Building Details

Year Built 1930

Year Renovated 2015

Buildings 1

Stories 4

Units 7

Tenancy Multi

Listing Agency: Cushman & Wakefield New York

Listed By: Dylan Walsh · License #10401384207 Show Phone

Source: Crexi

Added: May 1 Changed: Oct 10 Last Checked: Oct 16 at 8:18AM

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Investment Insights

Based on property information with market context.

This 5,281 SF mixed-use property, constructed in 1930, combines six residential apartments with one ground-floor commercial space. The apartments are approximately 517 square feet each and include three 1Bed/1Bath layouts and three 2Bed/1Bath layouts. The commercial component is occupied by Robotic S.T.E.A.M., a children's science, technology, engineering, and math program, under a lease running through 2029.

The property is positioned on Fulton Street in Clinton Hill, Brooklyn, near Bedford-Stuyvesant. Its R7A, C2-4 zoning supports the existing mixed-use configuration. Nearby transportation includes the A, C, and Franklin Shuttle lines, along with bus service on Fulton Street, connecting the area with Downtown Brooklyn, Williamsburg, and Manhattan.

Key Highlights

• 5,281 SF mixed‑use property built in 1930
• Six residential units: three 1Bed/1Bath and three 2Bed/1Bath
• Each residential unit is approximately 517 square feet

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$253,248

Cap Rate

5.51%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,064,960 $5.1M

Cap Rate 7%

$3,617,829 $3.6M

Cap Rate 9%

$2,813,867 $2.8M

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,281 SF

Gross rent

$410.7K $77.76/SF

− Vacancy

−$48.9K −$9.25/SF

EGI

$361.8K $68.51/SF

− OpEx

−$108.5K −$20.55/SF

NOI

$253.2K $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 Rate 5%

$5,064,960

Cap Rate 7%

$3,617,829

Cap Rate 9%

$2,813,867

Alternative Uses

Best Use

Retail

$3.62M

$3.17M – $4.22M (±1% cap)

NOI $253,248 @ 7.0% cap · market cap 5.51%

Second Best

Mixed Use

$2.74M

$2.40M – $3.20M (±1% cap)

NOI $191,700 @ 7.0% cap · market cap 4.17%

Theoretical Best

Specialty Retail

$4.37M

$3.83M – $5.10M (±1% cap)

NOI $306,087 @ 7.0% cap · market cap 6.65%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

songs for seeds Clinton ... High School Back Then Clothing Store Robotic S.T.E.A.M. High School

Suggested Use

Top Pick Law Firm Auto Parts Store Nursing Home HVAC Service (Bike/Boat/Book/etc) Store Carpet & Flooring Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

6

Residential units

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

6,230

Businesses Nearby

Explore this area Business Placement

Demographics for 11238, NY

60,090

Population

29,588

Households

2

Avg Household Size

35

Median Age

71%

College-Educated

93%

High-School Grad

1.8 sq mi

ZIP Area

33,383

Density / Sq Mi

$132,957

Median Household Income

$85,179

Median Earnings

$2,511

Median Rent

$1,146,000

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Six apartments accompany an occupied commercial space along Fulton Street in Brooklyn.

Where is this mixed-use property located?

The property is located at 1004 Fulton Street Brooklyn, NY.

What is the asking price?

The asking price for this property is $4,600,000.

What are key features of this property?

This property features: 5,281 SF mixed‑use property built in 1930; Six residential units: three 1Bed/1Bath and three 2Bed/1Bath; Each residential unit is approximately 517 square feet