Mixed-Use Building with
1288 Herkimer St Brooklyn, NY 11233
For Sale
$1,500,000
Mixed-use property with two commercial and two residential units, one retail unit currently occupied.
Property Size3,880 SF
Lot Size0.04 Acres
Price / SF$386.60
Days on Market119
Property Features for 1288 Herkimer St
General Information
- Standard status
- Active
- Size
- 3,880 SF
- Lot size
- 0.04 Acres
- Property subtype
- Retail - Street Retail
Building Details
- Year Built
- 1924
Listing Agency:
Asset Commercial Realty Group
(347) 762-4055
Listed By:
Sadya Liberow
Source:
Commercialcafe
Added: Mar 28
Changed: Jul 23
Last Checked: Jul 23 at 6:02AM
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 Asset Commercial Realty Group
Investment Insights
Based on property information with market context.
1288 Herkimer St is a mixed-use building featuring two commercial units and two residential units. The residential units have been gutted, and the property offers a balanced configuration for continued repositioning, lease-up, or redevelopment planning. One commercial unit is currently occupied and can be delivered with a 5-year lease, while all other units will be delivered vacant.
Located in Ocean Hill within the Bedford-Stuyvesant/Bed-Stuy market area of Brooklyn, the property is near the Rockaway Avenue [C] subway station, providing direct transit access to Manhattan and surrounding Brooklyn neighborhoods. The surrounding area includes national and local retailers such as Dollar Tree, Dunkin’, and Dollar General, supporting regular day-to-day neighborhood activity.
The building contains approximately 3,880 built square feet on a 1,720 square foot lot, and is being offered for sale with both in-place and vacant space available for immediate occupancy planning.
Located in Ocean Hill within the Bedford-Stuyvesant/Bed-Stuy market area of Brooklyn, the property is near the Rockaway Avenue [C] subway station, providing direct transit access to Manhattan and surrounding Brooklyn neighborhoods. The surrounding area includes national and local retailers such as Dollar Tree, Dunkin’, and Dollar General, supporting regular day-to-day neighborhood activity.
The building contains approximately 3,880 built square feet on a 1,720 square foot lot, and is being offered for sale with both in-place and vacant space available for immediate occupancy planning.
Key Highlights
- Mixed‑use building (approx. 3,880 SF) on a 1,720 SF lot with 2 commercial units and 2 residential units
- One commercial unit is currently occupied and can be delivered with a 5‑year lease
- Three of the four units will be delivered vacant, supporting immediate lease‑up or repositioning
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $197.9k | $51.00 |
| − Vacancy | −$3.8k | −$0.97 |
| EGI | $194.1k | $50.03 |
| − OpEx | −$58.2k | −$15.01 |
| NOI | $135.9k | $35.02 |
3,880 SF · lease $51.00/SF/yr · vacancy 1.90% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.66M
$2.33M – $3.10M
NOI $186,064 @ 7.0% cap · market cap 12.40%
Second Best
Mixed Use
$2.01M
$1.76M – $2.35M
NOI $140,844 @ 7.0% cap · market cap 9.39%
Theoretical Best
Specialty Retail
$3.21M
$2.81M – $3.75M
NOI $224,885 @ 7.0% cap · market cap 14.99%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Tio Grocery
Grocery & Convenience Store
Miranda Deli & Grocery ...
Grocery & Convenience Store
FAQs
What type of property is this?
Mixed-use property - Mixed-use property with two commercial and two residential units, one retail unit currently occupied.
Where is this mixed-use property located?
The property is located at 1288 Herkimer St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Mixed‑use building (approx. 3,880 SF) on a 1,720 SF lot with 2 commercial units and 2 residential units; One commercial unit is currently occupied and can be delivered with a 5‑year lease; Three of the four units will be delivered vacant, supporting immediate lease‑up or repositioning
