Mixed-Use Building with
1288 Herkimer St Brooklyn, NY 11233
For Sale
Contact for pricing
Mixed-use building with two gutted residential units over a storefront and vacant garage near Rockaway Ave Subway Station.
Property Size3,880 SF
Lot Size0.04 Acres
Price / SF$347.94
Days on Market45
Property Features for 1288 Herkimer St
General Information
- Standard status
- Active
- Size
- 3,880 SF
- Lot size
- 0.04 Acres
- Property subtype
- RETAIL
Listing Agency:
Asset Commercial Realty Group
(347) 762-4055
Listed By:
Sadya Liberow
(347) 762-4055
Source:
Moodyscre
Added: Jun 11
Changed: Jul 23
Last Checked: Jul 23 at 6:36PM
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.
This mixed-use building is currently configured as two apartments over a store, with an additional vacant garage. The two residential units have been gutted and feature open layouts, creating an adaptable interior for future finish-out.
The property is located in the Ocean Hill section of Brooklyn, near the Rockaway Ave [C] Subway Station. It is also close to major retailers including Dollar Tree, Dunkin', and Dollar General.
The building totals 3,880 built square feet on a 1,720 square foot lot, offering a straightforward mixed-use setup with both retail and residential components.
The property is located in the Ocean Hill section of Brooklyn, near the Rockaway Ave [C] Subway Station. It is also close to major retailers including Dollar Tree, Dunkin', and Dollar General.
The building totals 3,880 built square feet on a 1,720 square foot lot, offering a straightforward mixed-use setup with both retail and residential components.
Key Highlights
- Mixed‑use building with 3,880 built SF on a 1,720 SF lot
- Currently configured as 2 apartments over a store and a vacant garage
- The 2 residential units are gutted with open layouts
Financial Insights For Apartment 5plus
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 | $219.8k | $56.64 |
| − Vacancy | −$4.4k | −$1.13 |
| EGI | $215.4k | $55.51 |
| − OpEx | −$96.9k | −$24.98 |
| NOI | $118.5k | $30.53 |
3,880 SF · lease $56.64/SF/yr · vacancy 2.00% · expense 45.00%
Alternative Uses
Best Use
Retail
$2.66M
$2.33M – $3.10M
NOI $186,064 @ 7.0% cap · market cap 13.78%
Second Best
Mixed Use
$2.01M
$1.76M – $2.35M
NOI $140,844 @ 7.0% cap · market cap 10.43%
Theoretical Best
Specialty Retail
$3.21M
$2.81M – $3.75M
NOI $224,885 @ 7.0% cap · market cap 16.66%
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 building with two gutted residential units over a storefront and vacant garage near Rockaway Ave Subway Station.
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 $1,350,000.
What are key features of this property?
This property features: Mixed‑use building with 3,880 built SF on a 1,720 SF lot; Currently configured as 2 apartments over a store and a vacant garage; The 2 residential units are gutted with open layouts
