Mixed-Use Building with Church
For Sale
$1,399,000
2274 Pitkin Avenue, Brooklyn, NY 11207
Two upper-level apartments each provide three bedrooms and three bathrooms, with a private driveway serving the property.
Property Size2,829 SF
Price / SF$494.52
Days on Market605
Property Features for 2274 Pitkin Avenue
General Information
Standard status
Active
Size
2,829 SF
Property subtype
Commercial
Units
Unit Mix
2 x 3BR/3BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,387
Building Details
Building Size
2,829 SF
Year Built
2006
Stories
3
Listing Agency:
Akcess24Homes Inc
(718) 738-2425
Listed By:
Moheed Oasman
(718) 322-5800
Source:
Croninreale
Added: Feb 26, 2025
Changed: Oct 23
Last Checked: Oct 23 at 5:29PM
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 Akcess24Homes Inc
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Investment Insights
Based on property information with market context.
Built in 2006, this mixed-use property has a church on the ground floor and an apartment on each of the two floors above. Both apartments are configured with three bedrooms and three bathrooms. The building contains 2,829 square feet and occupies a corner location at 2274 Pitkin Avenue in Brooklyn.
A private driveway is included with the property, providing on-site access. The existing arrangement combines religious space with two residential units in a three-level building.
A private driveway is included with the property, providing on-site access. The existing arrangement combines religious space with two residential units in a three-level building.
Key Highlights
- 2,829‑square‑foot mixed‑use property
- Ground‑floor church with an apartment on each of the two upper floors
- Each apartment has 3 bedrooms and 3 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$102,693
Cap Rate
7.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,053,860
$2.1M
Cap Rate 7%
$1,467,043
$1.5M
Cap Rate 9%
$1,141,033
$1.1M
Market Conditions
NOI Build-Up for 2,829 SF
Gross rent
$186.7K $66.00/SF
− Vacancy
−$22.4K −$7.92/SF
EGI
$164.3K $58.08/SF
− OpEx
−$61.6K −$21.78/SF
NOI
$102.7K $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 Rate 5%
$2,053,860
Cap Rate 7%
$1,467,043
Cap Rate 9%
$1,141,033
Alternative Uses
Best Use
Mixed Use
$1.47M
$1.28M – $1.71M
NOI $102,693 @ 7.0% cap · market cap 7.34%
Second Best
Apartment 5plus
$1.23M
$1.08M – $1.44M
NOI $86,366 @ 7.0% cap · market cap 6.17%
Theoretical Best
Specialty Retail
$2.34M
$2.05M – $2.73M
NOI $163,969 @ 7.0% cap · market cap 11.72%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,159
Businesses Nearby
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Business Placement
Demographics for 11207, NY
100,330
Population
38,030
Households
2.6
Avg Household Size
35
Median Age
19%
College-Educated
81%
High-School Grad
2.7 sq mi
ZIP Area
37,159
Density / Sq Mi
$55,419
Median Household Income
$41,008
Median Earnings
$1,443
Median Rent
$657,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two upper-level apartments each provide three bedrooms and three bathrooms, with a private driveway serving the property.
Where is this mixed-use property located?
The property is located at 2274 Pitkin Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,399,000.
What are key features of this property?
This property features: 2,829‑square‑foot mixed‑use property; Ground‑floor church with an apartment on each of the two upper floors; Each apartment has 3 bedrooms and 3 bathrooms
