Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    The Largest CRE Database in the US with Over 1 Million Listings

    168 7th St Brooklyn, NY 11215

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Transformed industrial factory into modern creative space in Brooklyn.

    Type:Retail, Office
    Added:
    Jun 4, 2024
    Days on Market:
    696
    Last Refresh:
    Mar 17 at 1:18 pm

    Property Features for 168 7th St

    General Information

    Standard status
    Active
    Property subtype
    Retail, Office

    Spaces For Lease

    at 168 7th St Contact us

    Unit 3B $36 /Mo

    Size
    2,415 SF
    Type
    Office, Retail
    Contact us

    Unit 2D $36 /Mo

    Size
    1,100 SF
    Type
    Office, Retail
    Contact us

    We can help!

    Listing Contact
    Mitchell Schwartz

    Listing agent Mitchell Schwartz License #NY 0000

    Listing office 293 Church Realty LLC

    Listing date Jun 4, 2024

    Source Crexi

    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 293 Church Realty LLC

    Overview

    Creative Office or Retail Space

    Located in Gowanus, at the epicenter of Park Slope, Downtown Brooklyn, Brooklyn Heights, Cobble Hill, Carroll Gardens, and Sunset Park, this property is situated in Brooklyn's innovative and creative hub. The building is a heavy timber industrial factory that has been transformed into a modern, creative Class A office or retail building, retaining its original charm and authenticity.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Alouette Inc Advertising Agency Lindsay Rae Design (Bike/Boat/Book/etc) Store Ibeam Brooklyn Tutoring Service Spacestation Media Distribution EL STUDIO Architecture Firm

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.991176
    Latitude
    40.672976

    Nearby Similar for Lease

    • $6,900/Mo

      Versatile Greenwood Heights Commercial Space

      Expansive 2,700 SF commercial space in Greenwood Heights, Brooklyn.
      663 3rd Avenue, Brooklyn, NY 11232
      View Details
    • $3,500/Mo

      Turn-Key Dental Office in Brooklyn

      Fully equipped dental office with existing business in Bay Ridge.
      14 Bay Ridge Place, Brooklyn, NY 11209
      View Details
    • $4,500/Mo

      Brooklyn Medical Office with Parking

      Functional medical office in Bay Ridge with parking.
      364 97th Street unit: 1, Brooklyn, NY 11209
      View Details
    • $5,000/Mo

      Brooklyn Retail/Office/Restaurant Space Available

      1000 SF retail space suitable for various businesses.
      9010 Avenue A, Brooklyn, NY 11236
      View Details
    • $16,000/Mo

      Brooklyn Office Space For Lease

      6,000 SF office space in Sunset Park, Brooklyn.
      813 63rd Street unit: 2Fl, Brooklyn, NY 11220
      View Details
    • $4,500/Mo

      Brooklyn Storefront with Backyard

      Versatile commercial space with basement and private backyard.
      2372 McDonald Avenue, Brooklyn, NY 11223
      View Details
    • $39,000 SF/Yr

      Prime Bensonhurst Commercial Space Available

      Massive commercial space in high-traffic area, suitable for diverse uses.
      1857 86th Street, Brooklyn, NY 11214
      View Details
    • $2,950/Mo

      Brooklyn Medical Office Space Available

      Professional office space in Bay Ridge, Brooklyn with flexible layout.
      8314 4th Avenue, Brooklyn, NY 11209
      View Details
    • $4,950/Mo

      Professional Office Space in Brooklyn

      High-end, ready-to-move-in office space near Kings Highway.
      1718 E 17th Street, Brooklyn, NY 11229
      View Details
    • $10,000/Mo

      Sunset Park Commercial Space Available

      Spacious 3,100 sq ft commercial space in Sunset Park.
      843 52nd Street unit: Ll, Brooklyn, NY 11220
      View Details
    • $6,200/Mo

      Renovated Office Space in Brooklyn

      Renovated 2600 sq ft office suitable for various uses.
      1046 E 15th Street, Brooklyn, NY 11230
      View Details
    • $5,500/Mo

      Renovated Corner Storefront in Brooklyn

      Prime, renovated corner property suitable for retail, office, or showroom.
      148 Tompkins Ave, BROOKLYN, NY 11207
      View Details

    FAQs

    What type of property is this?
    Office building - Transformed industrial factory into modern creative space in Brooklyn.
    Where is this office building located?
    The property is located at 168 7th St Brooklyn, NY.
    What are key features of this property?
    This property features: Prime location at the epicenter of multiple desirable Brooklyn neighborhoods (Park Slope, Downtown Brooklyn, Brooklyn Heights, Cobble Hill, Carrol Gardens, and Sunset Park).; Transformed industrial factory suitable for Class A office or retail use.; Modernized building with retained charm and authenticity.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Mitchell Schwartz
    Real Estate License ID: NY 0000
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!