Mixed-Use Building in
For Sale
$4,700,000
137 Wyckoff Ave, Brooklyn, NY 11237
Mixed-use property with retail and residential units in Brooklyn.
Property Size7,500 SF
Days on Market146
Property Features for 137 Wyckoff Ave
General Information
Standard status
Active
Size
7,500 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$31,841
Building Details
Building Size
7,500 SF
Year Built
1931
Units
7
Listing Agency:
Douglas Elliman Real Estate
Listed By:
Andrea Evans
(718) 819-4027
Source:
Elliman
Added: Apr 24
Changed: Sep 7
Last Checked: Sep 15 at 6:24AM
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 Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
The mixed-use investment property at 137 Wyckoff Avenue is located in Bushwick. The building features seven residential units situated above a ground-floor retail space. The residential component includes three rent-stabilized units and four free-market units. The retail space is occupied by Dunkin' under a long-term lease, providing income. The property offers a balanced income stream with a commercial tenant and upside potential. The location has a bike score of 70, indicating it is very bikeable, a walk score of 82, indicating it is very walkable, and a transit score of 84, indicating excellent transit.
Key Highlights
- Stable income from long‑term Dunkin' lease
- Value‑add opportunity through rent growth in free‑market units
- Located in the rapidly growing Bushwick neighborhood
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
$272,250
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
5.79%
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%
$5,445,000
$5.4M
Cap Rate 7%
$3,889,286
$3.9M
Cap Rate 9%
$3,025,000
$3.0M
Market Conditions
NOI Build-Up for 7,500 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
$495.0K $66.00/SF
− Vacancy
−$59.4K −$7.92/SF
EGI
$435.6K $58.08/SF
− OpEx
−$163.4K −$21.78/SF
NOI
$272.3K $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%
$5,445,000
Cap Rate 7%
$3,889,286
Cap Rate 9%
$3,025,000
Alternative Uses
Best Use
Mixed Use
$3.89M
$3.40M – $4.54M
NOI $272,250 @ 7.0% cap · market cap 5.79%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.21M
$5.43M – $7.25M
NOI $434,700 @ 7.0% cap · market cap 9.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
5,819
Businesses Nearby
Explore this area
Business Placement
Demographics for 11237, NY
49,418
Population
18,801
Households
2.6
Avg Household Size
31
Median Age
41%
College-Educated
76%
High-School Grad
1.0 sq mi
ZIP Area
49,418
Density / Sq Mi
$82,570
Median Household Income
$43,421
Median Earnings
$2,109
Median Rent
$1,063,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with retail and residential units in Brooklyn.
Where is this mixed-use property located?
The property is located at 137 Wyckoff Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $4,700,000.
What are key features of this property?
This property features: Stable income from long‑term Dunkin' lease; Value‑add opportunity through rent growth in free‑market units; Located in the rapidly growing Bushwick neighborhood
