Brick Mixed-Use
For Sale
$1,785,000
1890 W 6th Street, Brooklyn, NY 11223
Commercial Sale, Brooklyn, NY
Property Size3,900 SF
Lot Size0.06 Acres
Price / SF$457.69
Days on Market458
Property Features for 1890 W 6th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Rooms
Basement
Basement
Finished, Storage Space, Full
Lot features
Corner Lot
Standard status
Active
APN
06674-0042
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
29332
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
1931
Number of units
6
Building materials
Brick
Listing Agency:
Crifasi Real Estate Inc
(718) 782-4411
Listed By:
Sal J. Crifasi · License #1027429
(718) 782-4411
Added: May 20, 2025
Changed: Aug 20
Last Checked: Aug 20 at 6:06PM
MLS# 858279
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 fully occupied mixed-use building contains approximately 3,900 square feet across two floors on a 25ft x 100ft lot. The brick structure was built in 1931 and includes four ground-floor retail units, with one deli offering basement access. The second floor contains two residential apartments: one with three bedrooms and one with two bedrooms, each approximately 975 sq ft.
The property is located in Brooklyn, NY 11223, near the Avenue U subway station serving the N and W lines. R5B zoning, public water, public sewer, natural gas heating, and wall/window and window-unit cooling are documented for the property. Cable is available, and the building includes a basement.
The property is located in Brooklyn, NY 11223, near the Avenue U subway station serving the N and W lines. R5B zoning, public water, public sewer, natural gas heating, and wall/window and window-unit cooling are documented for the property. Cable is available, and the building includes a basement.
Key Highlights
- Approximately 3,900 square feet across two floors
- 25ft x 100ft lot with brick construction
- Four ground‑floor retail units, including a deli with basement access
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
$141,570
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
7.93%
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%
$2,831,400
$2.8M
Cap Rate 7%
$2,022,429
$2.0M
Cap Rate 9%
$1,573,000
$1.6M
Market Conditions
NOI Build-Up for 3,900 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
$257.4K $66.00/SF
− Vacancy
−$30.9K −$7.92/SF
EGI
$226.5K $58.08/SF
− OpEx
−$84.9K −$21.78/SF
NOI
$141.6K $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%
$2,831,400
Cap Rate 7%
$2,022,429
Cap Rate 9%
$1,573,000
Alternative Uses
Best Use
Specialty Retail
$3.23M
$2.83M – $3.77M
NOI $226,044 @ 7.0% cap · market cap 12.66%
Second Best
Retail
$2.67M
$2.34M – $3.12M
NOI $187,023 @ 7.0% cap · market cap 10.48%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,643
Businesses Nearby
143k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 46%
Groceries 26%
Shops & Services 18%
Electronics 11%
McDonald's
Dining
37,271 visits/mo
0.5 miles
Petco
Shops & Services
23,136 visits/mo
0.4 miles
Super Foodtown
Groceries
19,340 visits/mo
0.3 miles
Key Food
Groceries
17,619 visits/mo
0.3 miles
Starbucks
Dining
15,784 visits/mo
0.5 miles
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 Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully occupied property combines ground-floor retail with two residential apartments in a two-story configuration.
Where is this mixed-use property located?
The property is located at 1890 W 6th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,785,000.
What are key features of this property?
This property features: Approximately 3,900 square feet across two floors; 25ft x 100ft lot with brick construction; Four ground‑floor retail units, including a deli with basement access
