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 Market221
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: Oct 30
Last Checked: Nov 1 at 4:05AM
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
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Review the available facts, identify missing information and prepare questions for the agent.
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 / Yr
$334,686
Cap Rate
7.87%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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
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).
