Mixed-Use Building with
For Sale
$2,250,000
1260 Myrtle Avenue, Brooklyn, NY 11221
Residential Income, Brooklyn, NY
Property Size4,359 SF
Lot Size0.04 Acres
Price / SF$516.17
Days on Market81
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 7, Bedroom 1, Bedroom 6, Bedroom 8, Bedroom 4, Bathroom 3, Bedroom 2, Bathroom 5, Bedroom 5, Bathroom 2, Bathroom 4, Bedroom 3, Bathroom 1
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
(815) 252-4110
Added: Jul 13
Changed: Sep 15
Last Checked: Oct 1 at 2:06PM
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 mixed-use building contains approximately 4,359 square feet on a 29-foot-wide lot and dates to 1930. The property is fully occupied, with four renovated free-market apartments over a ground-floor bar and lounge operated by a commercial tenant under a long-term lease. Hardwood flooring and a patio are among the recorded features. The second floor provides access to an unused balcony that may support future outdoor space, while separate rear access serves the residential units and a distinct entrance provides added separation from the commercial space.
The property is zoned R6 / C2-3 and carries Protected Tax Class 2A. It is near the Central Avenue M train and within walking distance of the Myrtle Avenue J/M/Z station. Restaurants, cafés, nightlife, and neighborhood retail surround the property. In-place capitalization is 7.85%, with a stated potential capitalization rate of 9.33%.
The property is zoned R6 / C2-3 and carries Protected Tax Class 2A. It is near the Central Avenue M train and within walking distance of the Myrtle Avenue J/M/Z station. Restaurants, cafés, nightlife, and neighborhood retail surround the property. In-place capitalization is 7.85%, with a stated potential capitalization rate of 9.33%.
Key Highlights
- Approximately 4,359 SF mixed‑use building on a 29‑foot‑wide lot
- Four renovated free‑market apartments above a ground‑floor bar and lounge
- 100% occupied with a long‑term commercial lease in place
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
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 renovated 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: Approximately 4,359 SF mixed‑use building on a 29‑foot‑wide lot; Four renovated free‑market apartments above a ground‑floor bar and lounge; 100% occupied with a long‑term commercial lease in place
