Brooklyn Mixed-Use New
For Sale
$6,500,000
2537 Ocean Avenue, Brooklyn, NY 11229
Seven-story mixed-use building with commercial and residential units for sale.
Property Size11,293 SF
Lot Size0.06 Acres
Days on Market139
Property Features for 2537 Ocean Avenue
General Information
Standard status
Active
Size
11,293 SF
Lot size
0.06 Acres
Property subtype
Street Retail
Building Details
Building Size
11,293 SF
Listing Agency:
Tri State Commercial Realty
Listed By:
Shlomi Bagdadi · License #10311204539
(718) 437-6100
Source:
Thebrokerlist
Added: May 21
Changed: Oct 5
Last Checked: Oct 5 at 2:59PM
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 Tri State Commercial Realty
Investment Insights
Based on property information with market context.
This is a seven-story mixed-use new development located in the Homecrest neighborhood of Brooklyn, situated between Avenue U and Avenue T, near the Avenue U subway station. The building features a total of two commercial units and ten residential units, consisting of seven free market units and three affordable housing units. The building is ADA compliant and includes elevator access. The ground floor offers access with a glass storefront and floor-to-ceiling windows. It will be delivered in vanilla box condition with an open floor plan, HVAC system, plumbing, and sprinklers in place. The property benefits from a grand signage opportunity, excellent street frontage, and high visibility in an area with high pedestrian and vehicle traffic. The location is characterized by a dense residential population and strong foot traffic, with close proximity to public transit, including the subway and major bus lines. The property is located within a heavy traffic corridor surrounded by strong urban activity. Nearby tenants include Subway, Chase Bank, Bank of America Financial Center, Estelle Lounge and Karaoke Bar, Tribeca Pediatrics, NYC Wound Care Center, Little Istanbul Restaurant, Ocean Deli Grocery Market inc, Early Childhood Special Education, Simply Sweet, Drink Meta Water Coolers, and Fast Fix Cell Phone Repair Service & Accessories. The lot dimensions are 25.33 x 110.
Key Highlights
- Prime location in the Homecrest neighborhood of Brooklyn with high pedestrian and vehicle traffic.
- Close proximity to public transit: Q train at Avenue U and the B49 & B3 bus lines.
- Mixed‑use new development with 2 commercial units and 10 residential units (7 Free Market & 3 Affordable Housing).
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$541,551
Cap Rate
8.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$10,831,020
$10.8M
Cap Rate 7%
$7,736,443
$7.7M
Cap Rate 9%
$6,017,233
$6.0M
Market Conditions
NOI Build-Up for 11,293 SF
Gross rent
$878.1K $77.76/SF
− Vacancy
−$104.5K −$9.25/SF
EGI
$773.6K $68.51/SF
− OpEx
−$232.1K −$20.55/SF
NOI
$541.6K $47.95/SF
Area
Brooklyn, NY
Vacancy
11.90%
Lease Rate
$77.76 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$10,831,020
Cap Rate 7%
$7,736,443
Cap Rate 9%
$6,017,233
Alternative Uses
Best Use
Retail
$7.74M
$6.77M – $9.03M
NOI $541,551 @ 7.0% cap · market cap 8.33%
Second Best
Mixed Use
$5.86M
$5.12M – $6.83M
NOI $409,936 @ 7.0% cap · market cap 6.31%
Theoretical Best
Specialty Retail
$9.35M
$8.18M – $10.91M
NOI $654,542 @ 7.0% cap · market cap 10.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,390
Businesses Nearby
70k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 61%
Shops & Services 30%
Electronics 9%
McDonald's
Dining
21,651 visits/mo
0.5 miles
TD Bank
Shops & Services
12,196 visits/mo
0.5 miles
Starbucks
Dining
9,533 visits/mo
0.5 miles
East West Bank
Shops & Services
6,307 visits/mo
0.4 miles
Luigi's Pizzeria
Dining
2,866 visits/mo
0.2 miles
Demographics for 11229, NY
83,669
Population
33,353
Households
2.5
Avg Household Size
40
Median Age
41%
College-Educated
88%
High-School Grad
2.0 sq mi
ZIP Area
41,835
Density / Sq Mi
$72,556
Median Household Income
$52,948
Median Earnings
$1,666
Median Rent
$812,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Seven-story mixed-use building with commercial and residential units for sale.
Where is this mixed-use property located?
The property is located at 2537 Ocean Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $6,500,000.
What are key features of this property?
This property features: Prime location in the Homecrest neighborhood of Brooklyn with high pedestrian and vehicle traffic.; Close proximity to public transit: Q train at Avenue U and the B49 & B3 bus lines.; Mixed‑use new development with 2 commercial units and 10 residential units (7 Free Market & 3 Affordable Housing).
