Listing Agency: Commercial Acquisitions Realty Services Show Phone

Listed By: Arik Tal Show Phone

Source: Moodyscre

Added: Jul 7 Changed: Oct 4 Last Checked: Oct 16 at 11:13AM

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Investment Insights

Based on property information with market context.

Located at 1377 Flatbush Ave in Brooklyn, this mixed-use property offers two street exposures and a maximum buildable area of 21,944 SF. The existing asset is income producing and suited to mixed-use development or continued commercial operation.

The property is positioned along a residential and commercial corridor near public transportation. Its setting at 1377 Flatbush Ave, Brooklyn, NY 11210, places it among a range of surrounding amenities and supports convenient access for occupants and visitors.

Key Highlights

• Maximum buildable area of 21,944 SF
• Two street exposures
• Currently income producing

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$263,079

Cap Rate

6.66%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,261,580 $5.3M

Cap Rate 7%

$3,758,271 $3.8M

Cap Rate 9%

$2,923,100 $2.9M

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,486 SF

Gross rent

$426.6K $77.76/SF

− Vacancy

−$50.8K −$9.25/SF

EGI

$375.8K $68.51/SF

− OpEx

−$112.7K −$20.55/SF

NOI

$263.1K $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 Rate 5%

$5,261,580

Cap Rate 7%

$3,758,271

Cap Rate 9%

$2,923,100

Alternative Uses

Best Use

Retail

$3.76M

$3.29M – $4.38M (±1% cap)

NOI $263,079 @ 7.0% cap · market cap 6.66%

Second Best

Mixed Use

$2.84M

$2.49M – $3.32M (±1% cap)

NOI $199,142 @ 7.0% cap · market cap 5.04%

Theoretical Best

Specialty Retail

$4.54M

$3.97M – $5.30M (±1% cap)

NOI $317,969 @ 7.0% cap · market cap 8.05%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Footprints Cafe Express Restaurant Rasta Pasta Restaurant Keycafe Shopping Center & Mall

Suggested Use

Top Pick Law Firm Real Estate Agency Parking Lot & Garage Gym & Fitness Center Skin Care Clinic Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

3,945

Businesses Nearby

282k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Dining 56% Shops & Services 24% Groceries 11% Electronics 5%

Dallas BBQ Dining

46,854 visits/mo 0.4 miles

McDonald's Dining

40,645 visits/mo 0.4 miles

Chase Bank Shops & Services

25,765 visits/mo 0.5 miles

Popeyes Louisiana Kitchen Dining

19,495 visits/mo 0.4 miles

Fine Fare Groceries

18,771 visits/mo 0.2 miles

Demographics for 11210, NY

62,805

Population

22,817

Households

2.8

Avg Household Size

38

Median Age

39%

College-Educated

89%

High-School Grad

1.6 sq mi

ZIP Area

39,253

Density / Sq Mi

$83,261

Median Household Income

$50,286

Median Earnings

$1,734

Median Rent

$817,600

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Income-producing asset positioned near public transportation and neighborhood amenities.

Where is this mixed-use property located?

The property is located at 1377 Flatbush Ave Brooklyn, NY.

What is the asking price?

The asking price for this property is $3,950,000.

What are key features of this property?

This property features: Maximum buildable area of 21,944 SF; Two street exposures; Currently income producing