Mixed-Use Property with
New
For Sale
$1,299,000
1899 Fulton St, Brooklyn, NY 11233
Two residential apartments accompany a street-level commercial space with separate residential access.
Property Size1,908 SF
Days on Market2
Property Features for 1899 Fulton St
General Information
Standard status
Active
Size
1,908 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$4,218
Building Details
Building Size
1,908 SF
Year Built
1901
Units
3
Listing Agency:
NEXTHOME FINEST FIRST
Listed By:
Lane Clark · License #10491212843,PersonLicenseNumber
(631) 944-8404
Source:
Elliman
Added: Sep 4
Last Checked: Sep 5 at 7:29AM
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 NEXTHOME FINEST FIRST
Investment Insights
Based on property information with market context.
Located at 1899 Fulton Street, also identified as 24 MacDougal Street, this two-story mixed-use property combines two residential apartments with a street-level storefront. The residential component includes a three-bedroom, two-bath duplex and a separate two-bedroom, one-bath apartment. Residential entry is provided from MacDougal Street, while the commercial space fronts Fulton Street.
The property has frontage and access on both streets, with the storefront positioned for exposure along Fulton Street. Zoning is R6A with a C2-4 commercial overlay. The site is near the Ralph Avenue A/C subway entrance, with a 92 Walk Score, 98 Transit Score, and 67 Bike Score. Built in 1901, the property offers three distinct spaces within one mixed-use asset.
The property has frontage and access on both streets, with the storefront positioned for exposure along Fulton Street. Zoning is R6A with a C2-4 commercial overlay. The site is near the Ralph Avenue A/C subway entrance, with a 92 Walk Score, 98 Transit Score, and 67 Bike Score. Built in 1901, the property offers three distinct spaces within one mixed-use asset.
Key Highlights
- Two residential apartments plus a street‑level storefront
- Three‑bedroom, two‑bath duplex and separate two‑bedroom, one‑bath apartment
- Dual‑street frontage with residential access from MacDougal Street
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
$91,497
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
7.04%
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%
$1,829,940
$1.8M
Cap Rate 7%
$1,307,100
$1.3M
Cap Rate 9%
$1,016,633
$1.0M
Market Conditions
NOI Build-Up for 1,908 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
$148.4K $77.76/SF
− Vacancy
−$17.7K −$9.25/SF
EGI
$130.7K $68.51/SF
− OpEx
−$39.2K −$20.55/SF
NOI
$91.5K $47.95/SF
Area
Brooklyn, NY
Vacancy
11.90%
Lease Rate
$77.76 /SF/Yr
Expense Ratio
30.00%
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%
$1,829,940
Cap Rate 7%
$1,307,100
Cap Rate 9%
$1,016,633
Alternative Uses
Best Use
Retail
$1.31M
$1.14M – $1.52M
NOI $91,497 @ 7.0% cap · market cap 7.04%
Second Best
Mixed Use
$989.4K
$865.8K – $1.15M
NOI $69,260 @ 7.0% cap · market cap 5.33%
Theoretical Best
Specialty Retail
$1.58M
$1.38M – $1.84M
NOI $110,588 @ 7.0% cap · market cap 8.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,577
Businesses Nearby
Explore this area
Business Placement
Demographics for 11233, NY
75,399
Population
34,412
Households
2.2
Avg Household Size
35
Median Age
33%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
57,999
Density / Sq Mi
$62,034
Median Household Income
$47,149
Median Earnings
$1,613
Median Rent
$1,013,000
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 residential apartments accompany a street-level commercial space with separate residential access.
Where is this mixed-use property located?
The property is located at 1899 Fulton St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Two residential apartments plus a street‑level storefront; Three‑bedroom, two‑bath duplex and separate two‑bedroom, one‑bath apartment; Dual‑street frontage with residential access from MacDougal Street
