Mixed-Use Building with
For Sale
$1,599,000
2254 65th Street, Brooklyn, NY 11204
Residential Income, Brooklyn, NY
Property Size2,590 SF
Lot Size0.05 Acres
Price / SF$617.37
Days on Market62
Property Features for 2254 65th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bathroom 3, Bathroom 4, Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 1
Subdivision
Bensonhurst
High school district
21
Standard status
Active
Size
2,590 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
10051
Building Details
Year built
1935
Floors in Building
3
Listing Agency:
COZY CORNER REALTY LLC
(917) 923-4038
Listed By:
Lorraine Digregorio
(718) 331-2490
Added: Jul 28
Changed: Sep 14
Last Checked: Sep 27 at 1:06PM
MLS# 11906861
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 combines three residential apartments with one ground-floor commercial store. The residential units are scheduled to be delivered vacant, while the retail space is occupied by a tenant with 14 years of tenure and may remain leased or be provided vacant. The store measures 14 by 30 feet. A full basement offers interior access to the backyard, and the roof is in good condition. The 200,000 BTU boiler was replaced in May 2025, with hot water heater replacement scheduled for August 10th.
The property is located on 65th Street near Bay Parkway and minutes from the Belt Parkway. It sits on a 20-by-100-foot lot and carries R6A / C2-3 zoning. Potential buildable area is identified as 6,000 square feet, subject to architectural review.
The property is located on 65th Street near Bay Parkway and minutes from the Belt Parkway. It sits on a 20-by-100-foot lot and carries R6A / C2-3 zoning. Potential buildable area is identified as 6,000 square feet, subject to architectural review.
Key Highlights
- Three‑family residential component with all units scheduled for vacancy
- Street‑level commercial store measuring 14x30 feet
- Existing commercial tenant has occupied the store for 14 years
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
$124,202
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
7.77%
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%
$2,484,040
$2.5M
Cap Rate 7%
$1,774,314
$1.8M
Cap Rate 9%
$1,380,022
$1.4M
Market Conditions
NOI Build-Up for 2,590 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
$201.4K $77.76/SF
− Vacancy
−$24.0K −$9.25/SF
EGI
$177.4K $68.51/SF
− OpEx
−$53.2K −$20.55/SF
NOI
$124.2K $47.95/SF
Area
Brooklyn, NY
Vacancy
11.90%
Lease Rate
$77.76 /SF/Yr
Expense Ratio
30.00%
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%
$2,484,040
Cap Rate 7%
$1,774,314
Cap Rate 9%
$1,380,022
Alternative Uses
Best Use
Retail
$1.77M
$1.55M – $2.07M
NOI $124,202 @ 7.0% cap · market cap 7.77%
Second Best
Mixed Use
$1.34M
$1.18M – $1.57M
NOI $94,017 @ 7.0% cap · market cap 5.88%
Theoretical Best
Specialty Retail
$2.14M
$1.88M – $2.50M
NOI $150,116 @ 7.0% cap · market cap 9.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,854
Businesses Nearby
Explore this area
Business Placement
Demographics for 11204, NY
85,885
Population
27,498
Households
3.1
Avg Household Size
34
Median Age
30%
College-Educated
74%
High-School Grad
1.6 sq mi
ZIP Area
53,678
Density / Sq Mi
$67,588
Median Household Income
$33,461
Median Earnings
$1,751
Median Rent
$1,097,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Three residential apartments accompany a street-level commercial space in a Brooklyn business district.
Where is this mixed-use property located?
The property is located at 2254 65th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,599,000.
What are key features of this property?
This property features: Three‑family residential component with all units scheduled for vacancy; Street‑level commercial store measuring 14x30 feet; Existing commercial tenant has occupied the store for 14 years
