Building Details

Building Size 4,896 SF

Year Built 1910

Stories 4

Units 4

Listing Agency: Franklin Square

Listed By: Ng Ka Hung Cheng · License #10401356457 Show Phone

Source: Elliman

Added: Oct 28 Last Checked: Oct 28 at 4:28PM

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Investment Insights

Based on property information with market context.

A ground-floor restaurant space anchors this four-level mixed-use property, with one apartment on each of the second, third, and fourth floors. Each residence has three bedrooms, one full bathroom, and approximately 1,400 square feet of living area. The building dates to 1910.

At 1073 Flatbush Ave in Brooklyn, the property has access to public transportation, shopping, dining, and neighborhood amenities. Its reported scores are 90 for biking, 96 for walking, and 98 for transit.

Key Highlights

• Ground‑floor commercial restaurant space
• Three apartments, located on the second, third, and fourth floors
• Each apartment has 3 bedrooms, 1 full bathroom, and approximately 1,400 square feet of living space

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$120,630

Cap Rate

7.31%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,412,600 $2.4M

Cap Rate 7%

$1,723,286 $1.7M

Cap Rate 9%

$1,340,333 $1.3M

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,896 SF

Gross rent

$173.3K $35.40/SF

− Vacancy

−$12.5K −$2.55/SF

EGI

$160.8K $32.85/SF

− OpEx

−$40.2K −$8.21/SF

NOI

$120.6K $24.64/SF

Area

ZIP 11226

Vacancy

7.20%

Lease Rate

$35.40 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,412,600

Cap Rate 7%

$1,723,286

Cap Rate 9%

$1,340,333

Alternative Uses

Best Use

Specialty Retail

$1.72M

$1.51M – $2.01M (±1% cap)

NOI $120,630 @ 7.0% cap · market cap 7.31%

Second Best

Apartment 5plus

$1.64M

$1.43M – $1.91M (±1% cap)

NOI $114,778 @ 7.0% cap · market cap 6.96%

Theoretical Best

Office A

$2.42M

$2.12M – $2.82M (±1% cap)

NOI $169,394 @ 7.0% cap · market cap 10.27%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

China Chef Restaurant

Suggested Use

Top Pick Law Firm Real Estate Agency Parking Lot & Garage Gym & Fitness Center Auto Parts Store Skin Care Clinic

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

3

Residential units

Location Intelligence

Trade Area within ½ mile

5,210

Businesses Nearby

Explore this area Business Placement

Demographics for 11226, NY

101,727

Population

42,618

Households

2.4

Avg Household Size

37

Median Age

36%

College-Educated

86%

High-School Grad

1.3 sq mi

ZIP Area

78,252

Density / Sq Mi

$81,084

Median Household Income

$49,892

Median Earnings

$1,751

Median Rent

$866,300

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 - The upper floors contain three apartments, each with a three-bedroom layout and one full bathroom.

Where is this mixed-use property located?

The property is located at 1073 Flatbush Ave Brooklyn, NY.

What is the asking price?

The asking price for this property is $1,650,000.

What are key features of this property?

This property features: Ground‑floor commercial restaurant space; Three apartments, located on the second, third, and fourth floors; Each apartment has 3 bedrooms, 1 full bathroom, and approximately 1,400 square feet of living space