Mixed-Use Building with Turnkey
For Sale
$3,499,000
137 7th Avenue, Brooklyn, NY 11215
Mixed-use property with six studios and a fully equipped rustic pizza/bakery business.
Property Size3,584 SF
Price / SF$976.28
Days on Market56
Property Features for 137 7th Avenue
General Information
Standard status
Active
Size
3,584 SF
Property subtype
Mixed Use
Additional Details
Furnished
Yes
Business Included
Yes
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$24,282
Building Details
Building Size
3,584 SF
Year Built
1920
Listing Agency:
RE/MAX Real Estate Professiona
Listed By:
Vito Angelo · License #VITLO524
(718) 532-2000
Source:
Penrealty
Added: Jul 14
Changed: Aug 31
Last Checked: Sep 7 at 7:52AM
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 RE/MAX Real Estate Professiona
Investment Insights
Based on property information with market context.
This mixed-use property includes six studio apartments and a turnkey restaurant operation configured as a rustic pizza/bakery. The commercial space is described as fully equipped, with machinery and fixtures included, along with the established business.
Located at 137 7th Ave in Brooklyn, NY 11215, the asset combines residential rental units with an income-producing food and beverage component.
Located at 137 7th Ave in Brooklyn, NY 11215, the asset combines residential rental units with an income-producing food and beverage component.
Key Highlights
- Built in 1920 mixed‑use building featuring six studio apartments.
- Includes a fully equipped rustic pizza/bakery business with established machinery and fixtures.
- Commercial space is delivered equipped for operations, including business setup.
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
$207,729
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
5.94%
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%
$4,154,580
$4.2M
Cap Rate 7%
$2,967,557
$3.0M
Cap Rate 9%
$2,308,100
$2.3M
Market Conditions
NOI Build-Up for 3,584 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
$301.1K $84.00/SF
− Vacancy
−$24.1K −$6.72/SF
EGI
$277.0K $77.28/SF
− OpEx
−$69.2K −$19.32/SF
NOI
$207.7K $57.96/SF
Area
Brooklyn, NY
Vacancy
8.00%
Lease Rate
$84.00 /SF/Yr
Expense Ratio
25.00%
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%
$4,154,580
Cap Rate 7%
$2,967,557
Cap Rate 9%
$2,308,100
Alternative Uses
Best Use
Specialty Retail
$2.97M
$2.60M – $3.46M
NOI $207,729 @ 7.0% cap · market cap 5.94%
Second Best
Apartment 5plus
$1.56M
$1.37M – $1.82M
NOI $109,416 @ 7.0% cap · market cap 3.13%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
8,014
Businesses Nearby
Explore this area
Business Placement
Demographics for 11215, NY
67,493
Population
32,197
Households
2.1
Avg Household Size
37
Median Age
80%
College-Educated
96%
High-School Grad
2.2 sq mi
ZIP Area
30,679
Density / Sq Mi
$180,773
Median Household Income
$99,151
Median Earnings
$2,803
Median Rent
$1,674,700
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 - Mixed-use property with six studios and a fully equipped rustic pizza/bakery business.
Where is this apartment building located?
The property is located at 137 7th Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,499,000.
What are key features of this property?
This property features: Built in 1920 mixed‑use building featuring six studio apartments.; Includes a fully equipped rustic pizza/bakery business with established machinery and fixtures.; Commercial space is delivered equipped for operations, including business setup.
