Corner Mixed-Use
For Sale
$2,988,000
1135 Flatbush Ave, Brooklyn, NY 11226
Corner configuration combines commercial spaces with residential apartments in a multi-tenant building.
Property Size4,410 SF
Lot Size0.05 Acres
Price / SF$677.55
Days on Market74
Property Features for 1135 Flatbush Ave
General Information
Standard status
Active
Size
4,410 SF
Lot size
0.05 Acres
Property subtype
Commercial
Additional Details
Corner Location
Yes
Taxes and HOA fees
Annual Taxes
$31,735
Building Details
Building Size
4,410 SF
Year Built
1933
Units
7
Tenancy
Multi
Listing Agency:
5 BORO REALTY CORP
(917) 705-0005
Listed By:
Nina Sabag · License #10311207532
(917) 705-0005
Source:
Elliman
Added: Jun 20
Changed: Aug 30
Last Checked: Aug 31 at 6:24PM
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 5 BORO REALTY CORP
Investment Insights
Based on property information with market context.
Built in 1933, this mixed-use property occupies a 2,110-square-foot corner lot and contains 4,410 square feet of building area. The layout includes 3 commercial spaces and 4 residential apartments, creating a combination of retail or service occupancy with residential units. The property also includes 4,000 square feet of extra buildable area as identified in the listing information.
Located at 1135 Flatbush Avenue in Brooklyn, the asset has a Walk Score of 90, a Transit Score of 97, and a Bike Score of 66. Its corner position places the building within an active, highly accessible urban corridor.
Located at 1135 Flatbush Avenue in Brooklyn, the asset has a Walk Score of 90, a Transit Score of 97, and a Bike Score of 66. Its corner position places the building within an active, highly accessible urban corridor.
Key Highlights
- 2,110 SF corner lot with a 4,410 SF building
- 3 commercial spaces and 4 residential apartments
- 4,000 sqft of extra buildable area
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
$111,788
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
3.74%
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%
$2,235,760
$2.2M
Cap Rate 7%
$1,596,971
$1.6M
Cap Rate 9%
$1,242,089
$1.2M
Market Conditions
NOI Build-Up for 4,410 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
$166.7K $37.80/SF
− Vacancy
−$7.0K −$1.59/SF
EGI
$159.7K $36.21/SF
− OpEx
−$47.9K −$10.86/SF
NOI
$111.8K $25.35/SF
Area
ZIP 11226
Vacancy
4.20%
Lease Rate
$37.80 /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%
$2,235,760
Cap Rate 7%
$1,596,971
Cap Rate 9%
$1,242,089
Alternative Uses
Best Use
Multifamily LT 5
$1.60M
$1.40M – $1.86M
NOI $111,788 @ 7.0% cap · market cap 3.74%
Second Best
Apartment 5plus
$1.48M
$1.29M – $1.72M
NOI $103,385 @ 7.0% cap · market cap 3.46%
Theoretical Best
Office A
$2.18M
$1.91M – $2.54M
NOI $152,579 @ 7.0% cap · market cap 5.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
5,157
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Corner configuration combines commercial spaces with residential apartments in a multi-tenant building.
Where is this mixed-use property located?
The property is located at 1135 Flatbush Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,988,000.
What are key features of this property?
This property features: 2,110 SF corner lot with a 4,410 SF building; 3 commercial spaces and 4 residential apartments; 4,000 sqft of extra buildable area
