Mixed-Use Building with
1223 Fulton Street Brooklyn, NY 11216
For Sale
$2,100,000
Fully occupied mixed-use building with six rent-controlled apartments and a ground-floor retail space.
Days on Market147
Property Features for 1223 Fulton Street
General Information
Standard status
Active
Property subtype
Commercial
Building Details
Year Built
1910
Listing Agency:
Exit Realty Continental
(917) 470-3438
Listed By:
Mohammed Rasel
(917) 470-3438
Source:
Cohenandcohenrealty
Added: Mar 4
Changed: Jul 28
Last Checked: Jul 28 at 8:36AM
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 Exit Realty Continental
Investment Insights
Based on property information with market context.
This fully occupied mixed-use building includes six residential units and one ground-floor commercial retail space. The residential mix consists of three two-bedroom apartments and three one-bedroom apartments. The property is described as brick construction and is positioned to generate current in-place income with both residential and retail components.
The building is located on Fulton Street in Brooklyn. The public remarks note transit access near A and C subway lines and multiple MTA bus routes, and a surrounding context of retail, dining, schools, and residential density.
Residential units are stated to be under rent control, and the retail space is described as occupied by an established tenant. The configuration is listed as 6 residential units plus 1 retail unit, supported by the provided current lease status in the remarks.
The building is located on Fulton Street in Brooklyn. The public remarks note transit access near A and C subway lines and multiple MTA bus routes, and a surrounding context of retail, dining, schools, and residential density.
Residential units are stated to be under rent control, and the retail space is described as occupied by an established tenant. The configuration is listed as 6 residential units plus 1 retail unit, supported by the provided current lease status in the remarks.
Key Highlights
- 1910‑built mixed‑use building with 6 residential units and 1 ground‑floor retail unit
- Fully occupied with all residential and retail units fully leased; STRONG in‑place income
- Annual gross income of $195,708 based on current monthly rent roll of $16,309
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $294.5k | $56.64 |
| − Vacancy | −$5.9k | −$1.13 |
| EGI | $288.6k | $55.51 |
| − OpEx | −$129.9k | −$24.98 |
| NOI | $158.8k | $30.53 |
5,200 SF · lease $56.64/SF/yr · vacancy 2.00% · expense 45.00%
Alternative Uses
Best Use
Retail
$3.56M
$3.12M – $4.16M
NOI $249,364 @ 7.0% cap · market cap 11.87%
Second Best
Apartment 5plus
$2.27M
$1.98M – $2.65M
NOI $158,751 @ 7.0% cap · market cap 7.56%
Theoretical Best
Specialty Retail
$4.31M
$3.77M – $5.02M
NOI $301,392 @ 7.0% cap · market cap 14.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied mixed-use building with six rent-controlled apartments and a ground-floor retail space.
Where is this apartment building located?
The property is located at 1223 Fulton Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: 1910‑built mixed‑use building with 6 residential units and 1 ground‑floor retail unit; Fully occupied with all residential and retail units fully leased; STRONG in‑place income; Annual gross income of $195,708 based on current monthly rent roll of $16,309
