Mixed-Use Property with Two Commercial
New
For Sale
$2,800,000
1428 Flatbush Ave, Brooklyn, NY 11210
Residential income is paired with space for institutional, medical, educational, or professional users.
Property Size5,851 SF
Days on Market4
Property Features for 1428 Flatbush Ave
General Information
Standard status
Active
Size
5,851 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$10,002
Building Details
Building Size
5,851 SF
Year Built
1933
Units
6
Tenancy
Multi
Listing Agency:
Douglas Elliman Real Estate
(516) 870-4727
Listed By:
Lina Saint-Cyr · License #10401391072
(516) 870-4727
Source:
Elliman
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 10 at 7:58AM
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 Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
This mixed-use property at 1428 Flatbush Ave combines residential income with two commercial spaces. The available commercial areas are identified for institutional, medical, educational, or professional users, creating a building configuration that brings residential and commercial components together. Constructed in 1933, the property is positioned in a highly accessible Brooklyn setting, with a Walk Score of 90, a Transit Score of 97, and a Bike Score of 66. The address is 1428 Flatbush Ave, Brooklyn, NY 11210.
Key Highlights
- Mixed‑use property with residential income and two commercial spaces
- Commercial spaces identified for institutional, medical, educational, or professional users
- Built in 1933
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
$212,391
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
7.59%
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%
$4,247,820
$4.2M
Cap Rate 7%
$3,034,157
$3.0M
Cap Rate 9%
$2,359,900
$2.4M
Market Conditions
NOI Build-Up for 5,851 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
$386.2K $66.00/SF
− Vacancy
−$46.3K −$7.92/SF
EGI
$339.8K $58.08/SF
− OpEx
−$127.4K −$21.78/SF
NOI
$212.4K $36.30/SF
Area
Brooklyn, NY
Vacancy
12.00%
Lease Rate
$66.00 /SF/Yr
Expense Ratio
37.50%
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%
$4,247,820
Cap Rate 7%
$3,034,157
Cap Rate 9%
$2,359,900
Alternative Uses
Best Use
Retail
$4.01M
$3.51M – $4.68M
NOI $280,582 @ 7.0% cap · market cap 10.02%
Second Best
Mixed Use
$3.03M
$2.65M – $3.54M
NOI $212,391 @ 7.0% cap · market cap 7.59%
Theoretical Best
Specialty Retail
$4.84M
$4.24M – $5.65M
NOI $339,124 @ 7.0% cap · market cap 12.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,819
Businesses Nearby
331k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 53%
Shops & Services 26%
Groceries 13%
Electronics 4%
Dallas BBQ
Dining
46,854 visits/mo
0.2 miles
McDonald's
Dining
40,645 visits/mo
0.2 miles
Chase Bank
Shops & Services
25,765 visits/mo
0.4 miles
Popeyes Louisiana Kitchen
Dining
19,495 visits/mo
0.3 miles
Fine Fare
Groceries
18,771 visits/mo
0.1 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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Residential income is paired with space for institutional, medical, educational, or professional users.
Where is this mixed-use property located?
The property is located at 1428 Flatbush Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: Mixed‑use property with residential income and two commercial spaces; Commercial spaces identified for institutional, medical, educational, or professional users; Built in 1933
