Mixed-Use Building with Bar and
1260 Myrtle Avenue Brooklyn, NY 11221
New
1260 Myrtle Avenue, Brooklyn, NY, 11221
$2,250,000
For Sale
$2,250,000
MULTI_FAMILY - Brooklyn, NY
Property Size4,359 SF
Lot Size0.04 Acres
Price / SF$516.17
Days on Market5
Property Features for 1260 Myrtle Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 8
- Bathrooms
- 5
- Rooms
- Bedroom 7, Bathroom 1, Bedroom 5, Bathroom 2, Bedroom 3, Bathroom 5, Bathroom 3, Bedroom 4, Bedroom 8, Bedroom 6, Bedroom 1, Bathroom 4, Bedroom 2
- Patio and Porch features
- Patio
- Standard status
- Active
- Size
- 4,359 SF
- Lot size
- 0.04 Acres
Taxes and HOA fees
- Tax Annual Amount
- 4694
Building Details
- Year built
- 1930
- Flooring type
- Hardwood
Listing Agency
EVERGREEN REALTY & INVESTMENTS
(646) 838-1378
5825 Myrtle Avenue Office 2A, RIDGEWOOD, NY
Listed by
Emma Barattini
(646) 838-1378
Added: Jul 13 Checked: Jul 17 at 2:06 am
MLS# 11883485
Listing URL
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 building is approximately 4,359 SF on a 29-foot-wide lot and is currently 100% occupied. The ground-floor space is an established bar/lounge with a stable commercial tenant on a long-term lease. Four renovated, free-market apartments are located above, and the residential units have a separate entrance for added privacy.
The property features second-floor access to an unused balcony with outdoor space potential. It is also a block-through configuration with separate rear street access for the residential units.
Located in the heart of Bushwick, the building is positioned near the Central Avenue M train and a short walk to the Myrtle Avenue J/M/Z station, with surrounding restaurants, cafes, nightlife, and neighborhood retail. Zoning is listed as R6 / C2-3, providing long-term flexibility.
The property features second-floor access to an unused balcony with outdoor space potential. It is also a block-through configuration with separate rear street access for the residential units.
Located in the heart of Bushwick, the building is positioned near the Central Avenue M train and a short walk to the Myrtle Avenue J/M/Z station, with surrounding restaurants, cafes, nightlife, and neighborhood retail. Zoning is listed as R6 / C2-3, providing long-term flexibility.
Key Highlights
- Approx. 4,359 SF mixed‑use building on a 29‑foot‑wide lot in Bushwick, 100% occupied.
- In‑place income highlighted by a 7.85% in‑place cap rate; Net Operating Income of $177,786 annually.
- 4 renovated free‑market apartments above an established bar/lounge, plus a stable ground‑floor commercial tenant on a long‑term lease.
Local Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $287.7k | $66.00 |
| − Vacancy | −$34.5k | −$7.92 |
| EGI | $253.2k | $58.08 |
| − OpEx | −$94.9k | −$21.78 |
| NOI | $158.2k | $36.30 |
4,359 SF · lease $66.00/SF/yr · vacancy 12.00% · expense 37.50%
Alternative Uses
Best Use
Specialty Retail
$3.61M
$3.16M – $4.21M
NOI $252,648 @ 7.0% cap · market cap 11.23%
Second Best
Mixed Use
$2.26M
$1.98M – $2.64M
NOI $158,232 @ 7.0% cap · market cap 7.03%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Mood Ring
Bar & Pub
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - A 4,359 SF, block-through building with a long-term leased ground-floor bar and four renovated apartments above.
Where is this quadplex located?
The property is located at 1260 Myrtle Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: Approx. 4,359 SF mixed‑use building on a 29‑foot‑wide lot in Bushwick, 100% occupied.; In‑place income highlighted by a 7.85% in‑place cap rate; Net Operating Income of $177,786 annually.; 4 renovated free‑market apartments above an established bar/lounge, plus a stable ground‑floor commercial tenant on a long‑term lease.
