Brooklyn Mixed-Use Property For
For Sale
$1,350,000
607 Hegeman Ave, Brooklyn, NY 11207
Mixed-use property with commercial storefront and two-family residential units.
Property Size2,776 SF
Lot Size0.04 Acres
Days on Market160
Property Features for 607 Hegeman Ave
General Information
Standard status
Active
Size
2,776 SF
Lot size
0.04 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$4,998
Building Details
Building Size
2,776 SF
Year Built
1930
Units
2
Listing Agency:
(646) 821-0414
Listed By:
Natalie Efraimov
(646) 821-0414
Source:
Elliman
Added: Mar 10
Changed: Aug 14
Last Checked: Aug 16 at 6:42AM
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 Natalie Efraimov
Investment Insights
Based on property information with market context.
Located in Brooklyn, 607 Hegeman Avenue is a mixed-use property featuring a ground-floor commercial storefront and a two-family residential layout above. The residential portion includes 8 bedrooms and 3 bathrooms across multiple units, offering rental income potential or flexible use for an owner-occupant. Each unit provides generous layouts, natural light, and functional living space. The commercial space on the first floor benefits from visibility and foot traffic, making it suitable for various businesses. This property offers a balance of residential comfort and commercial utility.
Key Highlights
- Mixed‑use property featuring a commercial storefront and two residential units.
- Prime Brooklyn location offers high visibility and foot traffic for the commercial space.
- Strong rental income potential with 8 bedrooms and 3 bathrooms across the 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
$100,769
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
7.46%
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%
$2,015,380
$2.0M
Cap Rate 7%
$1,439,557
$1.4M
Cap Rate 9%
$1,119,656
$1.1M
Market Conditions
NOI Build-Up for 2,776 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
$183.2K $66.00/SF
− Vacancy
−$22.0K −$7.92/SF
EGI
$161.2K $58.08/SF
− OpEx
−$60.5K −$21.78/SF
NOI
$100.8K $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%
$2,015,380
Cap Rate 7%
$1,439,557
Cap Rate 9%
$1,119,656
Alternative Uses
Best Use
Mixed Use
$1.44M
$1.26M – $1.68M
NOI $100,769 @ 7.0% cap · market cap 7.46%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.30M
$2.01M – $2.68M
NOI $160,897 @ 7.0% cap · market cap 11.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,252
Businesses Nearby
Explore this area
Business Placement
Demographics for 11207, NY
100,330
Population
38,030
Households
2.6
Avg Household Size
35
Median Age
19%
College-Educated
81%
High-School Grad
2.7 sq mi
ZIP Area
37,159
Density / Sq Mi
$55,419
Median Household Income
$41,008
Median Earnings
$1,443
Median Rent
$657,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with commercial storefront and two-family residential units.
Where is this mixed-use property located?
The property is located at 607 Hegeman Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Mixed‑use property featuring a commercial storefront and two residential units.; Prime Brooklyn location offers high visibility and foot traffic for the commercial space.; Strong rental income potential with 8 bedrooms and 3 bathrooms across the residential units.
