Brick Mixed-Use
For Sale
$2,495,000
Pending
167 Forbell Street, Brooklyn, NY 11208
Commercial Sale, Brooklyn, NY
Property Size5,321 SF
Lot Size0.06 Acres
Days on Market53
Property Features for 167 Forbell Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R5
Rooms
Basement
Basement
Finished
Elementary school
Ps 214 Michael Friedsam
Middle school
Jhs 218 James P Sinnott
High school
Transit Tech Career And Tech Edu
Elementary school district
Brooklyn 19
Middle school district
Brooklyn 19
High school district
Brooklyn 19
Standard status
Pending
APN
04185-0001
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
10644
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Oil
Cooling system
Ductless, Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
1920
Floors in Building
3
Number of units
6
Building materials
Brick
Listing Agency:
Crifasi Real Estate Inc
(718) 782-4411
Listed By:
Sal J. Crifasi · License #10301205163
(718) 908-4223
Added: Jul 17
Changed: Sep 6
Last Checked: Sep 7 at 6:06AM
MLS# 1027429
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This brick mixed-use property, built in 1920, combines residential and commercial components across multiple structures. The asset includes two residential layouts on the upper floors, street-front commercial space along Forbell Street and 101st Avenue, and basement areas designated for office, storage, and utilities. Residential occupancies are month-to-month, while two commercial units have leases extending through October 31, 2028. Additional commercial space is vacant. The property is zoned R5 and occupies 0.0582 acres at 167 Forbell Street in Brooklyn. Building systems include oil heating, ductless and window cooling, public water, public sewer, and available natural gas. A 7.30% pro forma cap rate is identified in the property information.
Key Highlights
- Mixed‑use property at 167 Forbell Street, Brooklyn, NY 11208
- 0.0582‑acre site with R5 zoning
- Two commercial leases extend through October 31, 2028
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
$121,623
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
4.87%
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%
$2,432,460
$2.4M
Cap Rate 7%
$1,737,471
$1.7M
Cap Rate 9%
$1,351,367
$1.4M
Market Conditions
NOI Build-Up for 5,321 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
$229.9K $43.20/SF
− Vacancy
−$8.7K −$1.64/SF
EGI
$221.1K $41.56/SF
− OpEx
−$99.5K −$18.70/SF
NOI
$121.6K $22.86/SF
Area
ZIP 11208
Vacancy
3.80%
Lease Rate
$43.20 /SF/Yr
Expense Ratio
45.00%
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%
$2,432,460
Cap Rate 7%
$1,737,471
Cap Rate 9%
$1,351,367
Alternative Uses
Best Use
Apartment 5plus
$1.74M
$1.52M – $2.03M
NOI $121,623 @ 7.0% cap · market cap 4.87%
Second Best
Mixed Use
$1.58M
$1.38M – $1.84M
NOI $110,384 @ 7.0% cap · market cap 4.42%
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.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Residential layouts, street-level commercial spaces, and basement areas create a flexible mixed-use configuration.
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 property at 167 Forbell Street, Brooklyn, NY 11208; 0.0582‑acre site with R5 zoning; Two commercial leases extend through October 31, 2028
