631 Franklin Avenue, Brooklyn, NY 11238
Three-story mixed-use property with commercial space, apartments, and garages.
- Added:
- Jun 20, 2024
- Days on Market:
- 736
- Last Refresh:
- May 19 at 11:33 pm
Property Features for 631 Franklin Avenue
General Information
- Standard status
- Active
- Size
- 3,400 SF
- Lot size
- 0.04 Acres
- Property subtype
- other
Building Details
- Year Built
- 1905
Listing office Bellmarc (718) 768-4500
Listing date Jun 20, 2024
Source Exitrealty
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 Bellmarc
HighLights
- Prime corner location at the intersection of Crown Heights and Prospect Heights
- Commercial space on the first level with high visibility
- Buildable air rights of 3,000 sq ft (subject to confirmation)
- Three garages included
- Two upper‑level rental apartments
- Full basement with high ceilings for storage or workshop
Overview
Local Financial Insights For Retail
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 | $264.4k | $77.76 |
| − Vacancy | −$31.5k | −$9.25 |
| EGI | $232.9k | $68.51 |
| − OpEx | −$69.9k | −$20.55 |
| NOI | $163.0k | $47.95 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.955393
- Latitude
- 40.677041
