Auto Shop and Flex
For Sale
Contact for pricing
961 East 51st Street, Brooklyn, NY 11203
For sale auto shop/flex property offering a commercial setup for automotive-related uses in Brooklyn.
Property Size5,321 SF
Price / SF$432.25
Days on Market58
Property Features for 961 East 51st Street
General Information
Standard status
Active
Size
5,321 SF
Property subtype
Retail, Industrial
Zoning
M1-1
Building Details
Year Built
1968
Year Renovated
2023
Buildings
1
Units
2
Listing Agency:
Ben Bay Realty Co of SI
Listed By:
Joseph Znak · License #10401358660
Source:
Crexi
Added: Jun 15
Changed: Aug 8
Last Checked: Aug 11 at 6:16PM
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 Ben Bay Realty Co of SI
Investment Insights
Based on property information with market context.
This property is an automotive-oriented commercial building classified as an auto shop, with flex/industrial real estate fit for active business use. It is available for sale.
Located at 961 East 51st Street in Brooklyn, the property presents a straightforward option for owner-operators or buyers seeking a dedicated commercial space aligned with automotive services. The offering includes a total building size of 5,321 square feet.
Given its stated auto shop and flex space classification, the space may be suitable for tenants and buyers looking for a premises that can support automotive-related operations. For detailed configuration and unit layout, interested parties should review the property materials with their agent prior to underwriting or making an offer.
Located at 961 East 51st Street in Brooklyn, the property presents a straightforward option for owner-operators or buyers seeking a dedicated commercial space aligned with automotive services. The offering includes a total building size of 5,321 square feet.
Given its stated auto shop and flex space classification, the space may be suitable for tenants and buyers looking for a premises that can support automotive-related operations. For detailed configuration and unit layout, interested parties should review the property materials with their agent prior to underwriting or making an offer.
Key Highlights
- Auto shop/flex commercial property suited for automotive‑related uses
- Built in 1968
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
$127,832
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
5.56%
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%
$2,556,640
$2.6M
Cap Rate 7%
$1,826,171
$1.8M
Cap Rate 9%
$1,420,356
$1.4M
Market Conditions
NOI Build-Up for 5,321 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
$223.5K $42.00/SF
− Vacancy
−$26.8K −$5.04/SF
EGI
$196.7K $36.96/SF
− OpEx
−$68.8K −$12.94/SF
NOI
$127.8K $24.02/SF
Area
Brooklyn, NY
Vacancy
12.00%
Lease Rate
$42.00 /SF/Yr
Expense Ratio
35.00%
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%
$2,556,640
Cap Rate 7%
$1,826,171
Cap Rate 9%
$1,420,356
Alternative Uses
Best Use
Retail
$3.65M
$3.19M – $4.25M
NOI $255,166 @ 7.0% cap · market cap 11.09%
Second Best
Flex RnD
$1.83M
$1.60M – $2.13M
NOI $127,832 @ 7.0% cap · market cap 5.56%
Theoretical Best
Specialty Retail
$4.41M
$3.86M – $5.14M
NOI $308,405 @ 7.0% cap · market cap 13.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,165
Businesses Nearby
Well-served
Demand for This Use
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 Industrial in Northeast region
Questions? Ask Rey
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- Sun Dimension Auto — 1339 61st St, Brooklyn, NY 11219
- Beyond auto repair — 1329 61st St, Brooklyn, NY 11219
Frequently Asked Questions
What type of property is this?
Auto shop - For sale auto shop/flex property offering a commercial setup for automotive-related uses in Brooklyn.
Where is this auto shop located?
The property is located at 961 East 51st Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Auto shop/flex commercial property suited for automotive‑related uses; Built in 1968
