Five-Unit Mixed-Use
New
For Sale
$8,250,000
1 2nd Pl, Brooklyn, NY 11231
Four unrestricted residential apartments, including a carriage house, sit alongside a commercial space currently occupied by Ramsey Tutoring Inc.
Property Size7,830 SF
Days on Market3
Property Features for 1 2nd Pl
General Information
Standard status
Active
Size
7,830 SF
Property subtype
Mixed-Use
Occupancy
100%
Additional Details
Cap Rate
5%
Mixed-Use Components
commercial, residential
Multifamily Units
4
Tenant in Place
Yes
Amenities
1 Second Place is a five-unit mixed-use property spanning 7,830 SF in the heart of Carroll Gardens
Tax Class: 2A | Zoning: R6B | 100% Free Market Units | 4 Residential Units with a separate Carriage House
Carroll Gardens offers excellent connectivity throughout Brooklyn and Manhattan, with nearby F and G subway service at Carroll Street providing direct access to Downtown Brooklyn and Manhattan.
Building Details
Building Size
7,830 SF
Units
5
Tenancy
Multi
Listing Agency:
New York City Office
Listed By:
Shaun Riney · License #License(s): NY: 10491208207, NY: 10301215754
(718) 475-4369
Source:
Marcusmillichap
Added: Oct 28
Changed: Oct 29
Last Checked: Oct 28 at 3:50PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of New York City Office
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Investment Insights
Based on property information with market context.
This five-unit mixed-use property in Carroll Gardens combines four free-market residential units with one commercial space. The residential component includes a separate carriage house, and Ramsey Tutoring Inc. occupies the commercial unit.
The property is on a tree-lined block in Brooklyn’s Carroll Gardens neighborhood.
The property is on a tree-lined block in Brooklyn’s Carroll Gardens neighborhood.
Key Highlights
- Five units: four free‑market residences and one commercial space
- Residential units include a separate carriage house
- Commercial space occupied by Ramsey Tutoring Inc.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$284,229
Cap Rate
3.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,684,580
$5.7M
Cap Rate 7%
$4,060,414
$4.1M
Cap Rate 9%
$3,158,100
$3.2M
Market Conditions
NOI Build-Up for 7,830 SF
Gross rent
$516.8K $66.00/SF
− Vacancy
−$62.0K −$7.92/SF
EGI
$454.8K $58.08/SF
− OpEx
−$170.5K −$21.78/SF
NOI
$284.2K $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 Rate 5%
$5,684,580
Cap Rate 7%
$4,060,414
Cap Rate 9%
$3,158,100
Alternative Uses
Best Use
Mixed Use
$4.06M
$3.55M – $4.74M
NOI $284,229 @ 7.0% cap · market cap 3.45%
Second Best
Apartment 5plus
$3.41M
$2.99M – $3.98M
NOI $239,042 @ 7.0% cap · market cap 2.90%
Theoretical Best
Specialty Retail
$6.48M
$5.67M – $7.56M
NOI $453,827 @ 7.0% cap · market cap 5.50%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,606
Businesses Nearby
Explore this area
Business Placement
Demographics for 11231, NY
37,240
Population
18,265
Households
2
Avg Household Size
37
Median Age
69%
College-Educated
90%
High-School Grad
1.4 sq mi
ZIP Area
26,600
Density / Sq Mi
$138,485
Median Household Income
$85,791
Median Earnings
$2,474
Median Rent
$1,678,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Four unrestricted residential apartments, including a carriage house, sit alongside a commercial space currently occupied by Ramsey Tutoring Inc.
Where is this mixed-use property located?
The property is located at 1 2nd Pl Brooklyn, NY.
What is the asking price?
The asking price for this property is $8,250,000.
What are key features of this property?
This property features: Five units: four free‑market residences and one commercial space; Residential units include a separate carriage house; Commercial space occupied by Ramsey Tutoring Inc.
