Office Units with Cellar
For Sale
$1,390,000
C1-832 40th St, Brooklyn, NY 11203
Commercial condominium with a flexible first-floor and cellar configuration in a mixed-use building.
Property Size3,239 SF
Price / SF$429.14
Days on Market127
Property Features for C1-832 40th St
General Information
Standard status
Active
Size
3,239 SF
Additional Details
Floor
first floor and cellar
Public Transit
Yes
Office Units
1
Taxes and HOA fees
Annual Taxes
$3,662
Building Details
Year Built
2017
Listing Agency:
Tiger Realty
Listed By:
Hang (Tyler) Chen · License #HC3855
(917) 708-9966
Source:
Exprealty
Added: Jun 18
Changed: Oct 6
Last Checked: Oct 20 at 10:42PM
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 Tiger Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This office condominium combines the first floor and cellar of a mixed-use building completed in 2017. The property offers 3,239 SF in total, with 1,770 SF on the first floor and 1,469 SF below grade. Its adaptable arrangement is identified as suitable for medical offices, home healthcare services, educational programs, nonprofit organizations, senior centers, fitness or training facilities, and children's enrichment centers.
The property is located near the D train and B70 bus line, with restaurants, supermarkets, pharmacies, and other everyday services in the surrounding area. The commercial condominium is offered for sale and can support either owner occupancy or investment use, as described in the property information.
The property is located near the D train and B70 bus line, with restaurants, supermarkets, pharmacies, and other everyday services in the surrounding area. The commercial condominium is offered for sale and can support either owner occupancy or investment use, as described in the property information.
Key Highlights
- 3,239 SF commercial condominium combining first‑floor and cellar space
- 1,770 SF first floor plus 1,469 SF cellar
- Mixed‑use building completed in 2017
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$80,807
Cap Rate
5.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,616,140
$1.6M
Cap Rate 7%
$1,154,386
$1.2M
Cap Rate 9%
$897,856
$897.9K
Market Conditions
NOI Build-Up for 3,239 SF
Gross rent
$139.9K $43.20/SF
− Vacancy
−$32.2K −$9.94/SF
EGI
$107.7K $33.26/SF
− OpEx
−$26.9K −$8.32/SF
NOI
$80.8K $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 Rate 5%
$1,616,140
Cap Rate 7%
$1,154,386
Cap Rate 9%
$897,856
Alternative Uses
Best Use
Office B
$1.15M
$1.01M – $1.35M
NOI $80,807 @ 7.0% cap · market cap 5.81%
Second Best
Healthcare Medical
$1.07M
$938.7K – $1.25M
NOI $75,093 @ 7.0% cap · market cap 5.40%
Theoretical Best
Specialty Retail
$2.68M
$2.35M – $3.13M
NOI $187,732 @ 7.0% cap · market cap 13.51%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
5,033
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
Frequently Asked Questions
What type of property is this?
Office unit - Commercial condominium with a flexible first-floor and cellar configuration in a mixed-use building.
Where is this office unit located?
The property is located at C1-832 40th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,390,000.
What are key features of this property?
This property features: 3,239 SF commercial condominium combining first‑floor and cellar space; 1,770 SF first floor plus 1,469 SF cellar; Mixed‑use building completed in 2017
