Mixed-Use Brick Building with
For Sale
$929,000
9208 Avenue L, Brooklyn, NY 11236
Brick mixed-use building with retail on the first floor and two apartments on the second floor, zoned R5D/C1-3.
Property Size1,944 SF
Lot Size0.04 Acres
Price / SF$477.88
Days on Market599
Property Features for 9208 Avenue L
General Information
Standard status
Active
Size
1,944 SF
Lot size
0.04 Acres
Property subtype
Mixed Use
Zoning
R5D, C1-3
Additional Details
Cap Rate
6.7%
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,580
Amenities
3
Building Details
Year Built
1931
Stories
2
Construction
brick
Tenancy
Multi
Listing Agency:
Chase Global Realty Corp
(718) 355-8788
Listed By:
Chun Pak
(917) 807-7233
Source:
Xome
Added: Jan 18, 2025
Changed: Sep 8
Last Checked: Apr 24 at 8:09AM
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 Chase Global Realty Corp
Investment Insights
Based on property information with market context.
This mixed-use brick building is configured with one store on the first floor and two apartments on the second floor. The lot measures 18 ft by 90.5 ft, and the building size is 18 ft by 54 ft. The property is zoned R5D and C1-3.
The building is located in a high foot-traffic area on Avenue L near E 92nd St, with nearby bus stations, schools, and other commercial stores.
According to the public remarks, the property generates income with good-paying tenants, and features low real estate tax and maintenance fees. The remarks also state a capitalization rate over 6.7%.
The building is located in a high foot-traffic area on Avenue L near E 92nd St, with nearby bus stations, schools, and other commercial stores.
According to the public remarks, the property generates income with good-paying tenants, and features low real estate tax and maintenance fees. The remarks also state a capitalization rate over 6.7%.
Key Highlights
- Brick mixed‑use building with retail on the 1st floor and two apartments on the 2nd floor
- Lot size 18 ft x 90.5 ft and building size 18 ft x 54 ft
- Zoned R5D and C1‑3
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
$70,567
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
7.60%
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%
$1,411,340
$1.4M
Cap Rate 7%
$1,008,100
$1.0M
Cap Rate 9%
$784,078
$784.1K
Market Conditions
NOI Build-Up for 1,944 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
$128.3K $66.00/SF
− Vacancy
−$15.4K −$7.92/SF
EGI
$112.9K $58.08/SF
− OpEx
−$42.3K −$21.78/SF
NOI
$70.6K $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%
$1,411,340
Cap Rate 7%
$1,008,100
Cap Rate 9%
$784,078
Alternative Uses
Best Use
Retail
$1.33M
$1.17M – $1.55M
NOI $93,224 @ 7.0% cap · market cap 10.03%
Second Best
Mixed Use
$1.01M
$882.1K – $1.18M
NOI $70,567 @ 7.0% cap · market cap 7.60%
Theoretical Best
Specialty Retail
$1.61M
$1.41M – $1.88M
NOI $112,674 @ 7.0% cap · market cap 12.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,998
Businesses Nearby
Explore this area
Business Placement
Demographics for 11236, NY
100,687
Population
37,002
Households
2.7
Avg Household Size
40
Median Age
28%
College-Educated
88%
High-School Grad
3.6 sq mi
ZIP Area
27,969
Density / Sq Mi
$82,813
Median Household Income
$50,244
Median Earnings
$1,637
Median Rent
$710,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Brick mixed-use building with retail on the first floor and two apartments on the second floor, zoned R5D/C1-3.
Where is this mixed-use property located?
The property is located at 9208 Avenue L Brooklyn, NY.
What is the asking price?
The asking price for this property is $929,000.
What are key features of this property?
This property features: Brick mixed‑use building with retail on the 1st floor and two apartments on the 2nd floor; Lot size 18 ft x 90.5 ft and building size 18 ft x 54 ft; Zoned R5D and C1‑3
