Mixed-Use Brick Building with
For Sale
Contact for pricing
135 Grand Street, Brooklyn, NY 11249
Brick mixed-use building with ground-floor retail and multiple residential units plus an owner-reserved full basement.
Property Size5,500 SF
Price / SF$818.18
Days on Market62
Property Features for 135 Grand Street
General Information
Standard status
Active
Size
5,500 SF
Class
C
Property subtype
Retail, Multifamily, Mixed Use
Zoning
R6B C2-4
Occupancy
100%
Additional Details
Multifamily Units
6
Building Details
Year Built
1928
Year Renovated
2016
Buildings
1
Units
7
Tenancy
Multi
Listing Agency:
William Green Real Estate
Listed By:
Michal Kuras · License #NY 10351209048
Source:
Crexi
Added: Jun 13
Changed: Aug 8
Last Checked: Aug 12 at 5:02AM
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 William Green Real Estate
Investment Insights
Based on property information with market context.
This expansive brick building offers more than 25 feet of frontage and includes 5,500 square feet above grade, along with a full basement reserved for the owner. The building’s layout features 6 residential units and 1 large, highly visible retail space. Three of the residential units have been upgraded with dishwashers, while the owner’s basement presents flexible storage or shared-use opportunities such as tenant storage cages or a communal laundry room.
The ground floor includes a new short-term retail tenant, providing current income while leaving flexibility for the next owner. The property is located near major neighborhood anchors including Whole Foods, Apple, WeWork, and Equinox. It is also described as a brief 3-block stroll to the Williamsburg waterfront. For commuting, the remarks note a 5-minute walk to the Marcy Ave J/M/Z station and a 7-block walk to the Bedford Ave L train station.
For buyers or operators, the combination of residential and retail use can support diversified building operations. The unit mix includes rent-stabilized residential units, and the remarks state that legal rents are higher than the current preferential rents, which is presented as a potential pathway toward increasing returns over time. The visible retail component may also align well with tenants seeking strong street presence.
The ground floor includes a new short-term retail tenant, providing current income while leaving flexibility for the next owner. The property is located near major neighborhood anchors including Whole Foods, Apple, WeWork, and Equinox. It is also described as a brief 3-block stroll to the Williamsburg waterfront. For commuting, the remarks note a 5-minute walk to the Marcy Ave J/M/Z station and a 7-block walk to the Bedford Ave L train station.
For buyers or operators, the combination of residential and retail use can support diversified building operations. The unit mix includes rent-stabilized residential units, and the remarks state that legal rents are higher than the current preferential rents, which is presented as a potential pathway toward increasing returns over time. The visible retail component may also align well with tenants seeking strong street presence.
Key Highlights
- 1928 brick mixed‑use building with wide frontage over 25 feet
- 5,500 SF above grade plus a full basement reserved for the owner
- 7 total units: 6 residential units and 1 large, highly visible retail space
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
$263,750
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
5.86%
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%
$5,275,000
$5.3M
Cap Rate 7%
$3,767,857
$3.8M
Cap Rate 9%
$2,930,556
$2.9M
Market Conditions
NOI Build-Up for 5,500 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
$427.7K $77.76/SF
− Vacancy
−$50.9K −$9.25/SF
EGI
$376.8K $68.51/SF
− OpEx
−$113.0K −$20.55/SF
NOI
$263.8K $47.95/SF
Area
Brooklyn, NY
Vacancy
11.90%
Lease Rate
$77.76 /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%
$5,275,000
Cap Rate 7%
$3,767,857
Cap Rate 9%
$2,930,556
Alternative Uses
Best Use
Retail
$3.77M
$3.30M – $4.40M
NOI $263,750 @ 7.0% cap · market cap 5.86%
Second Best
Apartment 5plus
$2.40M
$2.10M – $2.80M
NOI $167,909 @ 7.0% cap · market cap 3.73%
Theoretical Best
Specialty Retail
$4.55M
$3.98M – $5.31M
NOI $318,780 @ 7.0% cap · market cap 7.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
7,415
Businesses Nearby
Explore this area
Business Placement
Demographics for 11249, NY
42,024
Population
18,958
Households
2.2
Avg Household Size
31
Median Age
59%
College-Educated
89%
High-School Grad
0.7 sq mi
ZIP Area
60,034
Density / Sq Mi
$121,400
Median Household Income
$81,638
Median Earnings
$2,982
Median Rent
$1,326,700
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?
Apartment building - Brick mixed-use building with ground-floor retail and multiple residential units plus an owner-reserved full basement.
Where is this apartment building located?
The property is located at 135 Grand Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: 1928 brick mixed‑use building with wide frontage over 25 feet; 5,500 SF above grade plus a full basement reserved for the owner; 7 total units: 6 residential units and 1 large, highly visible retail space
