Mixed-Use Building with
For Sale
Contact for pricing
Pending
1589 Canarsie Rd, Brooklyn, NY 11236
Two-story mixed-use building features a fully operational ground-floor laundromat and a two-bedroom apartment above.
Property Size2,000 SF
Days on Market171
Property Features for 1589 Canarsie Rd
General Information
Standard status
Pending
Size
2,000 SF
Property subtype
Mixed Use
Zoning
4-1
Investment Type
Owner/User
Additional Details
Business Included
Yes
Road Access
Yes
Multifamily Units
1
Building Details
Year Built
1901
Stories
2
Units
2
Tenancy
Multi
Listing Agency:
Compass
Listed By:
Claudette Rolling · License #1030122621
(908) 659-8285
Source:
Crexi
Added: Mar 18
Changed: Aug 14
Last Checked: Jul 25 at 12:39PM
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
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
$72,600
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
8.54%
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%
$1,452,000
$1.5M
Cap Rate 7%
$1,037,143
$1.0M
Cap Rate 9%
$806,667
$806.7K
Market Conditions
NOI Build-Up for 2,000 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
$132.0K $66.00/SF
− Vacancy
−$15.8K −$7.92/SF
EGI
$116.2K $58.08/SF
− OpEx
−$43.6K −$21.78/SF
NOI
$72.6K $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 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%
$1,452,000
Cap Rate 7%
$1,037,143
Cap Rate 9%
$806,667
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 authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,225
Businesses Nearby
105k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 46%
Shops & Services 30%
Groceries 18%
Apparel 4%
McDonald's
Dining
19,364 visits/mo
0.3 miles
Key Food Supermarkets
Groceries
15,126 visits/mo
0.3 miles
Shell
Shops & Services
11,562 visits/mo
0.3 miles
Mobil
Shops & Services
10,804 visits/mo
0.3 miles
Dunkin' Donuts
Dining
7,685 visits/mo
0.4 miles
Demographics for 11236, NY
100,687
Population
37,002
Households
2.7
Avg Household Size
40
Median Age
28%
College-Educated
88%
High-School Grad
3.6 sq mi
ZIP Area
27,969
Density / Sq Mi
$82,813
Median Household Income
$50,244
Median Earnings
$1,637
Median Rent
$710,300
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 - 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
