Mixed-Use Storefront
For Sale
$1,250,000
172 Highlawn Avenue, Brooklyn, NY 11223
Two-level building combines ground-floor retail space with two residential apartments above.
Property Size2,560 SF
Price / SF$488.28
Days on Market183
Property Features for 172 Highlawn Avenue
General Information
Standard status
Active
Size
2,560 SF
Property subtype
MultiFamily
Taxes and HOA fees
Annual Taxes
$9,343
Amenities
110 V
Other
3
Finished, Full, Other
Poured Concrete
Brick
Building Details
Year Built
1925
Listing Agency:
Tiger Realty
(917) 708-9966
Listed By:
Hang (Tyler) Chen · License #hc3855
(917) 708-9966
Source:
Compass
Added: Mar 1
Changed: Aug 30
Last Checked: Aug 30 at 3:02PM
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 Tiger Realty
Investment Insights
Based on property information with market context.
Built in 1925, this mixed-use property contains 2,560 square feet arranged across a commercial ground floor and residential upper level. The first floor is configured for storefront use, while the second floor includes two apartments: one with two bedrooms and another with one bedroom. The property measures 20x64, with a 20x100 lot.
Located at 172 Highlawn Avenue in Brooklyn, NY 11223, the building features brick construction, poured concrete, finished areas, and 110 V service. Its combination of retail and residential components creates a compact, multi-use configuration within an established building footprint.
Located at 172 Highlawn Avenue in Brooklyn, NY 11223, the building features brick construction, poured concrete, finished areas, and 110 V service. Its combination of retail and residential components creates a compact, multi-use configuration within an established building footprint.
Key Highlights
- 2,560 SF mixed‑use property built in 1925
- Ground‑floor storefront configuration
- Two second‑floor apartments: one two‑bedroom and one one‑bedroom
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
$92,928
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
7.43%
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%
$1,858,560
$1.9M
Cap Rate 7%
$1,327,543
$1.3M
Cap Rate 9%
$1,032,533
$1.0M
Market Conditions
NOI Build-Up for 2,560 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
$169.0K $66.00/SF
− Vacancy
−$20.3K −$7.92/SF
EGI
$148.7K $58.08/SF
− OpEx
−$55.8K −$21.78/SF
NOI
$92.9K $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%
$1,858,560
Cap Rate 7%
$1,327,543
Cap Rate 9%
$1,032,533
Alternative Uses
Best Use
Retail
$1.75M
$1.53M – $2.05M
NOI $122,764 @ 7.0% cap · market cap 9.82%
Second Best
Mixed Use
$1.33M
$1.16M – $1.55M
NOI $92,928 @ 7.0% cap · market cap 7.43%
Theoretical Best
Specialty Retail
$2.12M
$1.85M – $2.47M
NOI $148,378 @ 7.0% cap · market cap 11.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,063
Businesses Nearby
Explore this area
Business Placement
Demographics for 11223, NY
83,519
Population
28,857
Households
2.9
Avg Household Size
37
Median Age
34%
College-Educated
78%
High-School Grad
2.1 sq mi
ZIP Area
39,771
Density / Sq Mi
$63,950
Median Household Income
$40,592
Median Earnings
$1,653
Median Rent
$1,063,200
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 - Two-level building combines ground-floor retail space with two residential apartments above.
Where is this mixed-use property located?
The property is located at 172 Highlawn Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 2,560 SF mixed‑use property built in 1925; Ground‑floor storefront configuration; Two second‑floor apartments: one two‑bedroom and one one‑bedroom
