Mixed-Use Investment
167 Forbell Street Brooklyn, NY 11208
New
167 Forbell Street, Brooklyn, NY, 11208
$2,495,000
For Sale
$2,495,000
Multi-structure mixed-use building with residential units above and street-level commercial space, including leased and vacant storefronts.
Property Size5,321 SF
Price / SF$468.90
Days on Market4
Property Features for 167 Forbell Street
General Information
- Standard status
- Active
- Size
- 5,321 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1920
Listing Agency
CRIFASI REAL ESTATE INC
(718) 782-4411
Listed by
SAL J. CRIFASI · License #1027429
Source
Corcoran
Added: Jul 18 Updated: Jul 20 at 3:07 am Checked: Jul 20 at 3:07 am
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 CRIFASI REAL ESTATE INC
Investment Insights
Based on property information with market context.
This mixed-use property is offered as a multi-structure portfolio totaling 5,321 square feet, located at 167 Forbell Street and encompassing 17, 19, and 21 101st Avenue. The building includes two identically configured residential layouts on the second and third floors, currently occupied on a month-to-month basis with no active leases. Street-level space at 167 Forbell Street features an expansive 22’ x 54’ commercial footprint, and the 101st Avenue street-front provides additional commercial units. Units 17 and 21 have active leases secured through October 31, 2028, while unit 19 is vacant.
The property also includes accessory spaces, including a dedicated basement office, storage, and utility areas that support day-to-day functionality. The offering describes a potential stabilized rental path for both residential and commercial components, along with a projected pro forma cap rate of 7.30% and projected NOI of $182,164.
The property also includes accessory spaces, including a dedicated basement office, storage, and utility areas that support day-to-day functionality. The offering describes a potential stabilized rental path for both residential and commercial components, along with a projected pro forma cap rate of 7.30% and projected NOI of $182,164.
Key Highlights
- Mixed‑use portfolio at 167 Forbell St, covering 17, 19, and 21 101st Ave; built in 1920 with 5,321 total SF across multiple structures.
- Residential: two identically configured units on the 2nd and 3rd floors; currently month‑to‑month with no active leases (projected $3,000/month each).
- Street‑level commercial at 167 Forbell St features a 22' x 54' layout; projected rent of $6,500/month.
Local Financial Insights For Office B
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 | $242.6k | $45.60 |
| − Vacancy | −$40.0k | −$7.52 |
| EGI | $202.6k | $38.08 |
| − OpEx | −$50.7k | −$9.52 |
| NOI | $152.0k | $28.56 |
5,321 SF · lease $45.60/SF/yr · vacancy 16.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.17M
$1.90M – $2.53M
NOI $151,952 @ 7.0% cap · market cap 6.09%
Second Best
Multifamily LT 5
$1.95M
$1.71M – $2.28M
NOI $136,592 @ 7.0% cap · market cap 5.47%
Theoretical Best
Office A
$3.26M
$2.85M – $3.80M
NOI $227,906 @ 7.0% cap · market cap 9.13%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
CureHub Menopause Specialist ...
Medical Group
Double Drinks
Cafe & Coffee Shop
Motin Supermarket
Grocery & Convenience Store
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Multi-structure mixed-use building with residential units above and street-level commercial space, including leased and vacant storefronts.
Where is this mixed-use property located?
The property is located at 167 Forbell Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,495,000.
What are key features of this property?
This property features: Mixed‑use portfolio at 167 Forbell St, covering 17, 19, and 21 101st Ave; built in 1920 with 5,321 total SF across multiple structures.; Residential: two identically configured units on the 2nd and 3rd floors; currently month‑to‑month with no active leases (projected $3,000/month each).; Street‑level commercial at 167 Forbell St features a 22' x 54' layout; projected rent of $6,500/month.
