Mixed-Use Building with
For Sale
Contact for pricing
1983 64th St, Brooklyn, NY 11204
Mixed-use building with four ground-floor storefronts and nine apartments above, for sale.
Property Size10,000 SF
Price / SF$400
Days on Market145
Property Features for 1983 64th St
General Information
Standard status
Active
Size
10,000 SF
Class
B
Property subtype
Multifamily, Mixed Use
Occupancy
95%
Investment Type
Value Add
Net Operating Income
$300,000
Additional Details
Multifamily Units
9
Building Details
Year Built
1930
Units
13
Tenancy
Multi
Listing Agency:
SERHANT
Listed By:
Alessa Aichinger · License #10401333915
Source:
Crexi
Added: Apr 16
Changed: Sep 6
Last Checked: Sep 1 at 3:42AM
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 SERHANT
Investment Insights
Based on property information with market context.
This mixed-use property consists of 9 apartments positioned above 4 ground-floor commercial storefronts. The building is configured to provide combined residential and retail income in a single asset, with storefront space at street level and apartments located overhead.
The property is located at 1983 64th St in Brooklyn, NY 11204. It offers street-facing presence through the 4 ground-floor storefronts while maintaining a stacked layout with residential units above.
The property is located at 1983 64th St in Brooklyn, NY 11204. It offers street-facing presence through the 4 ground-floor storefronts while maintaining a stacked layout with residential units above.
Key Highlights
- Mixed‑use building with 4 ground‑floor commercial storefronts and 9 residential apartments above
- Approximately 10,000 SF mixed‑use commercial property
- Year built: 1930
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
$363,000
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
9.08%
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%
$7,260,000
$7.3M
Cap Rate 7%
$5,185,714
$5.2M
Cap Rate 9%
$4,033,333
$4.0M
Market Conditions
NOI Build-Up for 10,000 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
$660.0K $66.00/SF
− Vacancy
−$79.2K −$7.92/SF
EGI
$580.8K $58.08/SF
− OpEx
−$217.8K −$21.78/SF
NOI
$363.0K $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%
$7,260,000
Cap Rate 7%
$5,185,714
Cap Rate 9%
$4,033,333
Alternative Uses
Best Use
Retail
$6.85M
$5.99M – $7.99M
NOI $479,546 @ 7.0% cap · market cap 11.99%
Second Best
Mixed Use
$5.19M
$4.54M – $6.05M
NOI $363,000 @ 7.0% cap · market cap 9.08%
Theoretical Best
Specialty Retail
$8.28M
$7.25M – $9.66M
NOI $579,600 @ 7.0% cap · market cap 14.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
9
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,047
Businesses Nearby
Explore this area
Business Placement
Demographics for 11204, NY
85,885
Population
27,498
Households
3.1
Avg Household Size
34
Median Age
30%
College-Educated
74%
High-School Grad
1.6 sq mi
ZIP Area
53,678
Density / Sq Mi
$67,588
Median Household Income
$33,461
Median Earnings
$1,751
Median Rent
$1,097,200
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?
Apartment building - Mixed-use building with four ground-floor storefronts and nine apartments above, for sale.
Where is this apartment building located?
The property is located at 1983 64th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: Mixed‑use building with 4 ground‑floor commercial storefronts and 9 residential apartments above; Approximately 10,000 SF mixed‑use commercial property; Year built: 1930
