Mixed-Use Retail Asset in
For Sale
Contact for pricing
Pending
1513 Myrtle Avenue, Brooklyn, NY 11237
Mixed-use retail property with value-add potential in high-traffic location.
Property Size3,700 SF
Days on Market117
Property Features for 1513 Myrtle Avenue
General Information
Standard status
Pending
Size
3,700 SF
Property subtype
Retail
Zoning
R6, C2-3
Occupancy
100%
Investment Type
Value Add
Net Operating Income
$175,300
Building Details
Tenancy
Multi
Listing Agency:
JA Cohen Advisory Group LLC
Listed By:
Jack A. Cohen · License #NY 10491209522
(917) 533-8905
Source:
Crexi
Added: May 13
Changed: Aug 23
Last Checked: Sep 5 at 12:07PM
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 JA Cohen Advisory Group LLC
Investment Insights
Based on property information with market context.
Located on Myrtle Avenue in Bushwick, this mixed-use retail asset offers in-place cash flow and repositioning flexibility. The property benefits from neighborhood growth, commercial activity, foot traffic, and tenant demand. The asset includes landlord termination rights in each lease and built-in annual rent increases, presenting value-add and future upside potential. The property size is 3,700 square feet.
Key Highlights
- Stable in‑place cash flow.
- Long‑term repositioning flexibility.
- Located in the highly active Myrtle Avenue corridor in Bushwick.
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
$177,432
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
4.22%
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%
$3,548,640
$3.5M
Cap Rate 7%
$2,534,743
$2.5M
Cap Rate 9%
$1,971,467
$2.0M
Market Conditions
NOI Build-Up for 3,700 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
$287.7K $77.76/SF
− Vacancy
−$34.2K −$9.25/SF
EGI
$253.5K $68.51/SF
− OpEx
−$76.0K −$20.55/SF
NOI
$177.4K $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%
$3,548,640
Cap Rate 7%
$2,534,743
Cap Rate 9%
$1,971,467
Alternative Uses
Best Use
Retail
$2.53M
$2.22M – $2.96M
NOI $177,432 @ 7.0% cap · market cap 4.22%
Second Best
Mixed Use
$1.92M
$1.68M – $2.24M
NOI $134,310 @ 7.0% cap · market cap 3.20%
Theoretical Best
Specialty Retail
$3.06M
$2.68M – $3.57M
NOI $214,452 @ 7.0% cap · market cap 5.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,940
Businesses Nearby
411k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 42%
Dining 31%
Shops & Services 16%
Apparel 5%
Food Bazaar Supermarket
Groceries
76,560 visits/mo
0.3 miles
Food Bazaar Supermarket
Groceries
51,452 visits/mo
0.2 miles
Burger King
Dining
36,411 visits/mo
0.2 miles
White Castle
Dining
24,528 visits/mo
0.1 miles
Dunkin' Donuts
Dining
23,384 visits/mo
0.2 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
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 - Mixed-use retail property with value-add potential in high-traffic location.
Where is this mixed-use property located?
The property is located at 1513 Myrtle Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $4,200,000.
What are key features of this property?
This property features: Stable in‑place cash flow.; Long‑term repositioning flexibility.; Located in the highly active Myrtle Avenue corridor in Bushwick.
