Mixed-Use Property with Additional Buildable
For Sale
$2,988,000
1135 Flatbush Avenue, Brooklyn, NY 11226
Mixed-use building currently leased to multiple commercial and residential tenants, with substantial additional buildable area.
Property Size4,410 SF
Days on Market76
Property Features for 1135 Flatbush Avenue
General Information
Standard status
Active
Size
4,410 SF
Property subtype
Commercial
Zoning
R7A
Taxes and HOA fees
Annual Taxes
$31,735
Building Details
Building Size
4,410 SF
Year Built
1933
Units
7
Listing Agency:
5 Boro Realty Corp
(917) 705-0005
Listed By:
Nina Sabag · License #1020364
(917) 705-0005
Source:
Cohenandcohenrealty
Added: Jun 10
Changed: Aug 23
Last Checked: Aug 24 at 2:57PM
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.
This mixed-use property is currently generating income from multiple tenants, including both commercial and residential units. The existing built area totals 4,410 SF on a 2,110 SF lot, and the property includes an additional 4,030 SF of buildable area. With the approved maximum buildable area reaching 8,440 SF, the site offers meaningful development upside based on the stated capacity.
Located at 1135 Flatbush Avenue in Brooklyn, NY, the asset is positioned for investors or operators looking to combine current rental income with further improvements enabled by the property’s buildable parameters.
Located at 1135 Flatbush Avenue in Brooklyn, NY, the asset is positioned for investors or operators looking to combine current rental income with further improvements enabled by the property’s buildable parameters.
Key Highlights
- Mixed‑use property at 1135 Flatbush Avenue, Brooklyn, NY with 4,410 SF of current built area
- On a 2,110 SF lot with 4,030 SF of additional buildable area and maximum buildable area of 8,440 SF
- Currently generating income from multiple tenants, including commercial and residential units
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
$97,902
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
3.28%
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%
$1,958,040
$2.0M
Cap Rate 7%
$1,398,600
$1.4M
Cap Rate 9%
$1,087,800
$1.1M
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
$169.3K $38.40/SF
− Vacancy
−$12.7K −$2.88/SF
EGI
$156.6K $35.52/SF
− OpEx
−$58.7K −$13.32/SF
NOI
$97.9K $22.20/SF
Area
ZIP 11226
Vacancy
7.50%
Lease Rate
$38.40 /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%
$1,958,040
Cap Rate 7%
$1,398,600
Cap Rate 9%
$1,087,800
Alternative Uses
Best Use
Mixed Use
$1.40M
$1.22M – $1.63M
NOI $97,902 @ 7.0% cap · market cap 3.28%
Second Best
Retail
$1.36M
$1.19M – $1.58M
NOI $94,907 @ 7.0% cap · market cap 3.18%
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
Current Use
Location Intelligence
Trade Area within ½ mile
11,936
Businesses Nearby
138k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 40%
Apparel 27%
Shops & Services 17%
Electronics 6%
New York Marriott at the Brooklyn Bridge
Hotels & Casinos
48,622 visits/mo
0.5 miles
Goodwill
Apparel
18,116 visits/mo
0.3 miles
Mobil
Shops & Services
10,567 visits/mo
0.3 miles
The UPS Store
Shops & Services
9,497 visits/mo
0.4 miles
Bravo Supermarkets
Groceries
7,424 visits/mo
0.4 miles
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 Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use building currently leased to multiple commercial and residential tenants, with substantial additional buildable area.
Where is this mixed-use property located?
The property is located at 1135 Flatbush Avenue 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: Mixed‑use property at 1135 Flatbush Avenue, Brooklyn, NY with 4,410 SF of current built area; On a 2,110 SF lot with 4,030 SF of additional buildable area and maximum buildable area of 8,440 SF; Currently generating income from multiple tenants, including commercial and residential units
