Mixed-Use Building with Retail and
For Sale
$1,599,000
Pending
140 JAMAICA Ave, Brooklyn, NY 11207
2009-built mixed-use property with two first-floor retail spaces, two apartments above, and an open basement with OSE.
Property Size3,730 SF
Days on Market104
Property Features for 140 JAMAICA Ave
General Information
Standard status
Pending
Size
3,730 SF
Property subtype
Commercial
Units
Multifamily Units
2
Office Units
2
Taxes and HOA fees
Annual Taxes
$7,176
Amenities
brick and block construction
outside separate entrance
private driveway
Building Details
Building Size
3,730 SF
Year Built
2009
Stories
2
Units
4
Construction
brick and block
Listing Agency:
Elite Realty of USA Inc
(718) 757-8983
Listed By:
Reshma Persaud · License #NY10301219700
(718) 757-8983
Source:
Elliman
Added: Apr 28
Changed: Aug 8
Last Checked: Aug 8 at 1:19PM
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 Elite Realty of USA Inc
Investment Insights
Based on property information with market context.
Built in 2009, this mixed-use building features steel fabrication with brick and block construction. The first floor is configured with two commercial spaces, while the second floor contains two residential units: one 3-bedroom and one 2-bedroom apartment. Below, the huge open basement offers 10-foot ceilings and an outside separate entrance (OSE), providing flexibility for future use or expansion.
A private driveway adds day-to-day convenience for residents and tenants. The structure is also described as being designed to accommodate an additional floor if desired. Located at 140 Jamaica Ave in Brooklyn, NY 11207, the property is reported to score strongly for walkability and transit access.
Overall, the building presents a straightforward income mix with street-level retail and residential units above, supported by substantial basement volume and an OSE for practical operational options.
A private driveway adds day-to-day convenience for residents and tenants. The structure is also described as being designed to accommodate an additional floor if desired. Located at 140 Jamaica Ave in Brooklyn, NY 11207, the property is reported to score strongly for walkability and transit access.
Overall, the building presents a straightforward income mix with street-level retail and residential units above, supported by substantial basement volume and an OSE for practical operational options.
Key Highlights
- 2009‑built mixed‑use building with steel fabrication, brick, and block construction
- Two commercial spaces on the first floor
- Second‑floor layout includes two residential units: one 3‑bedroom and one 2‑bedroom
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
$135,399
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
8.47%
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%
$2,707,980
$2.7M
Cap Rate 7%
$1,934,271
$1.9M
Cap Rate 9%
$1,504,433
$1.5M
Market Conditions
NOI Build-Up for 3,730 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
$246.2K $66.00/SF
− Vacancy
−$29.5K −$7.92/SF
EGI
$216.6K $58.08/SF
− OpEx
−$81.2K −$21.78/SF
NOI
$135.4K $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%
$2,707,980
Cap Rate 7%
$1,934,271
Cap Rate 9%
$1,504,433
Alternative Uses
Best Use
Retail
$2.56M
$2.24M – $2.98M
NOI $178,871 @ 7.0% cap · market cap 11.19%
Second Best
Mixed Use
$1.93M
$1.69M – $2.26M
NOI $135,399 @ 7.0% cap · market cap 8.47%
Theoretical Best
Specialty Retail
$3.09M
$2.70M – $3.60M
NOI $216,191 @ 7.0% cap · market cap 13.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,452
Businesses Nearby
Explore this area
Business Placement
Demographics for 11207, NY
100,330
Population
38,030
Households
2.6
Avg Household Size
35
Median Age
19%
College-Educated
81%
High-School Grad
2.7 sq mi
ZIP Area
37,159
Density / Sq Mi
$55,419
Median Household Income
$41,008
Median Earnings
$1,443
Median Rent
$657,400
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 - 2009-built mixed-use property with two first-floor retail spaces, two apartments above, and an open basement with OSE.
Where is this mixed-use property located?
The property is located at 140 JAMAICA Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,599,000.
What are key features of this property?
This property features: 2009‑built mixed‑use building with steel fabrication, brick, and block construction; Two commercial spaces on the first floor; Second‑floor layout includes two residential units: one 3‑bedroom and one 2‑bedroom
