Historic Mixed-Use Building
For Sale
$9,750,000
192-194 Union Street, Brooklyn, NY 11231
Commercial Sale, Brooklyn, NY
Property Size7,390 SF
Price / SF$1,319
Days on Market399
Property Features for 192-194 Union Street
General Information
Property type
Commercial Sale
Property subtype
Other
Bedrooms
9
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 3, Bedroom 5, Bedroom 6, Bathroom 3, Bedroom 7, Bedroom 1, Bathroom 1, Bathroom 6, Bedroom 4, Bedroom 8, Bathroom 2, Bathroom 5, Bedroom 9, Bedroom 2, Bathroom 4
Subdivision
Carroll Gardens
High school district
000000
Standard status
Active
Size
7,390 SF
Building Details
Architectural style
Other
Listing Agency:
Compass
(646) 982-0353
Listed By:
Nicole Galluccio · License #10301221419
(917) 561-8405
Added: Sep 4, 2025
Changed: Sep 14
Last Checked: Oct 7 at 4:06AM
MLS# 11568936
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.
The offering combines 192 and 194 Union Street, two adjacent four-story, turn-of-the-century buildings constructed in 1900. Together, the properties contain 7 residential units along with commercial components, including a storefront at 192 Union Street and a commercial space within 194 Union Street. The buildings retain classic Brooklyn brownstone architecture and original details suitable for restoration or enhancement. The sale also includes Mazzola's Bakery, an Italian bakery business operating in the neighborhood since 1928.
Capital improvements include a new boiler, two water meters, and a retail-space buildout at 192 Union Street in 2022, plus full electrical and gas-line updates completed in 2001. At 194 Union Street, improvements include a new sewer line in 2023, updated residential electrical service and a replacement boiler in 2022, and four-sided repointing in 2021.
The property is located on Union Street in Carroll Gardens, near restaurants, boutiques, cafes, food shops, and pizzerias. The Carroll Street F and G subway station is an 8-minute walk away.
Capital improvements include a new boiler, two water meters, and a retail-space buildout at 192 Union Street in 2022, plus full electrical and gas-line updates completed in 2001. At 194 Union Street, improvements include a new sewer line in 2023, updated residential electrical service and a replacement boiler in 2022, and four-sided repointing in 2021.
The property is located on Union Street in Carroll Gardens, near restaurants, boutiques, cafes, food shops, and pizzerias. The Carroll Street F and G subway station is an 8-minute walk away.
Key Highlights
- Combined 7 residential units across two adjacent four‑story buildings
- 192 Union Street includes 3 residential units and a commercial storefront
- 194 Union Street is arranged with 3 apartments and a commercial component
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$354,384
Cap Rate
3.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,087,680
$7.1M
Cap Rate 7%
$5,062,629
$5.1M
Cap Rate 9%
$3,937,600
$3.9M
Market Conditions
NOI Build-Up for 7,390 SF
Gross rent
$574.6K $77.76/SF
− Vacancy
−$68.4K −$9.25/SF
EGI
$506.3K $68.51/SF
− OpEx
−$151.9K −$20.55/SF
NOI
$354.4K $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 Rate 5%
$7,087,680
Cap Rate 7%
$5,062,629
Cap Rate 9%
$3,937,600
Alternative Uses
Best Use
Retail
$5.06M
$4.43M – $5.91M
NOI $354,384 @ 7.0% cap · market cap 3.63%
Second Best
Mixed Use
$3.83M
$3.35M – $4.47M
NOI $268,257 @ 7.0% cap · market cap 2.75%
Theoretical Best
Specialty Retail
$6.12M
$5.35M – $7.14M
NOI $428,324 @ 7.0% cap · market cap 4.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
7
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
5,034
Businesses Nearby
Explore this area
Business Placement
Demographics for 11231, NY
37,240
Population
18,265
Households
2
Avg Household Size
37
Median Age
69%
College-Educated
90%
High-School Grad
1.4 sq mi
ZIP Area
26,600
Density / Sq Mi
$138,485
Median Household Income
$85,791
Median Earnings
$2,474
Median Rent
$1,678,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two adjacent brownstone properties combine residential apartments with commercial storefront space and an established bakery business.
Where is this mixed-use property located?
The property is located at 192-194 Union Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $9,750,000.
What are key features of this property?
This property features: Combined 7 residential units across two adjacent four‑story buildings; 192 Union Street includes 3 residential units and a commercial storefront; 194 Union Street is arranged with 3 apartments and a commercial component
