Mixed-Use Building with Private
New
For Sale
$2,288,888
156 Avenue U, Brooklyn, NY 11223
Four storefronts and two apartments occupy a corner property with a full basement and private garage.
Property Size3,465 SF
Lot Size0.05 Acres
Price / SF$660.57
Days on Market4
Property Features for 156 Avenue U
General Information
Standard status
Active
Size
3,465 SF
Lot size
0.05 Acres
Property subtype
Mixed Use
Net Operating Income
$138,000
Financials
Cap Rate
6%
Gross Income
$174,120
Site & Location
Corner Location
Yes
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
ProBase Real Estate
Listed By:
Shaojie (Jayden) Liang · License #SL6230
(718) 210-2727
Source:
Prideestates
Added: Oct 2
Changed: Oct 3
Last Checked: Oct 4 at 3:21PM
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 ProBase Real Estate
Investment Insights
Based on property information with market context.
This mixed-use property contains four retail spaces, two two-bedroom apartments, and a private garage. The building has approximately 3,465 square feet and a full basement. Its building footprint is approximately 20' x 105', on a 20' x 115' lot.
At 156 Avenue U in Brooklyn, the property is at the Avenue U and W. 7th St. intersection. The Avenue U N train station and B3 bus service are nearby, with businesses, restaurants, and supermarkets in the surrounding area. The reported cap rate is 6%.
At 156 Avenue U in Brooklyn, the property is at the Avenue U and W. 7th St. intersection. The Avenue U N train station and B3 bus service are nearby, with businesses, restaurants, and supermarkets in the surrounding area. The reported cap rate is 6%.
Key Highlights
- Four retail spaces and two two‑bedroom apartments
- Approximately 3,465 SF, plus a full basement
- Private garage
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
$166,163
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
7.26%
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%
$3,323,260
$3.3M
Cap Rate 7%
$2,373,757
$2.4M
Cap Rate 9%
$1,846,256
$1.8M
Market Conditions
NOI Build-Up for 3,465 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
$269.4K $77.76/SF
− Vacancy
−$32.1K −$9.25/SF
EGI
$237.4K $68.51/SF
− OpEx
−$71.2K −$20.55/SF
NOI
$166.2K $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%
$3,323,260
Cap Rate 7%
$2,373,757
Cap Rate 9%
$1,846,256
Alternative Uses
Best Use
Retail
$2.37M
$2.08M – $2.77M
NOI $166,163 @ 7.0% cap · market cap 7.26%
Second Best
Mixed Use
$1.80M
$1.57M – $2.10M
NOI $125,780 @ 7.0% cap · market cap 5.50%
Theoretical Best
Specialty Retail
$2.87M
$2.51M – $3.35M
NOI $200,831 @ 7.0% cap · market cap 8.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,120
Businesses Nearby
Explore this area
Business Placement
Demographics for 11223, NY
83,519
Population
28,857
Households
2.9
Avg Household Size
37
Median Age
34%
College-Educated
78%
High-School Grad
2.1 sq mi
ZIP Area
39,771
Density / Sq Mi
$63,950
Median Household Income
$40,592
Median Earnings
$1,653
Median Rent
$1,063,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Four storefronts and two apartments occupy a corner property with a full basement and private garage.
Where is this mixed-use property located?
The property is located at 156 Avenue U Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,288,888.
What are key features of this property?
This property features: Four retail spaces and two two‑bedroom apartments; Approximately 3,465 SF, plus a full basement; Private garage
