Mixed-Use Property With
For Sale
$1,598,000
104 Albany Avenue, Brooklyn, NY 11213
Brick two-family building with separate apartments, a commercial storefront, private garages, and a full renovation requirement.
Property Size2,140 SF
Price / SF$746.73
Days on Market12
Property Features for 104 Albany Avenue
General Information
Standard status
Active
Size
2,140 SF
Property subtype
Mixed Use
Property Condition
Severity
Major Repairs Needed
Evidence
requires a full renovation
Building Details
Building Size
2,140 SF
Year Built
1900
Construction
brick
Listing Agency:
RE Max Edge Group
(718) 612-3088
Listed By:
Faig Mikayilov · License #10301220271
(718) 612-3088
Source:
Miradorrealestate
Added: Aug 20
Changed: Aug 29
Last Checked: Aug 30 at 9:24PM
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 RE Max Edge Group
Investment Insights
Based on property information with market context.
This brick mixed-use property, built in 1910, combines residential and commercial components across a two-family configuration. The owner’s duplex spans the first and parlor floors and includes two bedrooms, two bathrooms, a living room, and a kitchen. A separate two-bedroom apartment occupies the third floor with its own kitchen and full bathroom.
A detached commercial storefront faces Pacific Street, adding a distinct business component to the property. Two private garages are also included, along with two parking spaces. The building requires a full renovation, providing a substantial repositioning project for an investor, contractor, or owner-user seeking residential and commercial space in one property.
A detached commercial storefront faces Pacific Street, adding a distinct business component to the property. Two private garages are also included, along with two parking spaces. The building requires a full renovation, providing a substantial repositioning project for an investor, contractor, or owner-user seeking residential and commercial space in one property.
Key Highlights
- Two‑family brick property with a 1910 construction date
- Owner’s duplex includes 2 bedrooms, 2 bathrooms, living room, and kitchen
- Separate third‑floor apartment has 2 bedrooms, kitchen, and full bathroom
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 building with separate apartments, a commercial storefront, private garages, and a full renovation requirement.
Where is this mixed-use property located?
The property is located at 104 Albany Avenue 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: Two‑family brick property with a 1910 construction date; Owner’s duplex includes 2 bedrooms, 2 bathrooms, living room, and kitchen; Separate third‑floor apartment has 2 bedrooms, kitchen, and full bathroom
