Mixed-Use Investment
For Sale
$2,495,000
Pending
167 Forbell Street, Brooklyn, NY 11208
Multi-structure mixed-use building with residential units above and street-level commercial space, including leased and vacant storefronts.
Property Size5,321 SF
Days on Market101
Property Features for 167 Forbell Street
General Information
Standard status
Pending
Size
5,321 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$10,644
Amenities
Central air
Ductless Cooling
Oil Heating
Building Details
Year Built
1920
Tenancy
Multi
Listing Agency:
CRIFASI REAL ESTATE INC
Listed By:
SAL J. CRIFASI · License #1027429
(718) 782-4411
Source:
Corcoran
Added: Jul 18
Changed: Oct 25
Last Checked: Oct 24 at 6:04PM
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
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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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$136,592
Cap Rate
5.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,731,840
$2.7M
Cap Rate 7%
$1,951,314
$2.0M
Cap Rate 9%
$1,517,689
$1.5M
Market Conditions
NOI Build-Up for 5,321 SF
Gross rent
$204.3K $38.40/SF
− Vacancy
−$9.2K −$1.73/SF
EGI
$195.1K $36.67/SF
− OpEx
−$58.5K −$11.00/SF
NOI
$136.6K $25.67/SF
Area
ZIP 11208
Vacancy
4.50%
Lease Rate
$38.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,731,840
Cap Rate 7%
$1,951,314
Cap Rate 9%
$1,517,689
Alternative Uses
Best Use
Multifamily LT 5
$1.95M
$1.71M – $2.28M
NOI $136,592 @ 7.0% cap · market cap 5.47%
Second Best
Apartment 5plus
$1.74M
$1.52M – $2.03M
NOI $121,623 @ 7.0% cap · market cap 4.87%
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 authorities.
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,672
Businesses Nearby
Explore this area
Business Placement
Demographics for 11208, NY
101,958
Population
37,261
Households
2.7
Avg Household Size
35
Median Age
16%
College-Educated
82%
High-School Grad
2.7 sq mi
ZIP Area
37,762
Density / Sq Mi
$59,988
Median Household Income
$40,156
Median Earnings
$1,563
Median Rent
$638,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
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.
