Corner Mixed-Use
New
For Sale
Contact for pricing
1254 Broadway, Brooklyn, NY 11221
Four-story configuration combines residential units with a ground-floor deli.
Property Size6,000 SF
Price / SF$408.33
Days on Market5
Property Features for 1254 Broadway
General Information
Standard status
Active
Size
6,000 SF
Property subtype
Mixed Use
Site & Location
Corner Location
Yes
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
3 x 4BR/2BA
Multifamily Units
3
Additional Details
Average Monthly Rent
$3,600
Amenities
in-unit washer/dryer
Building Details
Buildings
1
Stories
4
Tenancy
Multi
Listing Agency:
Bijou Equities LLC
Listed By:
Fred Bijou · License #NY 10491211264
Source:
Crexi
Added: Sep 7
Changed: Sep 9
Last Checked: Sep 10 at 5:53AM
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 Bijou Equities LLC
Investment Insights
Based on property information with market context.
This four-story mixed-use building contains 6,000 SF with three full-floor residential apartments above a ground-floor deli. Each apartment offers four bedrooms, two bathrooms, and an in-unit washer/dryer. The deli operates under a long-term lease extending through 2034, with 33% expense reimbursements and 3% annual increases. The property is presented at an 8% cap rate.
The building occupies a corner along the Broadway retail corridor at Greene and Lexington Avenues in Brooklyn. J and Z train service is located at Kosciuszko Street and Gates Avenue. The residential units are currently leased below stated market rents, creating a documented rent-positioning opportunity as apartments turn over.
The building occupies a corner along the Broadway retail corridor at Greene and Lexington Avenues in Brooklyn. J and Z train service is located at Kosciuszko Street and Gates Avenue. The residential units are currently leased below stated market rents, creating a documented rent-positioning opportunity as apartments turn over.
Key Highlights
- 6,000 SF, four‑story mixed‑use building
- Three full‑floor apartments, each with 4 bedrooms and 2 bathrooms
- In‑unit washer/dryer in all three 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
$217,800
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
8.89%
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%
$4,356,000
$4.4M
Cap Rate 7%
$3,111,429
$3.1M
Cap Rate 9%
$2,420,000
$2.4M
Market Conditions
NOI Build-Up for 6,000 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
$396.0K $66.00/SF
− Vacancy
−$47.5K −$7.92/SF
EGI
$348.5K $58.08/SF
− OpEx
−$130.7K −$21.78/SF
NOI
$217.8K $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%
$4,356,000
Cap Rate 7%
$3,111,429
Cap Rate 9%
$2,420,000
Alternative Uses
Best Use
Retail
$4.11M
$3.60M – $4.80M
NOI $287,728 @ 7.0% cap · market cap 11.74%
Second Best
Mixed Use
$3.11M
$2.72M – $3.63M
NOI $217,800 @ 7.0% cap · market cap 8.89%
Theoretical Best
Specialty Retail
$4.97M
$4.35M – $5.80M
NOI $347,760 @ 7.0% cap · market cap 14.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
4,026
Businesses Nearby
Explore this area
Business Placement
Demographics for 11221, NY
89,222
Population
38,690
Households
2.3
Avg Household Size
33
Median Age
42%
College-Educated
84%
High-School Grad
1.4 sq mi
ZIP Area
63,730
Density / Sq Mi
$85,122
Median Household Income
$49,202
Median Earnings
$2,055
Median Rent
$1,061,400
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 Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Four-story configuration combines residential units with a ground-floor deli.
Where is this mixed-use property located?
The property is located at 1254 Broadway Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,450,000.
What are key features of this property?
This property features: 6,000 SF, four‑story mixed‑use building; Three full‑floor apartments, each with 4 bedrooms and 2 bathrooms; In‑unit washer/dryer in all three residential units
