Brooklyn Retail Building with
For Sale
Contact for pricing
Pending
1245 Fulton St, Brooklyn, NY 11216
16,073 SF Brooklyn building with tax abatement.
Property Size16,073 SF
Days on Market1172
Property Features for 1245 Fulton St
General Information
Standard status
Pending
Size
16,073 SF
Class
A
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$750,000
Building Details
Year Renovated
2016
Stories
1
Units
1
Tenancy
Single
Listing Agency:
East Coast Realtors
(718) 428-2900
Listed By:
Tony Hack · License #NY 10301214951
Source:
Crexi
Added: Jun 7, 2023
Changed: Aug 14
Last Checked: Aug 20 at 2:02PM
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 East Coast Realtors
Investment Insights
Based on property information with market context.
The building offers approximately 16,073 square feet of space, with 7,860 square feet on the ground floor and 8,213 square feet in the lower level. A tax abatement is in place for 25 years, offering inflation protection for 10% of the building. The remaining 90% of the building benefits from a 15-year abatement schedule, also providing inflation protection.
Key Highlights
- 25‑year tax abatement offering inflation protection for 10% of the building.
- 15‑year tax abatement offering inflation protection for 90% of the building.
- Building size is approximately 16,073 SF.
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
$770,774
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
6.70%
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%
$15,415,480
$15.4M
Cap Rate 7%
$11,011,057
$11.0M
Cap Rate 9%
$8,564,156
$8.6M
Market Conditions
NOI Build-Up for 16,073 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
$1.25M $77.76/SF
− Vacancy
−$148.7K −$9.25/SF
EGI
$1.10M $68.51/SF
− OpEx
−$330.3K −$20.55/SF
NOI
$770.8K $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%
$15,415,480
Cap Rate 7%
$11,011,057
Cap Rate 9%
$8,564,156
Alternative Uses
Best Use
Retail
$11.01M
$9.63M – $12.85M
NOI $770,774 @ 7.0% cap · market cap 6.70%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$13.31M
$11.64M – $15.53M
NOI $931,591 @ 7.0% cap · market cap 8.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,299
Businesses Nearby
175k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 44%
Dining 27%
Groceries 21%
Apparel 6%
Shell
Shops & Services
29,804 visits/mo
0.1 miles
Urban Market by Key Food
Groceries
13,185 visits/mo
0.5 miles
McDonald's
Dining
12,482 visits/mo
0.2 miles
Bravo Supermarkets
Groceries
11,307 visits/mo
0.3 miles
Dunkin' Donuts
Dining
9,793 visits/mo
0.1 miles
Demographics for 11216, NY
61,251
Population
28,825
Households
2.1
Avg Household Size
34
Median Age
56%
College-Educated
91%
High-School Grad
1.0 sq mi
ZIP Area
61,251
Density / Sq Mi
$95,000
Median Household Income
$61,389
Median Earnings
$2,180
Median Rent
$1,398,400
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - 16,073 SF Brooklyn building with tax abatement.
Where is this retail space located?
The property is located at 1245 Fulton St Brooklyn, NY.
What is the asking price?
The asking price for this property is $11,500,000.
What are key features of this property?
This property features: 25‑year tax abatement offering inflation protection for 10% of the building.; 15‑year tax abatement offering inflation protection for 90% of the building.; Building size is approximately 16,073 SF.
