Corner Mixed-Use Building with
For Sale
$23,388,000
101-105 Havemeyer Street, Brooklyn, NY 11211
Mixed-use corner building offering apartments plus restaurant and retail space under M1-2/R6A/MX-8 zoning.
Property Size31,500 SF
Days on Market424
Property Features for 101-105 Havemeyer Street
General Information
Standard status
Active
Size
31,500 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$269,221
Building Details
Building Size
31,500 SF
Year Built
1915
Listing Agency:
All Island Estates Realty Corp
Listed By:
Richard Matt Shane
Source:
Serhant
Added: Jul 3, 2025
Changed: Aug 28
Last Checked: Aug 29 at 1:42PM
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 All Island Estates Realty Corp
Investment Insights
Based on property information with market context.
This corner mixed-use building totals 36 units and combines residential and commercial space, including 21 free-market apartments and 11 stabilized apartments, plus a restaurant and three commercial units. Reported building features include high 10’ ceilings, all-new LED lighting, and 3-phase power. The property has 6 parking spaces and 154 feet of wrap-around frontage along Havemeyer Street and Hope Street, with access at a signalized intersection.
The building is positioned in Williamsburg, described as one block off I-278 and minutes from the Williamsburg Bridge. Nearby businesses and services referenced in the remarks include Starbucks, Peter Luger’s Steak House, The Home Depot, Whole Foods Market, CubeSmart Self Storage, T-Mobile, Planet Fitness, Walgreens, Dunkin’, Liberty Tax, Meineke Car Care Center, Trader Joe’s, McDonald’s, and IHOP.
Designed for investors, developers, and end-users, the property’s mixed-income residential component and on-site commercial uses provide an operationally diverse platform. The financials provided include $1,400,000 in current gross income and $1,078,161 in reported NOI, along with annual common-area expenses listed in the remarks.
The building is positioned in Williamsburg, described as one block off I-278 and minutes from the Williamsburg Bridge. Nearby businesses and services referenced in the remarks include Starbucks, Peter Luger’s Steak House, The Home Depot, Whole Foods Market, CubeSmart Self Storage, T-Mobile, Planet Fitness, Walgreens, Dunkin’, Liberty Tax, Meineke Car Care Center, Trader Joe’s, McDonald’s, and IHOP.
Designed for investors, developers, and end-users, the property’s mixed-income residential component and on-site commercial uses provide an operationally diverse platform. The financials provided include $1,400,000 in current gross income and $1,078,161 in reported NOI, along with annual common-area expenses listed in the remarks.
Key Highlights
- 31,500 SF, 36‑unit corner mixed‑use building on Havemeyer St & Hope St with 21 free‑market apartments, 11 stabilized apartments, and a restaurant plus 3 commercial units
- Zoned M1‑2/R6A/MX‑8
- 154 ft wrap‑around frontage on Havemeyer Street & Hope Street, located at a signalized intersection
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
$1,825,740
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
7.81%
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%
$36,514,800
$36.5M
Cap Rate 7%
$26,082,000
$26.1M
Cap Rate 9%
$20,286,000
$20.3M
Market Conditions
NOI Build-Up for 31,500 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
$2.65M $84.00/SF
− Vacancy
−$211.7K −$6.72/SF
EGI
$2.43M $77.28/SF
− OpEx
−$608.6K −$19.32/SF
NOI
$1.83M $57.96/SF
Area
Brooklyn, NY
Vacancy
8.00%
Lease Rate
$84.00 /SF/Yr
Expense Ratio
25.00%
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%
$36,514,800
Cap Rate 7%
$26,082,000
Cap Rate 9%
$20,286,000
Alternative Uses
Best Use
Specialty Retail
$26.08M
$22.82M – $30.43M
NOI $1,825,740 @ 7.0% cap · market cap 7.81%
Second Best
Mixed Use
$16.33M
$14.29M – $19.06M
NOI $1,143,450 @ 7.0% cap · market cap 4.89%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
8,980
Businesses Nearby
Explore this area
Business Placement
Demographics for 11211, NY
68,540
Population
29,068
Households
2.4
Avg Household Size
31
Median Age
55%
College-Educated
86%
High-School Grad
1.5 sq mi
ZIP Area
45,693
Density / Sq Mi
$105,183
Median Household Income
$67,533
Median Earnings
$2,357
Median Rent
$1,118,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use corner building offering apartments plus restaurant and retail space under M1-2/R6A/MX-8 zoning.
Where is this mixed-use property located?
The property is located at 101-105 Havemeyer Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $23,388,000.
What are key features of this property?
This property features: 31,500 SF, 36‑unit corner mixed‑use building on Havemeyer St & Hope St with 21 free‑market apartments, 11 stabilized apartments, and a restaurant plus 3 commercial units; Zoned M1‑2/R6A/MX‑8; 154 ft wrap‑around frontage on Havemeyer Street & Hope Street, located at a signalized intersection
