Corner Mixed-Use
For Sale
$2,988,000
1135 Flatbush Ave, Brooklyn, NY 11226
Commercial Sale, Brooklyn, NY
Property Size4,410 SF
Lot Size0.05 Acres
Price / SF$677.55
Days on Market88
Property Features for 1135 Flatbush Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
7
Full bathrooms
7
Rooms
Bathroom 3, Bathroom 5, Bathroom 4, Bathroom 2, Bathroom 1, Bathroom 6, Bathroom 7
Subdivision
Flatbush
Standard status
Active
Size
4,410 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
31892
Building Details
Floors in Building
3
Listing Agency:
5 BORO REALTY CORP
(917) 705-0005
Listed By:
Nina Sabag · License #10311207532
855-305-DEAL
Added: Jun 10
Changed: Sep 5
Last Checked: Sep 5 at 4:06PM
MLS# 11816802
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use property at 1135 Flatbush Avenue occupies a 2,110 SF corner lot and contains approximately 4,410 SF of existing space. The building includes 3 commercial spaces and 4 residential apartments, combining storefront activity with multifamily occupancy. Southeast corner exposure adds frontage along the Flatbush Avenue corridor.
The property is zoned R7A / C2-4 and has a current FAR of 2.09. Maximum buildable area is 8,440 SF, leaving documented development capacity beyond the existing structure. Its Brooklyn location provides access to a commercial corridor with retail and residential uses in the surrounding area.
The property is zoned R7A / C2-4 and has a current FAR of 2.09. Maximum buildable area is 8,440 SF, leaving documented development capacity beyond the existing structure. Its Brooklyn location provides access to a commercial corridor with retail and residential uses in the surrounding area.
Key Highlights
- 3 commercial spaces and 4 residential apartments
- 2,110 SF corner lot on Flatbush Avenue
- Approximately 4,410 SF of existing building area
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
$103,385
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
3.46%
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%
$2,067,700
$2.1M
Cap Rate 7%
$1,476,929
$1.5M
Cap Rate 9%
$1,148,722
$1.1M
Market Conditions
NOI Build-Up for 4,410 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
$195.8K $44.40/SF
− Vacancy
−$7.8K −$1.78/SF
EGI
$188.0K $42.62/SF
− OpEx
−$84.6K −$19.18/SF
NOI
$103.4K $23.44/SF
Area
ZIP 11226
Vacancy
4.00%
Lease Rate
$44.40 /SF/Yr
Expense Ratio
45.00%
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%
$2,067,700
Cap Rate 7%
$1,476,929
Cap Rate 9%
$1,148,722
Alternative Uses
Best Use
Apartment 5plus
$1.48M
$1.29M – $1.72M
NOI $103,385 @ 7.0% cap · market cap 3.46%
Second Best
Mixed Use
$1.40M
$1.22M – $1.63M
NOI $97,902 @ 7.0% cap · market cap 3.28%
Theoretical Best
Office A
$2.18M
$1.91M – $2.54M
NOI $152,579 @ 7.0% cap · market cap 5.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
5,157
Businesses Nearby
Explore this area
Business Placement
Demographics for 11226, NY
101,727
Population
42,618
Households
2.4
Avg Household Size
37
Median Age
36%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
78,252
Density / Sq Mi
$81,084
Median Household Income
$49,892
Median Earnings
$1,751
Median Rent
$866,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Flatbush Avenue asset combines commercial frontage with residential apartment income and additional development capacity.
Where is this mixed-use property located?
The property is located at 1135 Flatbush Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,988,000.
What are key features of this property?
This property features: 3 commercial spaces and 4 residential apartments; 2,110 SF corner lot on Flatbush Avenue; Approximately 4,410 SF of existing building area
