Mixed-Use Building With
For Sale
$2,250,000
1260 Myrtle Avenue, Brooklyn, NY 11221
MULTI_FAMILY - Brooklyn, NY
Property Size4,359 SF
Lot Size0.04 Acres
Price / SF$516.17
Days on Market30
Property Features for 1260 Myrtle Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Bathrooms
5
Full bathrooms
4
Half bathrooms
1
Rooms
Bedroom 3, Bathroom 2, Bedroom 8, Bedroom 1, Bathroom 1, Bathroom 4, Bedroom 5, Bathroom 5, Bedroom 4, Bedroom 2, Bedroom 7, Bathroom 3, Bedroom 6
Patio and Porch features
Patio
Subdivision
Bushwick
Standard status
Active
Size
4,359 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
4694
Amenities
balcony
separate residential entrance
Building Details
Year built
1930
Flooring type
Hardwood
Listing Agency:
EVERGREEN REALTY & INVESTMENTS
(646) 838-1378
Listed By:
Emma Barattini
(646) 838-1378
Added: Jul 13
Changed: Aug 6
Last Checked: Aug 11 at 10:06PM
MLS# 11883485
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 4,359-square-foot mixed-use building combines four renovated free-market apartments with an established bar and lounge at street level. The property is 100% occupied, with the commercial tenant secured by a long-term lease. Residential access is separated from the commercial space, and the block-through layout provides a second rear street entrance for the apartments. A second-floor balcony is currently unused and offers outdoor space potential. Hardwood flooring and a patio are included among the property features.
The building sits near Central Avenue’s M train and within walking distance of the Myrtle Avenue J/M/Z station. Surrounding uses include restaurants, cafes, nightlife, and neighborhood retail. The property carries R6/C2-3 zoning and Protected Tax Class 2A status. In-place cap rate is 7.85%, with a potential cap rate of 9.33%.
The building sits near Central Avenue’s M train and within walking distance of the Myrtle Avenue J/M/Z station. Surrounding uses include restaurants, cafes, nightlife, and neighborhood retail. The property carries R6/C2-3 zoning and Protected Tax Class 2A status. In-place cap rate is 7.85%, with a potential cap rate of 9.33%.
Key Highlights
- Four renovated free‑market apartments above an established bar and lounge
- 4,359 SF mixed‑use building on a 29‑foot‑wide lot
- 100% occupied with a long‑term lease for the ground‑floor commercial space
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
$158,232
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
7.03%
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%
$3,164,640
$3.2M
Cap Rate 7%
$2,260,457
$2.3M
Cap Rate 9%
$1,758,133
$1.8M
Market Conditions
NOI Build-Up for 4,359 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
$287.7K $66.00/SF
− Vacancy
−$34.5K −$7.92/SF
EGI
$253.2K $58.08/SF
− OpEx
−$94.9K −$21.78/SF
NOI
$158.2K $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%
$3,164,640
Cap Rate 7%
$2,260,457
Cap Rate 9%
$1,758,133
Alternative Uses
Best Use
Specialty Retail
$3.61M
$3.16M – $4.21M
NOI $252,648 @ 7.0% cap · market cap 11.23%
Second Best
Mixed Use
$2.26M
$1.98M – $2.64M
NOI $158,232 @ 7.0% cap · market cap 7.03%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
6,013
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Four renovated free-market apartments are positioned above an established bar and lounge with a long-term commercial lease.
Where is this mixed-use property located?
The property is located at 1260 Myrtle Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: Four renovated free‑market apartments above an established bar and lounge; 4,359 SF mixed‑use building on a 29‑foot‑wide lot; 100% occupied with a long‑term lease for the ground‑floor commercial space
