Mixed-Use Corner Building with
221 Nassau Avenue, Brooklyn, NY 11222
- Added:
- Sep 12, 2024
- Days on Market:
- 663
- Last Refresh:
- Jul 6 at 8:06 am
Property Features for 221 Nassau Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Bedrooms
- 8
- Bathrooms
- 5
- Rooms
- Bedroom 7, Bathroom 2, Bedroom 4, Bathroom 4, Bedroom 8, Bathroom 3, Bedroom 3, Bedroom 1, Bathroom 1, Bedroom 6, Bathroom 5, Bedroom 5, Bedroom 2
- Standard status
- Active Under Contract
Building Details
- Architectural style
- Other
Listing agent Jeff Valcourt
Listing office Compass 3rd floor 90 Fifth Avenue, 3rd Floor, New York, NY (646) 982-0353
Listing date Sep 12, 2024
MLS# 11389281
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.
HighLights
- Semi‑detached mixed‑use corner building at 221 Nassau Avenue with four residential apartments and one ground‑floor commercial unit
- Nearly 4,800 sq. ft. building size on a 25' x 85' lot
- Directly across the street from the center north entrance to McGolrick Park
- Zoned R6B and C2‑4
- Protected tax class 2A
- Can be delivered vacant
Overview
221 Nassau Avenue is a semi-detached mixed-use corner building comprising four residential apartments and one ground-floor commercial unit. The offering totals nearly 4,800 square feet and sits on a 25' x 85' lot. The property is zoned R6B and C2-4 and benefits from protected tax class 2A. It is being offered for sale and can be delivered vacant, allowing an incoming owner to plan renovations, leasing, and configuration as needed with an architect and engineer.
The building is positioned directly across the street from the center north entrance to McGolrick Park. It is also noted for its close proximity to the Nassau Ave G train and the surrounding commercial streetscape, which includes local grocery stores, restaurants, coffee shops, Citibike stations, and nightlife.
This property may suit owner-users or investors looking for a small multi-unit building with ground-floor retail income, combined with residential apartments above. With the commercial unit already in place and the asset deliverable vacant, a buyer has flexibility to evaluate current conditions and determine next steps for tenanting, improving operations, and updating the building to match their business plan, while working within the property’s stated zoning parameters.
The building is positioned directly across the street from the center north entrance to McGolrick Park. It is also noted for its close proximity to the Nassau Ave G train and the surrounding commercial streetscape, which includes local grocery stores, restaurants, coffee shops, Citibike stations, and nightlife.
This property may suit owner-users or investors looking for a small multi-unit building with ground-floor retail income, combined with residential apartments above. With the commercial unit already in place and the asset deliverable vacant, a buyer has flexibility to evaluate current conditions and determine next steps for tenanting, improving operations, and updating the building to match their business plan, while working within the property’s stated zoning parameters.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $373.2k | $77.76 |
| − Vacancy | −$44.4k | −$9.25 |
| EGI | $328.8k | $68.51 |
| − OpEx | −$98.6k | −$20.55 |
| NOI | $230.2k | $47.95 |
4,800 SF · lease $77.76/SF/yr · vacancy 11.90% · expense 30.00%
Alternative Uses
Best Use
Retail
$3.29M
$2.88M – $3.84M
NOI $230,182 @ 7.0% cap · market cap 6.77%
Second Best
Mixed Use
$2.49M
$2.18M – $2.90M
NOI $174,240 @ 7.0% cap · market cap 5.12%
Theoretical Best
Specialty Retail
$3.97M
$3.48M – $4.64M
NOI $278,208 @ 7.0% cap · market cap 8.18%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Sunview Luncheonette
Community Center
Run a Luncheonette Camp
Campground & RV Park
Brooklyn hookup
Nightclub
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.943742
- Latitude
- 40.725886
Nearby Similar for Sale
FAQs
What type of property is this?
Quadplex - Semi-detached mixed-use corner building with four apartments and a ground-floor retail unit on a 25' x 85' lot.
Where is this quadplex located?
The property is located at 221 Nassau Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,400,000.
What are key features of this property?
This property features: Semi‑detached mixed‑use corner building at 221 Nassau Avenue with four residential apartments and one ground‑floor commercial unit; Nearly 4,800 sq. ft. building size on a 25' x 85' lot; Directly across the street from the center north entrance to McGolrick Park
