Corner Mixed-Use Retail and
For Sale
$2,200,000
1056 Rogers Ave, Brooklyn, NY 11226
Fully renovated, 100% occupied corner building with three ground-floor commercial units over four residential apartments.
Property Size5,200 SF
Price / SF$423.08
Days on Market28
Property Features for 1056 Rogers Ave
General Information
Standard status
Active
Size
5,200 SF
Property subtype
Commercial
Occupancy
100%
Net Operating Income
$168,890
Financials
Asking Price
$2,200,000
Cap Rate
7.68%
Additional Details
Corner Location
Yes
Building Details
Building Size
5,200 SF
Year Renovated
2023
Buildings
1
Stories
3
Tenancy
Multi
Listing Agency:
Douglas Elliman Real Estate
(914) 391-7689
Listed By:
Jeffrey Kessler · License #10301223608
(914) 391-7689
Source:
Elliman
Added: Jul 28
Changed: Aug 12
Last Checked: Aug 23 at 5:38AM
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 Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
1056 Rogers Avenue is a fully renovated, 100% occupied mixed-use corner building with three stories of residential over ground-floor commercial. The property includes four residential apartments above three ground-floor commercial units, and it was gut-renovated in 2023 with a new roof, new boiler, and in-unit washer/dryers in all apartments.
The building is located on a high-visibility corner along the Rogers Avenue retail corridor in Flatbush, Brooklyn. Transit access includes proximity to the 2/5 express at Beverly Road, approximately four minutes on foot.
Commercial tenants reimburse water as added rent. Two of the three commercial leases expire by March 2027, and the third is month-to-month. Offers are reviewed upon receipt, with tours available by appointment.
The building is located on a high-visibility corner along the Rogers Avenue retail corridor in Flatbush, Brooklyn. Transit access includes proximity to the 2/5 express at Beverly Road, approximately four minutes on foot.
Commercial tenants reimburse water as added rent. Two of the three commercial leases expire by March 2027, and the third is month-to-month. Offers are reviewed upon receipt, with tours available by appointment.
Key Highlights
- Fully renovated 3‑story mixed‑use corner building in Flatbush, with 4 residential apartments over 3 ground‑floor commercial units
- Approximately 5,200 SF total; 100% occupied
- $168,890 net operating income and 7.68% in‑place cap rate at the $2,200,000 asking price (about $423/SF)
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
$131,813
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
5.99%
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%
$2,636,260
$2.6M
Cap Rate 7%
$1,883,043
$1.9M
Cap Rate 9%
$1,464,589
$1.5M
Market Conditions
NOI Build-Up for 5,200 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
$196.6K $37.80/SF
− Vacancy
−$8.3K −$1.59/SF
EGI
$188.3K $36.21/SF
− OpEx
−$56.5K −$10.86/SF
NOI
$131.8K $25.35/SF
Area
ZIP 11226
Vacancy
4.20%
Lease Rate
$37.80 /SF/Yr
Expense Ratio
30.00%
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%
$2,636,260
Cap Rate 7%
$1,883,043
Cap Rate 9%
$1,464,589
Alternative Uses
Best Use
Multifamily LT 5
$1.88M
$1.65M – $2.20M
NOI $131,813 @ 7.0% cap · market cap 5.99%
Second Best
Apartment 5plus
$1.74M
$1.52M – $2.03M
NOI $121,905 @ 7.0% cap · market cap 5.54%
Theoretical Best
Office A
$2.57M
$2.25M – $3.00M
NOI $179,912 @ 7.0% cap · market cap 8.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,917
Businesses Nearby
Explore this area
Business Placement
Demographics for 11226, NY
101,727
Population
42,618
Households
2.4
Avg Household Size
37
Median Age
36%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
78,252
Density / Sq Mi
$81,084
Median Household Income
$49,892
Median Earnings
$1,751
Median Rent
$866,300
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 - Fully renovated, 100% occupied corner building with three ground-floor commercial units over four residential apartments.
Where is this mixed-use property located?
The property is located at 1056 Rogers Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Fully renovated 3‑story mixed‑use corner building in Flatbush, with 4 residential apartments over 3 ground‑floor commercial units; Approximately 5,200 SF total; 100% occupied; $168,890 net operating income and 7.68% in‑place cap rate at the $2,200,000 asking price (about $423/SF)
