Williamsburg Mixed-Use Building For
For Sale
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221 N 9th St, Brooklyn, NY 11211
Mixed-use property in prime Williamsburg location with residential and commercial spaces.
Property Size6,747 SF
Price / SF$1,170
Days on Market1114
Property Features for 221 N 9th St
General Information
Standard status
Active
Size
6,747 SF
Property subtype
Mixed Use
Zoning
R6A/MX-8/M1-2
Building Details
Year Built
1950
Stories
4
Units
7
Listing Agency:
Bedford and Jane
Listed By:
Randel Moore · License #NY 10371201642
Source:
Crexi
Added: Aug 21, 2023
Changed: Aug 24
Last Checked: Sep 6 at 4:23PM
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 Bedford and Jane
Investment Insights
Based on property information with market context.
This 6,747 SF mixed-use property is located in Williamsburg, Brooklyn, on a prime block on the neighborhood’s Northside. The property is situated two blocks from McCarren Park, two blocks from the Bedford L train station, 1.5 blocks to Bedford Avenue, and four blocks to Marsha P Johnson State Park and the East River waterfront. Constructed in 2020, the property features a gut-renovated ground floor commercial space and a newly built residential portion above. The residential section consists of six luxury 1-bedroom units spread across three floors, totaling 4,124 SF. Four of these units feature 15’ ceilings. Each unit includes wide plank Northern Oak floors, floor-to-ceiling windows, forced air/heat, washers and dryers, dishwashers, White Carerra quartz countertops, extensive kitchen cabinet space, premium bath and kitchen fixtures, and lighted balconies with outdoor electrical outlets. The residential portion is designed for maximum privacy, with two units per floor sharing a semi-private elevator landing. Concrete between floors and cinder block exterior walls mitigate noise. The ground floor commercial space, totaling 2,623 SF, is currently occupied by a cafe and includes a fully built-out kitchen, a bar, and a mezzanine. It also features recently installed HVAC (2020). The property includes an elevator for the residential portion and a wooden decked rooftop. The commercial space, with its wood wraparound bar, soaring ceilings, and HVAC, is suitable for an upscale restaurant. The property will be delivered with at least one residential unit and the commercial space vacant.
Key Highlights
- Prime Williamsburg Location: Close to McCarren Park, Bedford L train, and the East River waterfront.
- Income‑Generating Property: Features a gut‑renovated commercial space and six luxury 1‑bedroom residential units.
- High‑End Residential Units: Each unit boasts wide plank Northern Oak floors, floor‑to‑ceiling windows, and private balconies.
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
$244,916
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
3.10%
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%
$4,898,320
$4.9M
Cap Rate 7%
$3,498,800
$3.5M
Cap Rate 9%
$2,721,289
$2.7M
Market Conditions
NOI Build-Up for 6,747 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
$445.3K $66.00/SF
− Vacancy
−$53.4K −$7.92/SF
EGI
$391.9K $58.08/SF
− OpEx
−$146.9K −$21.78/SF
NOI
$244.9K $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%
$4,898,320
Cap Rate 7%
$3,498,800
Cap Rate 9%
$2,721,289
Alternative Uses
Best Use
Mixed Use
$3.50M
$3.06M – $4.08M
NOI $244,916 @ 7.0% cap · market cap 3.10%
Second Best
Apartment 5plus
$2.94M
$2.57M – $3.43M
NOI $205,979 @ 7.0% cap · market cap 2.61%
Theoretical Best
Specialty Retail
$5.59M
$4.89M – $6.52M
NOI $391,056 @ 7.0% cap · market cap 4.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,392
Businesses Nearby
Explore this area
Business Placement
Demographics for 11211, NY
68,540
Population
29,068
Households
2.4
Avg Household Size
31
Median Age
55%
College-Educated
86%
High-School Grad
1.5 sq mi
ZIP Area
45,693
Density / Sq Mi
$105,183
Median Household Income
$67,533
Median Earnings
$2,357
Median Rent
$1,118,600
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 - Mixed-use property in prime Williamsburg location with residential and commercial spaces.
Where is this mixed-use property located?
The property is located at 221 N 9th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $7,900,000.
What are key features of this property?
This property features: Prime Williamsburg Location: Close to McCarren Park, Bedford L train, and the East River waterfront.; Income‑Generating Property: Features a gut‑renovated commercial space and six luxury 1‑bedroom residential units.; High‑End Residential Units: Each unit boasts wide plank Northern Oak floors, floor‑to‑ceiling windows, and private balconies.
