Two-Story Mixed-Use
New
For Sale
$3,200,000
551 Grand Street, Brooklyn, NY 11211
Commercial Sale, Brooklyn, NY
Property Size3,375 SF
Lot Size0.05 Acres
Price / SF$948.15
Days on Market2
Property Features for 551 Grand Street
General Information
Property type
Commercial Sale
Property subtype
Other
Bedrooms
1
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1, Bathroom 1
Subdivision
Williamsburg
High school district
000000
Standard status
Active
Size
3,375 SF
Lot size
0.05 Acres
Building Details
Architectural style
Other
Listing Agency:
Compass
(646) 982-0353
Listed By:
Ania Ishizaki
Added: Oct 8
Changed: Oct 9
Last Checked: Oct 9 at 11:06AM
MLS# 12019799
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 two-story mixed-use property contains approximately 3,375 square feet, with a commercial unit on the ground floor and a residential unit on the second floor. The residence has two bedrooms, one bathroom, a living and dining area, and a kitchen in a railroad layout. A full basement is also part of the building. The property is vacant and was most recently occupied by its owner in a live/work arrangement.
The 22.5-by-100-foot lot is zoned R7A / C2-4, with a maximum FAR of 4.0. The property is within a Qualified Opportunity Zone. G and L train service is nearby at Metropolitan Avenue-Lorimer Street; Bedford Avenue, McCarren Park, Whole Foods, Lidl, and local restaurants and shops are also within reach.
The 22.5-by-100-foot lot is zoned R7A / C2-4, with a maximum FAR of 4.0. The property is within a Qualified Opportunity Zone. G and L train service is nearby at Metropolitan Avenue-Lorimer Street; Bedford Avenue, McCarren Park, Whole Foods, Lidl, and local restaurants and shops are also within reach.
Key Highlights
- Approximately 3,375 sq ft in a two‑story mixed‑use building
- Ground‑floor commercial unit and second‑floor residence with two bedrooms and one bathroom
- Full basement; property is vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$161,847
Cap Rate
5.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,236,940
$3.2M
Cap Rate 7%
$2,312,100
$2.3M
Cap Rate 9%
$1,798,300
$1.8M
Market Conditions
NOI Build-Up for 3,375 SF
Gross rent
$262.4K $77.76/SF
− Vacancy
−$31.2K −$9.25/SF
EGI
$231.2K $68.51/SF
− OpEx
−$69.4K −$20.55/SF
NOI
$161.8K $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 Rate 5%
$3,236,940
Cap Rate 7%
$2,312,100
Cap Rate 9%
$1,798,300
Alternative Uses
Best Use
Retail
$2.31M
$2.02M – $2.70M
NOI $161,847 @ 7.0% cap · market cap 5.06%
Second Best
Mixed Use
$1.75M
$1.53M – $2.04M
NOI $122,513 @ 7.0% cap · market cap 3.83%
Theoretical Best
Specialty Retail
$2.79M
$2.45M – $3.26M
NOI $195,615 @ 7.0% cap · market cap 6.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
8,536
Businesses Nearby
Explore this area
Business Placement
Demographics for 11211, NY
68,540
Population
29,068
Households
2.4
Avg Household Size
31
Median Age
55%
College-Educated
86%
High-School Grad
1.5 sq mi
ZIP Area
45,693
Density / Sq Mi
$105,183
Median Household Income
$67,533
Median Earnings
$2,357
Median Rent
$1,118,600
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Vacant property combines a ground-floor commercial unit with a two-bedroom residence above.
Where is this mixed-use property located?
The property is located at 551 Grand Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: Approximately 3,375 sq ft in a two‑story mixed‑use building; Ground‑floor commercial unit and second‑floor residence with two bedrooms and one bathroom; Full basement; property is vacant
