Corner Mixed-Use Income
For Sale
Contact for pricing
1094 Hancock Street, Brooklyn, NY 11221
Mixed-use corner building with four apartments and one street-level store, positioned near multiple subway lines.
Property Size3,600 SF
Price / SF$486.11
Days on Market58
Property Features for 1094 Hancock Street
General Information
Standard status
Active
Size
3,600 SF
Property subtype
Retail, Mixed Use
Zoning
R6
Investment Type
Owner/User
Net Operating Income
$14,955
Additional Details
Multifamily Units
4
Building Details
Units
5
Tenancy
Multi
Listing Agency:
IPRG Investment Property Realty Group
Listed By:
Derek Bestreich · License #10991237362
Source:
Crexi
Added: Jun 17
Changed: Aug 10
Last Checked: Aug 12 at 10:18AM
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 IPRG Investment Property Realty Group
Investment Insights
Based on property information with market context.
This corner mixed-use property includes four apartments and one store, providing two distinct income streams within a single building. The building is sized approximately 20 ft by 60 ft, totaling about 3,600 square feet, and sits on a 20 ft by 100 ft lot. The layout supports residential living in addition to a retail storefront configuration.
The property is located at the corner of Evergreen Avenue and Hancock Street in Bushwick, Brooklyn. It is within walking distance to the J, L, M, and Z subway lines, offering convenient transit access for tenants and customers.
For buyers seeking a residential income building with street-level commercial exposure, this configuration offers a practical way to diversify unit types while keeping ownership consolidated. The combination of four apartments and one store may be appealing to investors or owner-occupants looking to manage a single asset with both residential and retail components.
The property is located at the corner of Evergreen Avenue and Hancock Street in Bushwick, Brooklyn. It is within walking distance to the J, L, M, and Z subway lines, offering convenient transit access for tenants and customers.
For buyers seeking a residential income building with street-level commercial exposure, this configuration offers a practical way to diversify unit types while keeping ownership consolidated. The combination of four apartments and one store may be appealing to investors or owner-occupants looking to manage a single asset with both residential and retail components.
Key Highlights
- Corner mixed‑use building at Evergreen Ave & Hancock St in Bushwick, Brooklyn
- Contains 4 apartments plus 1 street‑level store
- Approximately 3,600 SF building size (20 ft x 60 ft)
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
$130,680
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
7.47%
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%
$2,613,600
$2.6M
Cap Rate 7%
$1,866,857
$1.9M
Cap Rate 9%
$1,452,000
$1.5M
Market Conditions
NOI Build-Up for 3,600 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
$237.6K $66.00/SF
− Vacancy
−$28.5K −$7.92/SF
EGI
$209.1K $58.08/SF
− OpEx
−$78.4K −$21.78/SF
NOI
$130.7K $36.30/SF
Area
Brooklyn, NY
Vacancy
12.00%
Lease Rate
$66.00 /SF/Yr
Expense Ratio
37.50%
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%
$2,613,600
Cap Rate 7%
$1,866,857
Cap Rate 9%
$1,452,000
Alternative Uses
Best Use
Retail
$2.47M
$2.16M – $2.88M
NOI $172,637 @ 7.0% cap · market cap 9.86%
Second Best
Mixed Use
$1.87M
$1.63M – $2.18M
NOI $130,680 @ 7.0% cap · market cap 7.47%
Theoretical Best
Specialty Retail
$2.98M
$2.61M – $3.48M
NOI $208,656 @ 7.0% cap · market cap 11.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,737
Businesses Nearby
Explore this area
Business Placement
Demographics for 11221, NY
89,222
Population
38,690
Households
2.3
Avg Household Size
33
Median Age
42%
College-Educated
84%
High-School Grad
1.4 sq mi
ZIP Area
63,730
Density / Sq Mi
$85,122
Median Household Income
$49,202
Median Earnings
$2,055
Median Rent
$1,061,400
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 - Mixed-use corner building with four apartments and one street-level store, positioned near multiple subway lines.
Where is this mixed-use property located?
The property is located at 1094 Hancock Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Corner mixed‑use building at Evergreen Ave & Hancock St in Bushwick, Brooklyn; Contains 4 apartments plus 1 street‑level store; Approximately 3,600 SF building size (20 ft x 60 ft)
