Renovated Mixed-Use Brooklyn
For Sale
Contact for pricing
Pending
20 Avenue T, Brooklyn, NY 11223
Fully renovated, vacant mixed-use property in Gravesend/Bensonhurst.
Property Size2,318 SF
Days on Market160
Property Features for 20 Avenue T
General Information
Standard status
Pending
Size
2,318 SF
Property subtype
Mixed Use
Zoning
R5B, 28c
Building Details
Year Built
1931
Year Renovated
2025
Stories
2
Units
3
Listing Agency:
Corcoran Chelsea/Flatiron
Listed By:
Chris DelCore · License #10301223018
Source:
Crexi
Added: Mar 18
Changed: Aug 17
Last Checked: Aug 23 at 6:00AM
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 Corcoran Chelsea/Flatiron
Investment Insights
Based on property information with market context.
This meticulously maintained, fully renovated mixed-use property is delivered vacant, offering immediate flexibility. The property features a ground-floor commercial space with direct access to a private backyard and a full basement with a 7'2" ceiling height. Above, two fully renovated, free-market one-bedroom apartments provide strong rental appeal and efficient layouts. All units are direct metered. Positioned at the crossroads of Gravesend and Bensonhurst, the building sits on a quiet residential block just moments from the vibrant 86th Street commercial corridor. Transportation is exceptional: the D train at 25th Avenue/86th Street is just a half block away, the N train at Avenue T & West 9th Street is approximately a 6-minute walk, and the B1, B3, and B4 buses are all within a half block. Neighborhood highlights include nearby shopping, restaurants, and local favorites such as L&B Spumoni Gardens just two blocks away. The property size is 2318 square feet.
Key Highlights
- Fully vacant, turn‑key, and meticulously maintained mixed‑use property offering immediate flexibility.
- High income potential with projected cap rate over 6.5% upon stabilization.
- Excellent transportation access: half block to D train, short walk to N train, and multiple bus lines nearby.
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
$84,143
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
4.96%
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%
$1,682,860
$1.7M
Cap Rate 7%
$1,202,043
$1.2M
Cap Rate 9%
$934,922
$934.9K
Market Conditions
NOI Build-Up for 2,318 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
$153.0K $66.00/SF
− Vacancy
−$18.4K −$7.92/SF
EGI
$134.6K $58.08/SF
− OpEx
−$50.5K −$21.78/SF
NOI
$84.1K $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%
$1,682,860
Cap Rate 7%
$1,202,043
Cap Rate 9%
$934,922
Alternative Uses
Best Use
Mixed Use
$1.20M
$1.05M – $1.40M
NOI $84,143 @ 7.0% cap · market cap 4.96%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.92M
$1.68M – $2.24M
NOI $134,351 @ 7.0% cap · market cap 7.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,734
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully renovated, vacant mixed-use property in Gravesend/Bensonhurst.
Where is this mixed-use property located?
The property is located at 20 Avenue T Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,695,000.
What are key features of this property?
This property features: Fully vacant, turn‑key, and meticulously maintained mixed‑use property offering immediate flexibility.; High income potential with projected cap rate over 6.5% upon stabilization.; Excellent transportation access: half block to D train, short walk to N train, and multiple bus lines nearby.
