Three-Unit Mixed-Use
For Sale
$1,400,000
1692 Flatbush Ave, Brooklyn, NY 11210
Commercial Sale, Brooklyn, NY
Property Size2,760 SF
Lot Size0.02 Acres
Price / SF$507.25
Days on Market90
Property Features for 1692 Flatbush Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Mixed Use
Subdivision
Midwood
Standard status
Active
Size
2,760 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Annual Amount
7554
Utilities
Heating system
Baseboard, Natural Gas
Water source
Public
Building Details
Year built
1920
Floors in Building
3
Listing Agency:
5 BORO REALTY CORP
(917) 705-0005
Listed By:
Nina Sabag · License #10311207532
855-305-DEAL
Added: Jun 8
Changed: Sep 5
Last Checked: Sep 5 at 6:06PM
MLS# 11803053
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 three-unit mixed-use building contains a vacant commercial storefront at street level and two residential apartments on the floors above. The property measures 2,760 square feet and offers a combination of retail and residential space within one structure. The ground-floor area is delivered vacant, while the apartments provide existing residential occupancy and income. Building systems include natural gas and baseboard heating, with public water service. Constructed in 1920, the property presents a compact mixed-use configuration suited to an owner-user or investor seeking both commercial and residential components.
The building fronts Flatbush Avenue in Brooklyn and includes 19'10" of storefront frontage. Multiple bus lines are located at the property, supporting access to the retail space and residences. Its location directly on the avenue places the storefront within an active retail corridor.
The building fronts Flatbush Avenue in Brooklyn and includes 19'10" of storefront frontage. Multiple bus lines are located at the property, supporting access to the retail space and residences. Its location directly on the avenue places the storefront within an active retail corridor.
Key Highlights
- 2,760‑square‑foot mixed‑use building with three total units
- Vacant ground‑floor commercial space offers immediate leasing or owner‑user flexibility
- Two residential apartments provide existing residential income
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
$100,188
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
7.16%
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%
$2,003,760
$2.0M
Cap Rate 7%
$1,431,257
$1.4M
Cap Rate 9%
$1,113,200
$1.1M
Market Conditions
NOI Build-Up for 2,760 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
$182.2K $66.00/SF
− Vacancy
−$21.9K −$7.92/SF
EGI
$160.3K $58.08/SF
− OpEx
−$60.1K −$21.78/SF
NOI
$100.2K $36.30/SF
Area
Brooklyn, NY
Vacancy
12.00%
Lease Rate
$66.00 /SF/Yr
Expense Ratio
37.50%
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%
$2,003,760
Cap Rate 7%
$1,431,257
Cap Rate 9%
$1,113,200
Alternative Uses
Best Use
Retail
$1.89M
$1.65M – $2.21M
NOI $132,355 @ 7.0% cap · market cap 9.45%
Second Best
Mixed Use
$1.43M
$1.25M – $1.67M
NOI $100,188 @ 7.0% cap · market cap 7.16%
Theoretical Best
Specialty Retail
$2.29M
$2.00M – $2.67M
NOI $159,970 @ 7.0% cap · market cap 11.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,464
Businesses Nearby
Explore this area
Business Placement
Demographics for 11210, NY
62,805
Population
22,817
Households
2.8
Avg Household Size
38
Median Age
39%
College-Educated
89%
High-School Grad
1.6 sq mi
ZIP Area
39,253
Density / Sq Mi
$83,261
Median Household Income
$50,286
Median Earnings
$1,734
Median Rent
$817,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with vacant ground-floor retail and two residential apartments above, positioned along Flatbush Avenue near multiple bus lines.
Where is this mixed-use property located?
The property is located at 1692 Flatbush Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 2,760‑square‑foot mixed‑use building with three total units; Vacant ground‑floor commercial space offers immediate leasing or owner‑user flexibility; Two residential apartments provide existing residential income
