Mixed-Use Brick Apartment
For Sale
Contact for pricing
141 Tompkins Avenue, Brooklyn, NY 11206
Three-story brick mixed-use property with legal residential units and an on-site commercial space.
Property Size2,451 SF
Price / SF$632.39
Days on Market147
Property Features for 141 Tompkins Avenue
General Information
Standard status
Active
Size
2,451 SF
Property subtype
Multifamily, Retail, Mixed Use
Zoning
R6A, C2-4
Occupancy
33%
Investment Type
Redevelopment
Additional Details
Multifamily Units
6
Building Details
Year Built
1931
Buildings
1
Stories
3
Tenancy
Multi
Listing Agency:
Evergreen Realty and Investments
Listed By:
Daniel Barcelowsky · License #NY
(646) 373-7944
Source:
Crexi
Added: Jun 3
Changed: Oct 26
Last Checked: Oct 26 at 4:24PM
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 Evergreen Realty and Investments
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Investment Insights
Based on property information with market context.
This three-story brick mixed-use building is currently configured as six residential units, with front and rear apartments. The legal use consists of two residential units and one commercial space. The property presents an opportunity for reconfiguration and/or redevelopment, subject to applicable legal requirements and approvals, including potential conversion to a legal four-unit building with ground-floor retail.
Zoning is listed as R6A and C2-4, with a 1.41 FAR currently utilized. The data also notes approximately 2,767 SF of additional buildable area available. The remarks further indicate potential air-rights redevelopment for up to nine residential units, with an anticipated mix of seven free-market apartments and two inclusionary housing units, subject to architect review and approvals.
Set in the Bed-Stuy area and described as close to the Myrtle Avenue retail corridor, the building is noted as having convenient access to the J, M & Z trains. With a blend of residential income space and a legal commercial component, this asset may suit an owner-user, value-add operator, or a buyer focused on redevelopment planning. Buyers should conduct their own due diligence regarding legal use, current configuration, zoning compliance, and future development potential.
Zoning is listed as R6A and C2-4, with a 1.41 FAR currently utilized. The data also notes approximately 2,767 SF of additional buildable area available. The remarks further indicate potential air-rights redevelopment for up to nine residential units, with an anticipated mix of seven free-market apartments and two inclusionary housing units, subject to architect review and approvals.
Set in the Bed-Stuy area and described as close to the Myrtle Avenue retail corridor, the building is noted as having convenient access to the J, M & Z trains. With a blend of residential income space and a legal commercial component, this asset may suit an owner-user, value-add operator, or a buyer focused on redevelopment planning. Buyers should conduct their own due diligence regarding legal use, current configuration, zoning compliance, and future development potential.
Key Highlights
- Three‑story brick mixed‑use building built in 1931 with legal use of two residential units and one commercial space
- Currently configured as six residential units plus front and rear apartments, with potential conversion to a legal four‑unit building with ground‑floor retail
- R6A / C2‑4 zoning with 1.41 FAR currently utilized and approximately 2,767 SF of additional buildable area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$117,537
Cap Rate
7.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,350,740
$2.4M
Cap Rate 7%
$1,679,100
$1.7M
Cap Rate 9%
$1,305,967
$1.3M
Market Conditions
NOI Build-Up for 2,451 SF
Gross rent
$190.6K $77.76/SF
− Vacancy
−$22.7K −$9.25/SF
EGI
$167.9K $68.51/SF
− OpEx
−$50.4K −$20.55/SF
NOI
$117.5K $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%
$2,350,740
Cap Rate 7%
$1,679,100
Cap Rate 9%
$1,305,967
Alternative Uses
Best Use
Retail
$1.68M
$1.47M – $1.96M
NOI $117,537 @ 7.0% cap · market cap 7.58%
Second Best
Multifamily LT 5
$1.23M
$1.07M – $1.43M
NOI $85,838 @ 7.0% cap · market cap 5.54%
Theoretical Best
Specialty Retail
$2.03M
$1.78M – $2.37M
NOI $142,060 @ 7.0% cap · market cap 9.17%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
5,984
Businesses Nearby
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Business Placement
Demographics for 11206, NY
91,549
Population
34,838
Households
2.6
Avg Household Size
30
Median Age
36%
College-Educated
77%
High-School Grad
1.4 sq mi
ZIP Area
65,392
Density / Sq Mi
$57,280
Median Household Income
$44,145
Median Earnings
$1,558
Median Rent
$822,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Three-story brick mixed-use property with legal residential units and an on-site commercial space.
Where is this duplex located?
The property is located at 141 Tompkins Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Three‑story brick mixed‑use building built in 1931 with legal use of two residential units and one commercial space; Currently configured as six residential units plus front and rear apartments, with potential conversion to a legal four‑unit building with ground‑floor retail; R6A / C2‑4 zoning with 1.41 FAR currently utilized and approximately 2,767 SF of additional buildable area
