Building Details

Year Built 1931

Units 8

Listing Agency: Marcus & Millichap - Manhattan

Listed By: Matthew Fotis · License #10301207136 Show Phone

Source: Crexi

Added: Feb 26 Changed: Oct 3 Last Checked: Oct 19 at 5:26AM

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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 Marcus & Millichap - Manhattan

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Investment Insights

Based on property information with market context.

This mixed-use property dates to 1931 and carries R6B zoning. The building occupies the corner of Lexington Avenue and Lewis Avenue in Brooklyn’s Bedford-Stuyvesant section, with a recorded property size of 8,165.

Key Highlights

• 8,165 property size
• Built in 1931
• R6B zoning

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$296,390

Cap Rate

7.06%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,927,800 $5.9M

Cap Rate 7%

$4,234,143 $4.2M

Cap Rate 9%

$3,293,222 $3.3M

Is this asking price fair?

Market Conditions

NOI Build-Up for 8,165 SF

Gross rent

$538.9K $66.00/SF

− Vacancy

−$64.7K −$7.92/SF

EGI

$474.2K $58.08/SF

− OpEx

−$177.8K −$21.78/SF

NOI

$296.4K $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 Rate 5%

$5,927,800

Cap Rate 7%

$4,234,143

Cap Rate 9%

$3,293,222

Alternative Uses

Best Use

Mixed Use

$4.23M

$3.70M – $4.94M (±1% cap)

NOI $296,390 @ 7.0% cap · market cap 7.06%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$6.76M

$5.92M – $7.89M (±1% cap)

NOI $473,243 @ 7.0% cap · market cap 11.27%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Kāmin Health - Bed-Stuy ... Medical Clinic

Suggested Use

Top Pick Law Firm Dental Office Parking Lot & Garage Real Estate Agency Auto Parts Store Skin Care Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

4,302

Businesses Nearby

Explore this area Business Placement

Demographics for 11221, NY

89,222

Population

38,690

Households

2.3

Avg Household Size

33

Median Age

42%

College-Educated

84%

High-School Grad

1.4 sq mi

ZIP Area

63,730

Density / Sq Mi

$85,122

Median Household Income

$49,202

Median Earnings

$2,055

Median Rent

$1,061,400

Median Home Value

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Built in 1931 with R6B zoning and a prominent corner position.

Where is this mixed-use property located?

The property is located at 210 Lewis Ave Brooklyn, NY.

What is the asking price?

The asking price for this property is $4,200,000.

What are key features of this property?

This property features: 8,165 property size; Built in 1931; R6B zoning