Mixed-Use Building with
For Sale
$1,800,000
1023 McDonald Avenue, Brooklyn, NY 11230
Mixed-use building featuring a retail store and three apartments with convenient access to the F train.
Property Size1,873 SF
Days on Market152
Property Features for 1023 McDonald Avenue
General Information
Standard status
Active
Size
1,873 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$3,090
Building Details
Building Size
1,873 SF
Year Built
1920
Units
4
Tenancy
Multi
Listing Agency:
Houlihan Lawrence Inc.
(914) 328-8400
Listed By:
Olivia M. White
(718) 930-5653
Source:
Millenniumhomes
Added: Apr 11
Changed: Sep 8
Last Checked: Aug 25 at 9:24AM
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 Houlihan Lawrence Inc.
Investment Insights
Based on property information with market context.
This mixed-use building offers a combined setup of three apartments plus a retail store within the same property. The arrangement supports a live-work or income-focused configuration for an owner looking to diversify income streams in one asset.
The building is located on McDonald Ave in Brooklyn, positioned steps from the F train for transit access.
For buyers seeking a mixed-use structure with both residential units and street-level retail, this property provides a straightforward footprint with retail and apartments under one roof.
The building is located on McDonald Ave in Brooklyn, positioned steps from the F train for transit access.
For buyers seeking a mixed-use structure with both residential units and street-level retail, this property provides a straightforward footprint with retail and apartments under one roof.
Key Highlights
- Mixed‑use building with 3 apartments plus a retail store
- Located steps from the F train
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
$89,819
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
4.99%
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%
$1,796,380
$1.8M
Cap Rate 7%
$1,283,129
$1.3M
Cap Rate 9%
$997,989
$998.0K
Market Conditions
NOI Build-Up for 1,873 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
$145.6K $77.76/SF
− Vacancy
−$17.3K −$9.25/SF
EGI
$128.3K $68.51/SF
− OpEx
−$38.5K −$20.55/SF
NOI
$89.8K $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 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%
$1,796,380
Cap Rate 7%
$1,283,129
Cap Rate 9%
$997,989
Alternative Uses
Best Use
Retail
$1.28M
$1.12M – $1.50M
NOI $89,819 @ 7.0% cap · market cap 4.99%
Second Best
Mixed Use
$971.3K
$849.9K – $1.13M
NOI $67,990 @ 7.0% cap · market cap 3.78%
Theoretical Best
Specialty Retail
$1.55M
$1.36M – $1.81M
NOI $108,559 @ 7.0% cap · market cap 6.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,962
Businesses Nearby
Explore this area
Business Placement
Demographics for 11230, NY
91,391
Population
34,269
Households
2.7
Avg Household Size
35
Median Age
44%
College-Educated
82%
High-School Grad
1.8 sq mi
ZIP Area
50,773
Density / Sq Mi
$69,522
Median Household Income
$43,135
Median Earnings
$1,734
Median Rent
$863,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Mixed-use building featuring a retail store and three apartments with convenient access to the F train.
Where is this triplex located?
The property is located at 1023 McDonald Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Mixed‑use building with 3 apartments plus a retail store; Located steps from the F train
