Mixed-Use Building with
For Sale
$1,325,000
Pending
1703 Foster Avenue, Brooklyn, NY 11230
Commercial Sale, Brooklyn, NY
Property Size3,000 SF
Days on Market127
Property Features for 1703 Foster Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Bedrooms
4
Rooms
Bedroom 2, Bedroom 4, Bedroom 3, Bedroom 1
Subdivision
Ditmas Park
High school district
000000
Standard status
Pending
Size
3,000 SF
Building Details
Architectural style
Other
Listing Agency:
Compass
(646) 982-0353
Listed By:
Peter Athanasopoulos
(646) 404-1578
Added: Apr 29
Changed: Sep 1
Last Checked: Sep 2 at 6:06PM
MLS# 11737236
Copyright © 2026 My State 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.
Located at 1703 Foster Avenue, this 3,000-square-foot mixed-use property combines a ground-floor deli with two three-bedroom apartments. The layout provides distinct commercial and residential components within one building, with renovation and additional work needed to bring the property forward.
The property is in Ditmas Park, with shopping, dining, and mass transit nearby. Its Brooklyn location also provides access toward Queens and other parts of the borough. The existing configuration offers a straightforward combination of retail space and residential units for an owner-user or investor seeking a mixed-use asset.
The property is in Ditmas Park, with shopping, dining, and mass transit nearby. Its Brooklyn location also provides access toward Queens and other parts of the borough. The existing configuration offers a straightforward combination of retail space and residential units for an owner-user or investor seeking a mixed-use asset.
Key Highlights
- 3,000‑square‑foot mixed‑use property at 1703 Foster Avenue
- Ground‑floor deli space
- Two three‑bedroom apartments above the commercial space
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
$108,900
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
8.22%
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%
$2,178,000
$2.2M
Cap Rate 7%
$1,555,714
$1.6M
Cap Rate 9%
$1,210,000
$1.2M
Market Conditions
NOI Build-Up for 3,000 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
$198.0K $66.00/SF
− Vacancy
−$23.8K −$7.92/SF
EGI
$174.2K $58.08/SF
− OpEx
−$65.3K −$21.78/SF
NOI
$108.9K $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%
$2,178,000
Cap Rate 7%
$1,555,714
Cap Rate 9%
$1,210,000
Alternative Uses
Best Use
Retail
$2.06M
$1.80M – $2.40M
NOI $143,864 @ 7.0% cap · market cap 10.86%
Second Best
Mixed Use
$1.56M
$1.36M – $1.82M
NOI $108,900 @ 7.0% cap · market cap 8.22%
Theoretical Best
Specialty Retail
$2.48M
$2.17M – $2.90M
NOI $173,880 @ 7.0% cap · market cap 13.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,024
Businesses Nearby
121k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 55%
Shops & Services 21%
Groceries 16%
Electronics 5%
McDonald's
Dining
25,733 visits/mo
0.4 miles
Chase Bank
Shops & Services
18,496 visits/mo
0.2 miles
Dunkin' Donuts
Dining
14,343 visits/mo
0.4 miles
C-Town Supermarkets
Groceries
10,793 visits/mo
0.1 miles
Dunkin' Donuts
Dining
10,690 visits/mo
0.5 miles
Demographics for 11230, NY
91,391
Population
34,269
Households
2.7
Avg Household Size
35
Median Age
44%
College-Educated
82%
High-School Grad
1.8 sq mi
ZIP Area
50,773
Density / Sq Mi
$69,522
Median Household Income
$43,135
Median Earnings
$1,734
Median Rent
$863,400
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 - Ground-floor deli space is paired with two three-bedroom apartments in a multi-unit commercial and residential configuration.
Where is this mixed-use property located?
The property is located at 1703 Foster Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,325,000.
What are key features of this property?
This property features: 3,000‑square‑foot mixed‑use property at 1703 Foster Avenue; Ground‑floor deli space; Two three‑bedroom apartments above the commercial space
