
    Where is this distribution property located?
    The property is located at 254 Scholes St Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $13,500,000.
    What are key features of this property?
    This property features: Fully leased 27,500 SF warehouse in desirable East Williamsburg, Brooklyn.; Triple-net (NNN) lease with $409,772 annual NOI and 3% annual rent escalations.; Lease expires November 2024, with a five-year tenant option.
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    254 Scholes St Brooklyn, NY 11206
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