Brooklyn Retail/Warehouse
For Sale
Contact for pricing
949 Remsen Avenue, Brooklyn, NY 11236
East Flatbush retail/warehouse space for sale near transportation.
Property Size2,240 SF
Price / SF$669.64
Days on Market150
Property Features for 949 Remsen Avenue
General Information
Standard status
Active
Size
2,240 SF
Property subtype
Industrial
Zoning
M1-1
Investment Type
Owner/User
Building Details
Stories
2
Units
2
Listing Agency:
Tri State Commercial
(718) 437-6100
Listed By:
Shlomi Bagdadi · License #NY 10311204539
Source:
Crexi
Added: Mar 26
Changed: Aug 8
Last Checked: Aug 21 at 12:54PM
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 Tri State Commercial
Investment Insights
Based on property information with market context.
Located in the East Flatbush neighborhood of Brooklyn, between Foster Ave & Krier Pl, this property offers a strategic location with convenient access to the Belt Parkway. The area is well-served by public transportation, including the L train at Canarsie - Rockaway Pkwy and the B17, B60, & B8 bus lines. The property is surrounded by a diverse mix of commercial tenants, including Dunkin', Planet Fitness, Tropical Smoothie Cafe, PetSmart, Sunoco Gas Station, The Vitamin Shoppe, Dollar Tree, Wendy's, Popeyes Louisiana Kitchen, United States Postal Service, McDonald's, Blink Fitness, and TD Bank. The property, with a size of 2240 square feet, is suitable for retail or warehouse use.
Key Highlights
- Convenient location in East Flatbush, Brooklyn.
- Proximity to Belt Parkway.
- Close to multiple bus lines (B17, B60, & B8).
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
$107,418
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
7.16%
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%
$2,148,360
$2.1M
Cap Rate 7%
$1,534,543
$1.5M
Cap Rate 9%
$1,193,533
$1.2M
Market Conditions
NOI Build-Up for 2,240 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
$174.2K $77.76/SF
− Vacancy
−$20.7K −$9.25/SF
EGI
$153.5K $68.51/SF
− OpEx
−$46.0K −$20.55/SF
NOI
$107.4K $47.95/SF
Area
Brooklyn, NY
Vacancy
11.90%
Lease Rate
$77.76 /SF/Yr
Expense Ratio
30.00%
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%
$2,148,360
Cap Rate 7%
$1,534,543
Cap Rate 9%
$1,193,533
Alternative Uses
Best Use
Retail
$1.53M
$1.34M – $1.79M
NOI $107,418 @ 7.0% cap · market cap 7.16%
Second Best
Warehouse
$691.3K
$604.9K – $806.5K
NOI $48,389 @ 7.0% cap · market cap 3.23%
Theoretical Best
Specialty Retail
$1.85M
$1.62M – $2.16M
NOI $129,830 @ 7.0% cap · market cap 8.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,307
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11236, NY
100,687
Population
37,002
Households
2.7
Avg Household Size
40
Median Age
28%
College-Educated
88%
High-School Grad
3.6 sq mi
ZIP Area
27,969
Density / Sq Mi
$82,813
Median Household Income
$50,244
Median Earnings
$1,637
Median Rent
$710,300
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?
Warehouse - East Flatbush retail/warehouse space for sale near transportation.
Where is this warehouse located?
The property is located at 949 Remsen Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Convenient location in East Flatbush, Brooklyn.; Proximity to Belt Parkway.; Close to multiple bus lines (B17, B60, & B8).
