Renovated Mixed-Use
For Sale
$3,700,000
137 Nevins Street, Brooklyn, NY 11217
Two residential units sit above a ground-floor commercial space with live/work flexibility and updated interiors.
Property Size4,500 SF
Price / SF$822.22
Days on Market85
Property Features for 137 Nevins Street
General Information
Standard status
Active
Size
4,500 SF
Property subtype
Multi Family
Additional Details
Floor
Ground Floor
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$4,506
Building Details
Building Size
4,500 SF
Year Built
1920
Buildings
1
Listing Agency:
R New York
(347) 860-0582
Listed By:
Dosta Dedic · License #10401251825
(347) 860-0582
Source:
Miradorrealestate
Added: May 30
Changed: Aug 20
Last Checked: Aug 21 at 10:58AM
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 R New York
Investment Insights
Based on property information with market context.
This 4,500-square-foot mixed-use building combines a ground-floor commercial space with two renovated residential units. The apartments are configured with two bedrooms each and include in-unit washers and dryers, dishwashers, new appliances, and private outdoor features. One residence includes a balcony, while the other offers a terrace and skylight. The property was built in 1920 and has undergone a full renovation.
Located at 137 Nevins Street in Brooklyn, the building is positioned near Boerum Hill, Cobble Hill, Carroll Gardens, and Downtown Brooklyn. Atlantic Avenue, Atlantic Terminal, multiple subway lines, restaurants, cafes, boutiques, and other neighborhood businesses are identified in the surrounding context. The commercial component is suited to retail, office, wellness, gallery, cafe, or creative use, subject to applicable requirements.
Located at 137 Nevins Street in Brooklyn, the building is positioned near Boerum Hill, Cobble Hill, Carroll Gardens, and Downtown Brooklyn. Atlantic Avenue, Atlantic Terminal, multiple subway lines, restaurants, cafes, boutiques, and other neighborhood businesses are identified in the surrounding context. The commercial component is suited to retail, office, wellness, gallery, cafe, or creative use, subject to applicable requirements.
Key Highlights
- 4,500‑square‑foot mixed‑use building with ground‑floor commercial space
- Two renovated residential units, each with two bedrooms
- In‑unit washers and dryers, dishwashers, and new appliances
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
$215,796
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
5.83%
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%
$4,315,920
$4.3M
Cap Rate 7%
$3,082,800
$3.1M
Cap Rate 9%
$2,397,733
$2.4M
Market Conditions
NOI Build-Up for 4,500 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
$349.9K $77.76/SF
− Vacancy
−$41.6K −$9.25/SF
EGI
$308.3K $68.51/SF
− OpEx
−$92.5K −$20.55/SF
NOI
$215.8K $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%
$4,315,920
Cap Rate 7%
$3,082,800
Cap Rate 9%
$2,397,733
Alternative Uses
Best Use
Retail
$3.08M
$2.70M – $3.60M
NOI $215,796 @ 7.0% cap · market cap 5.83%
Second Best
Mixed Use
$2.33M
$2.04M – $2.72M
NOI $163,350 @ 7.0% cap · market cap 4.41%
Theoretical Best
Specialty Retail
$3.73M
$3.26M – $4.35M
NOI $260,820 @ 7.0% cap · market cap 7.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
10,099
Businesses Nearby
Explore this area
Business Placement
Demographics for 11217, NY
42,417
Population
21,590
Households
2
Avg Household Size
36
Median Age
73%
College-Educated
93%
High-School Grad
0.7 sq mi
ZIP Area
60,596
Density / Sq Mi
$158,314
Median Household Income
$95,067
Median Earnings
$2,800
Median Rent
$1,614,200
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 - Two residential units sit above a ground-floor commercial space with live/work flexibility and updated interiors.
Where is this mixed-use property located?
The property is located at 137 Nevins Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,700,000.
What are key features of this property?
This property features: 4,500‑square‑foot mixed‑use building with ground‑floor commercial space; Two renovated residential units, each with two bedrooms; In‑unit washers and dryers, dishwashers, and new appliances
