Canarsie Auto Mechanic Shop For
For Sale
$660,000
Pending
992 Remsen Ave, Brooklyn, NY 11236
Established auto mechanic shop with building for sale in Brooklyn.
Property Size1,700 SF
Lot Size1.04 Acres
Days on Market158
Property Features for 992 Remsen Ave
General Information
Standard status
Pending
Size
1,700 SF
Lot size
1.04 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$9,531
Building Details
Building Size
1,700 SF
Stories
1
Listing Agency:
BROOKLYN REAL PROPERTY INC
(718) 713-6888
Listed By:
Jean Paul Ho
Source:
Elliman
Added: Mar 11
Changed: Aug 8
Last Checked: Aug 8 at 6:23AM
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 BROOKLYN REAL PROPERTY INC
Investment Insights
Based on property information with market context.
Located in the busy retail corridor of Remsen Avenue in Canarsie, Brooklyn, this is a fully detached, free-standing brick building that has been an established auto mechanic shop for 50 years. Built in 1950, the property is available as a building and business package. The sale includes three lifts, an oil tank, and all fixtures and tools, presenting a turnkey opportunity. The building can be purchased with or without the existing business. All tools and personal items can be removed at closing or remain at no extra cost. The property offers potential for conversion to warehouse, office, or other uses. It features a 14 ft ceiling, a half bath, and a private front driveway that can accommodate four cars. The building measures 20 ft x 82 ft and is situated on a 21.58 ft x 100 ft lot with R4-1 zoning. The location is near BJ's Wholesale Club, shopping, and buses.
Key Highlights
- High‑traffic, highly visible location on Remsen Avenue in Canarsie.
- Turnkey opportunity: Includes established auto mechanic business, 3 lifts, oil tank, fixtures, and tools.
- Free‑standing, fully detached brick building with flexible R4‑1 zoning allowing for warehouse, office, or other uses.
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
$29,176
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
4.42%
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%
$583,520
$583.5K
Cap Rate 7%
$416,800
$416.8K
Cap Rate 9%
$324,178
$324.2K
Market Conditions
NOI Build-Up for 1,640 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
$43.7K $26.64/SF
− Vacancy
−$2.0K −$1.23/SF
EGI
$41.7K $25.41/SF
− OpEx
−$12.5K −$7.62/SF
NOI
$29.2K $17.79/SF
Area
Brooklyn, NY
Vacancy
4.60%
Lease Rate
$26.64 /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%
$583,520
Cap Rate 7%
$416,800
Cap Rate 9%
$324,178
Alternative Uses
Best Use
Retail
$1.12M
$983.1K – $1.31M
NOI $78,646 @ 7.0% cap · market cap 11.92%
Second Best
Industrial
$416.8K
$364.7K – $486.3K
NOI $29,176 @ 7.0% cap · market cap 4.42%
Theoretical Best
Specialty Retail
$1.36M
$1.19M – $1.58M
NOI $95,054 @ 7.0% cap · market cap 14.40%
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
361k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 40%
Superstores 33%
Dining 16%
Groceries 10%
BJ's Wholesale Club
Superstores
120,868 visits/mo
0.2 miles
Dollar Tree
Shops & Services
35,330 visits/mo
0.2 miles
Wendy's
Dining
24,532 visits/mo
0.3 miles
Gitto Farmer's Market
Groceries
22,786 visits/mo
0.3 miles
Mobil
Shops & Services
18,966 visits/mo
0.5 miles
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 Retail in Northeast region
Questions? Ask Rey
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- MACH 1 AUTO REPAIR — 920 E 54th St, Brooklyn, NY 11234
Frequently Asked Questions
What type of property is this?
Auto shop - Established auto mechanic shop with building for sale in Brooklyn.
Where is this auto shop located?
The property is located at 992 Remsen Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $660,000.
What are key features of this property?
This property features: High‑traffic, highly visible location on Remsen Avenue in Canarsie.; Turnkey opportunity: Includes established auto mechanic business, 3 lifts, oil tank, fixtures, and tools.; Free‑standing, fully detached brick building with flexible R4‑1 zoning allowing for warehouse, office, or other uses.
