Downtown Brooklyn Mixed-Use
For Sale
$3,600,000
Pending
145 Smith St, Brooklyn, NY 11201
Mixed-use property in Downtown Brooklyn near transit and amenities.
Property Size3,948 SF
Lot Size0.04 Acres
Days on Market267
Property Features for 145 Smith St
General Information
Standard status
Pending
Size
3,948 SF
Lot size
0.04 Acres
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$38,150
Building Details
Building Size
3,948 SF
Year Built
1910
Stories
3
Listing Agency:
Brooklyn Real Property Inc
(718) 875-8899
Listed By:
Jean P Ho
(718) 875-8899
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 13
Last Checked: Aug 21 at 11:54AM
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 Brooklyn Real Property Inc
Investment Insights
Based on property information with market context.
This mixed-use property is located in Downtown Brooklyn, in the Cobble Hill/Boerum Hill neighborhood, next to the Smith Street and Bergen Street Train Station F & G stop, and close to Court St, Barclays Center, Dumbo, Brooklyn Heights, and a short drive from the Brooklyn Bridge. The building features a storefront of approximately 1000 square feet with a large backyard. Residential units include a 2-bedroom, 1-bath apartment on the 2nd floor, a 1.5-bedroom, 1-bath apartment on the 3rd floor, and a large 1-bedroom, 1-bath apartment on the top floor. Each apartment is approximately 1000 square feet. The property is zoned R6A, C2-4 and has 1558 unused FAR. Yearly taxes are $38,150.
Key Highlights
- Prime Downtown Brooklyn Location: Cobble Hill/Boerum Hill, near Smith Street and Bergen Street.
- Proximity to F & G Train Station (Bergen Street stop).
- Mix‑Use Property: Includes three apartments and a storefront.
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
$189,325
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
5.26%
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%
$3,786,500
$3.8M
Cap Rate 7%
$2,704,643
$2.7M
Cap Rate 9%
$2,103,611
$2.1M
Market Conditions
NOI Build-Up for 3,948 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
$307.0K $77.76/SF
− Vacancy
−$36.5K −$9.25/SF
EGI
$270.5K $68.51/SF
− OpEx
−$81.1K −$20.55/SF
NOI
$189.3K $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%
$3,786,500
Cap Rate 7%
$2,704,643
Cap Rate 9%
$2,103,611
Alternative Uses
Best Use
Retail
$2.70M
$2.37M – $3.16M
NOI $189,325 @ 7.0% cap · market cap 5.26%
Second Best
Mixed Use
$2.05M
$1.79M – $2.39M
NOI $143,312 @ 7.0% cap · market cap 3.98%
Theoretical Best
Specialty Retail
$3.27M
$2.86M – $3.81M
NOI $228,826 @ 7.0% cap · market cap 6.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
11,816
Businesses Nearby
Explore this area
Business Placement
Demographics for 11201, NY
69,703
Population
36,155
Households
1.9
Avg Household Size
35
Median Age
79%
College-Educated
96%
High-School Grad
1.4 sq mi
ZIP Area
49,788
Density / Sq Mi
$169,285
Median Household Income
$113,681
Median Earnings
$3,207
Median Rent
$1,131,700
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?
Mixed-use property - Mixed-use property in Downtown Brooklyn near transit and amenities.
Where is this mixed-use property located?
The property is located at 145 Smith St Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,600,000.
What are key features of this property?
This property features: Prime Downtown Brooklyn Location: Cobble Hill/Boerum Hill, near Smith Street and Bergen Street.; Proximity to F & G Train Station (Bergen Street stop).; Mix‑Use Property: Includes three apartments and a storefront.
