Brooklyn Mixed-Use Retail
For Sale
Contact for pricing
1465 Myrtle Avenue, Brooklyn, NY 11237
Located in Bushwick near Knickerbocker Ave subway station.
Property Size9,220 SF
Price / SF$460.95
Days on Market175
Property Features for 1465 Myrtle Avenue
General Information
Standard status
Active
Size
9,220 SF
Property subtype
Retail
Zoning
R6
Occupancy
75%
Lease Type
Modified Gross
Investment Type
Value Add
Net Operating Income
$152,812
Building Details
Units
4
Tenancy
Multi
Listing Agency:
Tri State Commercial
Listed By:
Shlomi Bagdadi · License #NY 10311204539
(718) 437-6100
Source:
Crexi
Added: Mar 26
Changed: Sep 3
Last Checked: Sep 15 at 4:28AM
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 Tri State Commercial
Investment Insights
Based on property information with market context.
Located in the Bushwick neighborhood of Brooklyn, this mixed-use retail property is situated between Bleecker St and Menahan St, near the Knickerbocker Ave subway station. The nearest transit options include the M train at Knickerbocker Ave, the L train at Myrtle - Wyckoff Ave, and the B54 bus line. The property's size is 9220 square feet. Nearby tenants include Citibank, Boost Mobile, Qdoba, Subway, Popeyes, Matto Espresso, CVS, Dollar Tree, Capital One, Food Bazaar, Blink Fitness, Bank of America, Planet Fitness and White Castle.
Key Highlights
- Prime location in Bushwick, Brooklyn.
- Close proximity to the Knickerbocker Ave subway station (M train).
- Convenient access to multiple subway lines (M, L).
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
$334,686
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
7.87%
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%
$6,693,720
$6.7M
Cap Rate 7%
$4,781,229
$4.8M
Cap Rate 9%
$3,718,733
$3.7M
Market Conditions
NOI Build-Up for 9,220 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
$608.5K $66.00/SF
− Vacancy
−$73.0K −$7.92/SF
EGI
$535.5K $58.08/SF
− OpEx
−$200.8K −$21.78/SF
NOI
$334.7K $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%
$6,693,720
Cap Rate 7%
$4,781,229
Cap Rate 9%
$3,718,733
Alternative Uses
Best Use
Retail
$6.32M
$5.53M – $7.37M
NOI $442,141 @ 7.0% cap · market cap 10.40%
Second Best
Mixed Use
$4.78M
$4.18M – $5.58M
NOI $334,686 @ 7.0% cap · market cap 7.87%
Theoretical Best
Specialty Retail
$7.63M
$6.68M – $8.91M
NOI $534,391 @ 7.0% cap · market cap 12.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
5,989
Businesses Nearby
402k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 44%
Dining 31%
Shops & Services 14%
Apparel 4%
Food Bazaar Supermarket
Groceries
76,560 visits/mo
0.5 miles
Food Bazaar Supermarket
Groceries
51,452 visits/mo
0.4 miles
Burger King
Dining
36,411 visits/mo
0.1 miles
White Castle
Dining
24,528 visits/mo
0.3 miles
Dunkin' Donuts
Dining
23,384 visits/mo
0.4 miles
Demographics for 11237, NY
49,418
Population
18,801
Households
2.6
Avg Household Size
31
Median Age
41%
College-Educated
76%
High-School Grad
1.0 sq mi
ZIP Area
49,418
Density / Sq Mi
$82,570
Median Household Income
$43,421
Median Earnings
$2,109
Median Rent
$1,063,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Located in Bushwick near Knickerbocker Ave subway station.
Where is this mixed-use property located?
The property is located at 1465 Myrtle Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $4,250,000.
What are key features of this property?
This property features: Prime location in Bushwick, Brooklyn.; Close proximity to the Knickerbocker Ave subway station (M train).; Convenient access to multiple subway lines (M, L).
