Mixed-Use Corner
For Sale
Contact for pricing
551 Gates Avenue, Brooklyn, NY 11216
Three-story brick mixed-use corner building with two renovated residential units and three in-place retail tenants.
Property Size4,000 SF
Days on Market119
Property Features for 551 Gates Avenue
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Mixed Use
Occupancy
100%
Additional Details
Cap Rate
6%
Multifamily Units
2
Building Details
Stories
3
Tenancy
Multi
Listing Agency:
TerraCRG
Listed By:
Matt Cosentino · License #NY 10301205679
Source:
Crexi
Added: Apr 12
Changed: Aug 8
Last Checked: Jul 20 at 7:26PM
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 TerraCRG
Investment Insights
Based on property information with market context.
Located on a corner at the intersection of Tompkins and Gates Avenue in Bed-Stuy, this three-story wrap-around brick mixed-use building combines residential income with retail tenancy. The property includes two floor-through Free Market residential units, which have been renovated into three-bedroom, one-and-a-half-bath layouts. One unit also features a large outdoor terrace space.
The first through third levels also support three in-place retail tenants. The building totals approximately 4,000 gross square feet and carries a reported gross rent roll of $157,535 and NOI of $131,979.
Transportation access includes being a few blocks from the Nostrand Avenue station, with service options that include the G train, as well as the local C and express A trains at Nostrand Avenue and Fulton Avenue.
The first through third levels also support three in-place retail tenants. The building totals approximately 4,000 gross square feet and carries a reported gross rent roll of $157,535 and NOI of $131,979.
Transportation access includes being a few blocks from the Nostrand Avenue station, with service options that include the G train, as well as the local C and express A trains at Nostrand Avenue and Fulton Avenue.
Key Highlights
- Three‑story wrap‑around brick corner mixed‑use building at 551 Gates Avenue (intersection of Tompkins and Gates Avenue) in Bed‑Stuy, Brooklyn
- Two floor‑through renovated 3‑bedroom, 1.5‑bath residential units, one with a large outdoor terrace
- 3 in‑place retail tenants on the property
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,964
Businesses Nearby
Explore this area
Business Placement
Demographics for 11216, NY
61,251
Population
28,825
Households
2.1
Avg Household Size
34
Median Age
56%
College-Educated
91%
High-School Grad
1.0 sq mi
ZIP Area
61,251
Density / Sq Mi
$95,000
Median Household Income
$61,389
Median Earnings
$2,180
Median Rent
$1,398,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-story brick mixed-use corner building with two renovated residential units and three in-place retail tenants.
Where is this mixed-use property located?
The property is located at 551 Gates Avenue Brooklyn, NY.
What are key features of this property?
This property features: Three‑story wrap‑around brick corner mixed‑use building at 551 Gates Avenue (intersection of Tompkins and Gates Avenue) in Bed‑Stuy, Brooklyn; Two floor‑through renovated 3‑bedroom, 1.5‑bath residential units, one with a large outdoor terrace; 3 in‑place retail tenants on the property
