Newly Built Office Condo
For Sale
$1,420,000
C2-832 40th St, Brooklyn, NY 11203
First-floor and cellar commercial condominium spaces support office, medical, training, and community-oriented uses.
Property Size3,239 SF
Price / SF$438.41
Days on Market968
Property Features for C2-832 40th St
General Information
Standard status
Active
Size
3,239 SF
Taxes and HOA fees
Annual Taxes
$8,544
Listing Agency:
Fang Fang Realty Inc
Listed By:
XueFang (Sue) Li
(718) 676-2518
Source:
Exprealty
Added: Feb 23, 2024
Changed: Oct 3
Last Checked: Oct 16 at 12:16PM
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 Fang Fang Realty Inc
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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 newly built commercial condominium offering combines a first-floor unit with a cellar and is being offered as one package. The first floor contains 1,770 square feet, while the cellar provides 1,469 square feet, for a combined 3,239 square feet. The configuration supports a range of office and service-oriented applications, including medical offices, home care companies, training facilities, senior centers, nonprofit organizations, and children’s playgrounds.
The property is in Sunset Park, Brooklyn, with transportation access near the D train station and B70 bus stop. Restaurants, supermarkets, and pharmacies are located nearby, adding convenience for occupants and visitors.
The property is in Sunset Park, Brooklyn, with transportation access near the D train station and B70 bus stop. Restaurants, supermarkets, and pharmacies are located nearby, adding convenience for occupants and visitors.
Key Highlights
- 3,239‑square‑foot commercial condominium package
- First‑floor unit contains 1,770 square feet
- Cellar provides 1,469 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$80,807
Cap Rate
5.69%
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 5.69%
Second Best
Healthcare Medical
$1.07M
$938.7K – $1.25M
NOI $75,093 @ 7.0% cap · market cap 5.29%
Theoretical Best
Specialty Retail
$2.68M
$2.35M – $3.13M
NOI $187,732 @ 7.0% cap · market cap 13.22%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
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 units - First-floor and cellar commercial condominium spaces support office, medical, training, and community-oriented uses.
Where is this office units located?
The property is located at C2-832 40th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,420,000.
What are key features of this property?
This property features: 3,239‑square‑foot commercial condominium package; First‑floor unit contains 1,770 square feet; Cellar provides 1,469 square feet
