Prime 13th Avenue Commercial
For Sale
$3,800,000
4924 13th Ave, Brooklyn, NY 11219
Eight-unit mixed-use building in bustling Boro Park retail corridor.
Property Size5,400 SF
Price / SF$703.70
Days on Market120
Property Features for 4924 13th Ave
General Information
Standard status
Active
Size
5,400 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$31,714
Building Details
Building Size
5,400 SF
Year Built
1920
Stories
3
Listing Agency:
RE/MAX Real Estate Professiona
(718) 532-2000
Listed By:
Vito Angelo · License #BEA5721
(718) 532-2000
Source:
Elliman
Added: Apr 24
Changed: Aug 14
Last Checked: Aug 21 at 8:44AM
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 RE/MAX Real Estate Professiona
Investment Insights
Based on property information with market context.
Located in the heart of the high-traffic 13th Avenue in Boro Park, this three-story corner building offers a rare real estate opportunity. The solid brick building, with a size of 20x85 and 5400 square feet, is situated in the busiest retail and commercial corridor of Boro Park. Configured with eight commercial units, including four storefronts and four office spaces, the property is suitable for investment or for an owner-user looking to operate their own business while generating rental income. The building features two office spaces on the third floor, two office spaces on the second floor, and four highly visible storefronts on the first floor. A full finished basement provides additional income through storage use. Tenants are responsible for their own separate utilities. The property is located in a Walker's Paradise with a walk score of 94, and has excellent transit with a transit score of 78. It is also bikeable, with a bike score of 69.
Key Highlights
- Prime location on high‑traffic 13th Avenue in Boro Park's retail/commercial corridor.
- Eight commercial units: four storefronts and four office spaces.
- Large, solid brick corner building: 5400 sqft (20x85) and three stories.
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
$126,158
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
3.32%
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%
$2,523,160
$2.5M
Cap Rate 7%
$1,802,257
$1.8M
Cap Rate 9%
$1,401,756
$1.4M
Market Conditions
NOI Build-Up for 5,400 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
$226.8K $42.00/SF
− Vacancy
−$24.9K −$4.62/SF
EGI
$201.9K $37.38/SF
− OpEx
−$75.7K −$14.02/SF
NOI
$126.2K $23.36/SF
Area
ZIP 11219
Vacancy
11.00%
Lease Rate
$42.00 /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%
$2,523,160
Cap Rate 7%
$1,802,257
Cap Rate 9%
$1,401,756
Alternative Uses
Best Use
Mixed Use
$1.80M
$1.58M – $2.10M
NOI $126,158 @ 7.0% cap · market cap 3.32%
Second Best
Retail
$1.62M
$1.42M – $1.89M
NOI $113,672 @ 7.0% cap · market cap 2.99%
Theoretical Best
Office A
$3.50M
$3.06M – $4.08M
NOI $245,048 @ 7.0% cap · market cap 6.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
7,487
Businesses Nearby
30k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 77%
Dining 17%
Electronics 6%
Exxon
Shops & Services
8,096 visits/mo
0.4 miles
TD Bank
Shops & Services
6,617 visits/mo
0.2 miles
Golden Dragon
Dining
4,268 visits/mo
0.4 miles
FedEx Office Print & Ship Center
Shops & Services
3,716 visits/mo
0.3 miles
Citibank
Shops & Services
2,888 visits/mo
0.3 miles
Demographics for 11219, NY
103,447
Population
27,973
Households
3.7
Avg Household Size
27
Median Age
21%
College-Educated
70%
High-School Grad
1.5 sq mi
ZIP Area
68,965
Density / Sq Mi
$55,685
Median Household Income
$30,647
Median Earnings
$1,678
Median Rent
$1,086,000
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Eight-unit mixed-use building in bustling Boro Park retail corridor.
Where is this mixed-use property located?
The property is located at 4924 13th Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,800,000.
What are key features of this property?
This property features: Prime location on high‑traffic 13th Avenue in Boro Park's retail/commercial corridor.; Eight commercial units: four storefronts and four office spaces.; Large, solid brick corner building: 5400 sqft (20x85) and three stories.
