Mixed-Use Property with
New
For Sale
$1,598,000
104 Albany Ave, Brooklyn, NY 11213
Brick two-family property with a detached storefront, private garages, and separate residential living areas.
Property Size2,140 SF
Days on Market2
Property Features for 104 Albany Ave
General Information
Standard status
Active
Size
2,140 SF
Total Parking Spaces
2
Property subtype
Commercial
Property Condition
Severity
Major Repairs Needed
Evidence
requires a full renovation
Taxes and HOA fees
Annual Taxes
$4,471
Building Details
Building Size
2,140 SF
Year Built
1910
Buildings
2
Construction
brick
Listing Agency:
Womcore LLC dba Remax Edge
(718) 612-3088
Listed By:
Faig Mikayilov · License #10301220271
(718) 612-3088
Source:
Elliman
Added: Aug 21
Changed: Aug 22
Last Checked: Aug 22 at 3:46AM
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 Womcore LLC dba Remax Edge
Investment Insights
Based on property information with market context.
Located at 104 Albany Avenue in Brooklyn, this 1910 brick mixed-use property combines two residential units with a detached commercial storefront facing Pacific Street. The owner’s duplex spans the first and parlor floors and includes two bedrooms, two bathrooms, a living room, and an eat-in kitchen. A separate two-bedroom apartment occupies the third floor with its own kitchen and full bathroom.
The property also includes two private garages. A full renovation is required, creating a substantial improvement project for an investor, contractor, or owner-user. Crown Heights provides walkable and transit-oriented access, with a walk score of 87, a bike score of 88, and a transit score of 100.
The property also includes two private garages. A full renovation is required, creating a substantial improvement project for an investor, contractor, or owner-user. Crown Heights provides walkable and transit-oriented access, with a walk score of 87, a bike score of 88, and a transit score of 100.
Key Highlights
- 1910 brick mixed‑use building at 104 Albany Avenue, Brooklyn, NY 11213
- Two‑family layout with an owner’s duplex and separate third‑floor apartment
- Detached commercial storefront facing Pacific Street
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
$102,623
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
6.42%
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%
$2,052,460
$2.1M
Cap Rate 7%
$1,466,043
$1.5M
Cap Rate 9%
$1,140,256
$1.1M
Market Conditions
NOI Build-Up for 2,140 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
$166.4K $77.76/SF
− Vacancy
−$19.8K −$9.25/SF
EGI
$146.6K $68.51/SF
− OpEx
−$44.0K −$20.55/SF
NOI
$102.6K $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%
$2,052,460
Cap Rate 7%
$1,466,043
Cap Rate 9%
$1,140,256
Alternative Uses
Best Use
Retail
$1.47M
$1.28M – $1.71M
NOI $102,623 @ 7.0% cap · market cap 6.42%
Second Best
Mixed Use
$1.11M
$971.0K – $1.29M
NOI $77,682 @ 7.0% cap · market cap 4.86%
Theoretical Best
Specialty Retail
$1.77M
$1.55M – $2.07M
NOI $124,034 @ 7.0% cap · market cap 7.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,083
Businesses Nearby
Explore this area
Business Placement
Demographics for 11213, NY
67,217
Population
29,186
Households
2.3
Avg Household Size
34
Median Age
34%
College-Educated
84%
High-School Grad
1.1 sq mi
ZIP Area
61,106
Density / Sq Mi
$62,040
Median Household Income
$43,736
Median Earnings
$1,607
Median Rent
$1,184,400
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 - Brick two-family property with a detached storefront, private garages, and separate residential living areas.
Where is this mixed-use property located?
The property is located at 104 Albany Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,598,000.
What are key features of this property?
This property features: 1910 brick mixed‑use building at 104 Albany Avenue, Brooklyn, NY 11213; Two‑family layout with an owner’s duplex and separate third‑floor apartment; Detached commercial storefront facing Pacific Street
