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$673.19
Days on Market81
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
(646) 373-7944
Listed By:
Daniel Barcelowsky · License #NY
Source:
Crexi
Added: Jun 3
Changed: Aug 8
Last Checked: Aug 21 at 7:33AM
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
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 = 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
$117,537
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
7.12%
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%
$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
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
$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 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%
$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 7.12%
Second Best
Multifamily LT 5
$1.23M
$1.07M – $1.43M
NOI $85,838 @ 7.0% cap · market cap 5.20%
Theoretical Best
Specialty Retail
$2.03M
$1.78M – $2.37M
NOI $142,060 @ 7.0% cap · market cap 8.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
5,984
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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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 $1,650,000.
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
