Mixed-Use Building with Ground-Floor
For Sale
Contact for pricing
1004 Fulton Street, Brooklyn, NY 11238
Six apartments accompany an occupied commercial space along Fulton Street in Brooklyn.
Property Size5,281 SF
Price / SF$1,022
Days on Market122
Property Features for 1004 Fulton Street
General Information
Standard status
Active
Size
5,281 SF
Property subtype
Mixed Use
Zoning
R7A, C2-4
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$297,743
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
3 x 1BR/1BA, 3 x 2BR/1BA
Multifamily Units
6
Building Details
Year Built
1930
Year Renovated
2015
Buildings
1
Stories
4
Units
7
Tenancy
Multi
Listing Agency:
Cushman & Wakefield New York
(718) 307-6517
Listed By:
Dylan Walsh · License #10401384207
Source:
Crexi
Added: May 1
Changed: Aug 29
Last Checked: Aug 29 at 6:23PM
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 Cushman & Wakefield New York
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.
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 = 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
$253,248
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
4.69%
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%
$5,064,960
$5.1M
Cap Rate 7%
$3,617,829
$3.6M
Cap Rate 9%
$2,813,867
$2.8M
Market Conditions
NOI Build-Up for 5,281 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
$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 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%
$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
NOI $253,248 @ 7.0% cap · market cap 4.69%
Second Best
Mixed Use
$2.74M
$2.40M – $3.20M
NOI $191,700 @ 7.0% cap · market cap 3.55%
Theoretical Best
Specialty Retail
$4.37M
$3.83M – $5.10M
NOI $306,087 @ 7.0% cap · market cap 5.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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 $5,400,000.
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
