152 Patchen Avenue, Brooklyn, NY 11221

Building Details

Year Built 1910 More

Listing Agency: Marcus & Millichap - Manhattan

Listed By: Dan Greenblatt · License NY #10301215921

Source: Crexi

Added: Sep 15 Changed: Nov 2 Last Checked: Nov 8 at 8:08AM

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Investment Insights

Based on property information with market context.

This mixed-use property combines seven residential apartments with one commercial space in a 6,240-square-foot building on a 2,470-square-foot lot. The apartment mix includes two-, three-, and four-bedroom layouts, offering a range of residential configurations within the same building.

Constructed in 1910, the property is located at 152 Patchen Avenue in Brooklyn’s Bedford-Stuyvesant neighborhood. The asset is positioned within an established Brooklyn residential area and includes both residential and commercial components.

Key Highlights

• 7 residential units and 1 commercial space
• 6,240 square feet across the building
• 2,470‑square‑foot lot

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$226,512

Cap Rate

9.06%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,530,240 $4.5M

Cap Rate 7%

$3,235,886 $3.2M

Cap Rate 9%

$2,516,800 $2.5M

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,240 SF

Gross rent

$411.8K $66.00/SF

− Vacancy

−$49.4K −$7.92/SF

EGI

$362.4K $58.08/SF

− OpEx

−$135.9K −$21.78/SF

NOI

$226.5K $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%

$4,530,240

Cap Rate 7%

$3,235,886

Cap Rate 9%

$2,516,800

Alternative Uses

Best Use

Specialty Retail

$5.17M

$4.52M – $6.03M (±1% cap)

NOI $361,670 @ 7.0% cap · market cap 14.47%

Second Best

Retail

$4.27M

$3.74M – $4.99M (±1% cap)

NOI $299,237 @ 7.0% cap · market cap 11.97%

Theoretical Best

—

—

same as Best Use

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

Km Glam Spa Hair Salon

Suggested Use

Top Pick Law Firm Real Estate Agency Dental Office Parking Lot & Garage Skin Care Clinic Accounting Firm

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

7

Residential units

Location Intelligence

Trade Area within ½ mile

3,815

Businesses Nearby

Explore this area Business Placement

Demographics for 11221, NY

89,222

Population

38,690

Households

2.3

Avg Household Size

33

Median Age

42%

College-Educated

84%

High-School Grad

1.4 sq mi

ZIP Area

63,730

Density / Sq Mi

$85,122

Median Household Income

$49,202

Median Earnings

$2,055

Median Rent

$1,061,400

Median Home Value

Market

Average Price Trend$/SF for Mixed-use properties in Brooklyn, NY

$709 Jul

$640 Aug

$678 Sep

$637 Oct

Properties on Market for Mixed-use properties in Brooklyn

Jul

Aug

Sep

Oct

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Seven apartments and one commercial space support a mixed-use property with varied two-, three-, and four-bedroom layouts.

Where is this mixed-use property located?

The property is located at 152 Patchen Avenue Brooklyn, NY.

What is the asking price?

The asking price for this property is $2,500,000.

What are key features of this property?

This property features: 7 residential units and 1 commercial space; 6,240 square feet across the building; 2,470‑square‑foot lot