Mixed-Use Building with Church
2218 Fulton St, Brooklyn, NY 11233
Three-story, two-unit mixed-use building with retail and residential spaces.
Type:Mixed Use
Property size:
2,400 SFPrice / SF:
$625/SF- Added:
- Apr 14, 2023
- Days on Market:
- 1139
- Last Refresh:
- May 13 at 8:07 pm
Property Features for 2218 Fulton St
General Information
- Standard status
- Active
- Size
- 2,400 SF
- Property subtype
- Mixed Use
Listing agent Kervin Vales License #109918089
Listing office Brown Harris Stevens
Listing date Apr 14, 2023
Source Crexi
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 Brown Harris Stevens
HighLights
- Two income‑generating 2‑bedroom apartments
- Mixed‑use building featuring a commercial space on the ground floor
- Individually metered for electric and gas
- Ground floor offers access to both the basement and backyard
- Each apartment includes a full kitchen and bathroom
- Building width of 20 feet
Overview
This is a 20-foot wide, three-story mixed-use building containing two units. The ground floor is occupied by a church and includes access to the basement and backyard. The second and third floors each contain a two-bedroom apartment. Each apartment includes a full kitchen, bathroom, and living/dining area. The property is individually metered for electric and gas. The total property size is 2400 square feet.
Financial Insights
Value Estimation Calculated for Retail
Conservative
$1.28M
NOI $115,091 @ 9.00% cap · cautious / downside scenario
Moderate
$1.64M
NOI $115,091 @ 7.00% cap · market / base-case scenario
Aggressive
$2.30M
NOI $115,091 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Retail
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $186.6k | $77.76 |
| − Vacancy | −$22.2k | −$9.25 |
| EGI | $164.4k | $68.51 |
| − OpEx | −$49.3k | −$20.55 |
| NOI | $115.1k | $47.95 |
2,400 SF · lease $77.76/SF/yr · vacancy 11.90% · expense 30.00%
Alternative Use Scenarios
Best Use
Retail
$1.64M
$1.44M – $1.92M
NOI $115,091 @ 7.0% cap · market cap 7.67%
Second Best
Mixed Use
$1.24M
$1.09M – $1.45M
NOI $87,120 @ 7.0% cap · market cap 5.81%
Theoretical Best
Specialty Retail
$1.99M
$1.74M – $2.32M
NOI $139,104 @ 7.0% cap · market cap 9.27%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Upper Room Baptist ...
Church
Rehoboth International Fellowship
Church
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.90755
- Latitude
- 40.677837
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Three-story, two-unit mixed-use building with retail and residential spaces.
Where is this mixed-use property located?
The property is located at 2218 Fulton St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Two income‑generating 2‑bedroom apartments; Mixed‑use building featuring a commercial space on the ground floor; Individually metered for electric and gas
