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Financial
Distress signals
Property profile

2902 W 37Th St Brooklyn, NY 11224

FOR SALE
Auto shops
Property ID
US63-0018610
10,000 SF 0.37 ac lot Built 1950
Entity Owned 9-yr Hold Free & Clear
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For Sale
Contact for pricing 10,000 SF
2902 W 37Th St, Brooklyn, NY 11224
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Property summary

AI-generated overview

This exceptional 10,000 square foot single-tenant industrial property at 2902 West 37th Street in Brooklyn, NY (zip code 11224) presents a unique investment opportunity. The building features a 10,000 square foot warehouse space with an additional 6,000 square feet of parking, ideal for a variety of uses. The warehouse boasts ceiling heights ranging from 18 to 30 feet and includes three convenient drive-in bays. The property is zoned R3-1, C1-2, offering flexibility for diverse business ventures. Its unique architectural features include a dome roof. This prime location in Brooklyn offers unparalleled access to a thriving community and significant tourist traffic, situated near Coney Island's iconic attractions including the New York Aquarium, Luna Park, Ford Amphitheater, MCU Park, and Nathan's Famous. The area is experiencing substantial growth, with approximately 66 rental properties (4,028 units) and 50 condominium properties (1,061 units) currently in various stages of planning or construction. This presents a compelling opportunity for businesses seeking to establish themselves in a dynamic and rapidly developing neighborhood. The property's size and amenities make it suitable for a wide range of uses, including retail, auto repair, restaurants, medical facilities, and more. The APN is 7031-18.

Property profile

Verified
Property type Auto shops
Use group AUTO REPAIR, GARAGE
Year built 1950
Total area 10,000 SF
Lot 0.37 ac (16,000 SF)
Zoning code R3-1
APN 07031-0018
UPID US63-0018610

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Electronics & Wireless Store
  • Business To Business Service

Location

2902 W 37Th St Brooklyn, NY 11224
Brooklyn metro Census 33600 NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$590k

Owner & transaction history

since 2016
4 recorded transactions
2016
$3.4M
2016
Price N/A
2004
$1.2M
1969
Price N/A

Zoning & alternative use

R3-1 · Brooklyn, NY

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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