Three-Unit Mixed-Use
For Sale
$800,000
Pending
2214 Pitkin Avenue, Brooklyn, NY 11207
Commercial Sale, Brooklyn, NY
Property Size2,064 SF
Lot Size0.04 Acres
Days on Market159
Property Features for 2214 Pitkin Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R7A
Rooms
Basement
Basement
Storage Space
View
City
Directions
Between Miller Ave & Van Siclen Ave.
Standard status
Pending
APN
04009-0023
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2997
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Natural Gas
Water source
Public
Building Details
Year built
1935
Number of units
3
Building materials
Brick
Listing Agency:
EXP Realty
(888) 276-0630
Listed By:
Christopher Figueroa
(516) 518-8110
Added: Mar 20
Changed: Aug 19
Last Checked: Aug 25 at 12:06AM
MLS# 974452
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1935 brick mixed-use building contains approximately 2,064 square feet across three units. The configuration includes a commercial storefront at street level, a one-bedroom apartment positioned at the rear, and a four-bedroom apartment on the second floor. A basement is also included in the property layout.
Located at 2214 Pitkin Avenue in Brooklyn, the property sits directly across from the A and C subway lines, with the J and Z trains four blocks away. The building occupies 0.043 acres and is designated R7A. Public water and public sewer serve the property, with water available and natural gas heating.
Located at 2214 Pitkin Avenue in Brooklyn, the property sits directly across from the A and C subway lines, with the J and Z trains four blocks away. The building occupies 0.043 acres and is designated R7A. Public water and public sewer serve the property, with water available and natural gas heating.
Key Highlights
- Three‑unit configuration with one storefront and two apartments
- Approximately 2,064 square feet on 0.043 acres
- Ground‑floor commercial storefront at 2214 Pitkin Avenue
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
$63,012
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
7.88%
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%
$1,260,240
$1.3M
Cap Rate 7%
$900,171
$900.2K
Cap Rate 9%
$700,133
$700.1K
Market Conditions
NOI Build-Up for 2,064 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
$116.9K $56.64/SF
− Vacancy
−$2.3K −$1.13/SF
EGI
$114.6K $55.51/SF
− OpEx
−$51.6K −$24.98/SF
NOI
$63.0K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /SF/Yr
Expense Ratio
45.00%
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%
$1,260,240
Cap Rate 7%
$900,171
Cap Rate 9%
$700,133
Alternative Uses
Best Use
Retail
$1.41M
$1.24M – $1.65M
NOI $98,978 @ 7.0% cap · market cap 12.37%
Second Best
Mixed Use
$1.07M
$936.5K – $1.25M
NOI $74,923 @ 7.0% cap · market cap 9.37%
Theoretical Best
Specialty Retail
$1.71M
$1.50M – $1.99M
NOI $119,629 @ 7.0% cap · market cap 14.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,243
Businesses Nearby
Explore this area
Business Placement
Demographics for 11207, NY
100,330
Population
38,030
Households
2.6
Avg Household Size
35
Median Age
19%
College-Educated
81%
High-School Grad
2.7 sq mi
ZIP Area
37,159
Density / Sq Mi
$55,419
Median Household Income
$41,008
Median Earnings
$1,443
Median Rent
$657,400
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 combining a ground-floor storefront with two residential apartments and R7A zoning.
Where is this mixed-use property located?
The property is located at 2214 Pitkin Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Three‑unit configuration with one storefront and two apartments; Approximately 2,064 square feet on 0.043 acres; Ground‑floor commercial storefront at 2214 Pitkin Avenue
