Mixed-Use Building with
1589 Canarsie Rd Brooklyn, NY 11236
1589 Canarsie Rd, Brooklyn, NY, 11236
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For Sale
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Two-story mixed-use building features a fully operational ground-floor laundromat and a two-bedroom apartment above.
Property Size2,000 SF
Price / SF$425
Days on Market126
Property Features for 1589 Canarsie Rd
General Information
- Standard status
- Active
- Size
- 2,000 SF
- Property subtype
- Mixed Use
Building Details
- Year Built
- 1901
Listing agency
Compass
Listed by
Claudette Rolling · License #1030122621
Source
Crexi
Added: Mar 18 Updated: Jul 21 at 3:39AM Checked: Jul 21 at 3:39AM
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 Compass
Investment Insights
Based on property information with market context.
This mixed-use building offers income-producing commercial and residential space. The ground floor is a fully operational laundromat equipped with approximately 18 washers and 20 dryers. A two-bedroom residential apartment occupies the second floor, providing an additional rental unit above the business.
The property is positioned on Canarsie Road, described as a well-traveled corridor with visibility and neighborhood density. On-site parking is included, serving both laundromat customers and residents.
With a turnkey laundromat operation and an attached residential unit, the building is designed to support a combined commercial and rental income structure for the next owner.
The property is positioned on Canarsie Road, described as a well-traveled corridor with visibility and neighborhood density. On-site parking is included, serving both laundromat customers and residents.
With a turnkey laundromat operation and an attached residential unit, the building is designed to support a combined commercial and rental income structure for the next owner.
Key Highlights
- 2,000 SF two‑story mixed‑use building on Canarsie Road in Canarsie, Brooklyn
- Ground‑floor laundromat is fully operational with approx. 18 washers and 20 dryers
- Includes a 2‑bedroom residential apartment on the second floor for additional rental income
Local Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $132.0k | $66.00 |
| − Vacancy | −$15.8k | −$7.92 |
| EGI | $116.2k | $58.08 |
| − OpEx | −$43.6k | −$21.78 |
| NOI | $72.6k | $36.30 |
2,000 SF · lease $66.00/SF/yr · vacancy 12.00% · expense 37.50%
Alternative Uses
Best Use
Retail
$1.37M
$1.20M – $1.60M
NOI $95,909 @ 7.0% cap · market cap 11.28%
Second Best
Mixed Use
$1.04M
$907.5K – $1.21M
NOI $72,600 @ 7.0% cap · market cap 8.54%
Theoretical Best
Specialty Retail
$1.66M
$1.45M – $1.93M
NOI $115,920 @ 7.0% cap · market cap 13.64%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Two-story mixed-use building features a fully operational ground-floor laundromat and a two-bedroom apartment above.
Where is this mixed-use property located?
The property is located at 1589 Canarsie Rd Brooklyn, NY.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 2,000 SF two‑story mixed‑use building on Canarsie Road in Canarsie, Brooklyn; Ground‑floor laundromat is fully operational with approx. 18 washers and 20 dryers; Includes a 2‑bedroom residential apartment on the second floor for additional rental income
