Brooklyn Community Facility Condo For
For Sale
Contact for pricing
401 Rutland Rd, Brooklyn, NY 11203
1,779 SF community facility condo in Prospect Lefferts Gardens.
Property Size1,779 SF
Price / SF$446.88
Days on Market1551
Property Features for 401 Rutland Rd
General Information
Standard status
Active
Size
1,779 SF
Total Parking Spaces
2
Property subtype
Retail, Office
Building Details
Stories
6
Units
2
Listing Agency:
Premiere Property Group, LLC
Listed By:
Shawn Sadaghati · License #NY
(917) 796-7475
Source:
Crexi
Added: Jun 10, 2022
Changed: Aug 22
Last Checked: Sep 7 at 11:19AM
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 Premiere Property Group, LLC
Investment Insights
Based on property information with market context.
A 1,779 square-foot community facility condominium unit is available for purchase at 401 Rutland Road in Prospect Lefferts Gardens, Brooklyn. The unit includes two indoor parking spaces and is composed of 705 square feet on the ground floor and 1,074 square feet on the lower level. The unit is directly metered. The space is located at the base of a newly constructed six-story luxury condominium building. The corner property is situated at the intersection of Rutland Road and New York Avenue, providing exposure on both streets. It is located within a few blocks of the Kings County Hospital Center, Kingsbrook Jewish Medical Center, and the NYC Health + Hospitals/McKinney Nursing Home. The commercial unit is situated one block from Nostrand Avenue, a commercial strip with restaurants and stores and access to the 2-5 subway lines. Additionally, the asset is in proximity to Prospect Park and Wingate Park.
Key Highlights
- Located in a high‑visibility corner location at the intersection of Rutland Road and New York Avenue.
- Features two indoor parking spaces.
- Situated at the base of a newly constructed luxury condominium building.
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
$44,382
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
5.58%
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%
$887,640
$887.6K
Cap Rate 7%
$634,029
$634.0K
Cap Rate 9%
$493,133
$493.1K
Market Conditions
NOI Build-Up for 1,779 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
$76.9K $43.20/SF
− Vacancy
−$17.7K −$9.94/SF
EGI
$59.2K $33.26/SF
− OpEx
−$14.8K −$8.32/SF
NOI
$44.4K $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%
$887,640
Cap Rate 7%
$634,029
Cap Rate 9%
$493,133
Alternative Uses
Best Use
Retail
$1.22M
$1.07M – $1.42M
NOI $85,311 @ 7.0% cap · market cap 10.73%
Second Best
Office B
$634.0K
$554.8K – $739.7K
NOI $44,382 @ 7.0% cap · market cap 5.58%
Theoretical Best
Specialty Retail
$1.47M
$1.29M – $1.72M
NOI $103,111 @ 7.0% cap · market cap 12.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,204
Businesses Nearby
Explore this area
Business Placement
Demographics for 11203, NY
81,824
Population
33,434
Households
2.4
Avg Household Size
41
Median Age
26%
College-Educated
88%
High-School Grad
2.1 sq mi
ZIP Area
38,964
Density / Sq Mi
$68,028
Median Household Income
$47,302
Median Earnings
$1,566
Median Rent
$677,700
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?
Retail space - 1,779 SF community facility condo in Prospect Lefferts Gardens.
Where is this retail space located?
The property is located at 401 Rutland Rd Brooklyn, NY.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Located in a high‑visibility corner location at the intersection of Rutland Road and New York Avenue.; Features two indoor parking spaces.; Situated at the base of a newly constructed luxury condominium building.
