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    2715 15Th St Brooklyn, NY 11224
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    2715 15Th St, Brooklyn, NY 11224

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    • Refrigerated & Cold Storage
    • 28,000 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Banner Smoked Fish / Food Processing Plant

    Property Details for 2715 15Th St

    Property type
    Refrigerated & Cold Storage
    Property subtype
    Warehouses

    Description

    This exceptional investment opportunity comprises three contiguous industrial cold storage warehouses totaling 28,000 square feet on a 32,000+ square foot lot in Brooklyn's Coney Island. The properties, located at 2715 W 15th St, 2709 W 15th St, and 2688 Stillwell Ave, are zoned M1-2 Industrial and offer significant potential. Benefiting from a convenient location near the Belt Parkway, ensuring easy access to major transportation arteries, this portfolio presents a rare chance to acquire established cold storage facilities in a vibrant and historically rich neighborhood. Coney Island's unique blend of traditional amusement, beach recreation, and modern entertainment attracts both residents and tourists, creating a dynamic market. The properties are easily accessible via subway and ferry, further enhancing their appeal and logistical advantages. This package deal offers a substantial footprint for immediate use or redevelopment within a thriving Brooklyn community. The combined properties provide a significant square footage for various industrial uses, particularly benefiting businesses requiring refrigerated or cold storage capabilities. The substantial lot size also allows for potential expansion or future development opportunities. This is a unique opportunity to acquire a well-positioned industrial portfolio in a high-demand location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9832
    Latitude
    40.5814

    Comparable in this City

    • Value Estimation by Request
      33,500 SF

      Stillwell Ave

      Refrigerated & Cold Storage
      0 Stillwell Ave, Brooklyn, NY 11224
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    • Value Estimation
      $23,960,000
      140,805 SF

      2964 Shell Rd

      MINI-WAREHOUSE, STORAGE
      2964 Shell Rd, Brooklyn, NY 11224-3611
      View Details
    • Value Estimation
      $2,625,000
      9,500 SF

      2775 15th St

      WAREHOUSE, STORAGE
      2775 15th St, Brooklyn, NY 11224-2705
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    • Value Estimation
      $660,000
      2,125 SF

      2733 15th St

      WAREHOUSE, STORAGE
      2733 15th St, Brooklyn, NY 11224-2705
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    • Value Estimation
      $725,000
      2,370 SF

      1603 Neptune Ave

      WAREHOUSE, STORAGE
      1603 Neptune Ave, Brooklyn, NY 11224-2717
      View Details
    • Value Estimation by Request
      33,964 SF

      2702 15th St

      WAREHOUSE, STORAGE
      2702 15th St, Brooklyn, NY 11224
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      28,000 SF

      Coney Island Industrial Cold Storage

      Three industrial food processing warehouses totaling 28,000 SF on 32,000+ SF lot.
      2715 W 15Th St, Brooklyn, NY 11224
      View Details
    • Contact for pricing
      28,000 SF

      Brooklyn Warehouse Space Available

      28,000 sq ft warehouse space in Brooklyn for sale.
      2688 Stillwell Ave, Brooklyn, NY 11224
      View Details
    • Contact for pricing
      2,000 SF

      Refrigerated Industrial Building Available

      Industrial building with refrigeration and overhead gate for lease.
      2716 W 15Th St, Brooklyn, NY 11224
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    • $750,000
      1,560 SF

      Brooklyn Two-Family Brick Home

      Two-family brick home near transportation, shopping, and Coney Island.
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    Similar Nearby for Lease

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      6,000 SF

      Brooklyn Warehouse with High Visibility

      6,000 SF warehouse with high ceilings and great exposure.
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    • Contact for pricing

      Warehouse, Office and Outdoor Parking

      Brooklyn warehouse with office, parking, and high-traffic visibility.
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      2,000 SF

      Coney Island Retail Space Available

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      500 SF

      Brooklyn Office Space For Rent

      Office space in elevator building, close to subway lines.
      1906 Mermaid Ave, Brooklyn, NY 11224
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      1,500 SF

      Retail Space in Brooklyn Available

      Retail space for rent at 2412 Mermaid Ave, Brooklyn.
      2412 Mermaid Ave, Brooklyn, NY 11224
      View Details
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    2715 15Th St
    Brooklyn, NY 11224
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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