Renovated Crown Heights Mixed-Use
For Sale
$1,200,000
225 Rockaway Ave, Brooklyn, NY 11233
Mixed-use triplex with restaurant and residential units in Brooklyn.
Property Size2,652 SF
Lot Size0.03 Acres
Days on Market211
Property Features for 225 Rockaway Ave
General Information
Standard status
Active
Size
2,652 SF
Lot size
0.03 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$8,058
Building Details
Building Size
2,652 SF
Year Built
1901
Units
3
Listed By:
Donald F. Murphy
(631) 652-8897
Source:
Elliman
Added: Mar 11
Changed: Oct 6
Last Checked: Oct 7 at 12:12PM
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 Donald F. Murphy
Investment Insights
Based on property information with market context.
This mixed-use triplex is located in the Crown Heights section of Brooklyn. The ground floor features a fully operational restaurant with a lease in place, offering a 4% annual rent increase. Above the commercial space are two residential units. One unit features three bedrooms and two bathrooms, while the other offers four bedrooms and two bathrooms. Both residential units are currently month-to-month. The entire property has undergone interior renovations. Tenants share in the water, sewer, and property tax expenses. The property features natural gas heating and is located near shops, restaurants, and public transportation.
Key Highlights
- Fully operational ground floor restaurant with lease in place and 4% annual rent increase (Y.O.Y.) for steady income.
- Two spacious, renovated residential units (3‑bed/2‑bath and 4‑bed/2‑bath)** offering flexibility for investors or owner‑occupants.
- Prime Crown Heights location with easy access to shops, restaurants, and public transportation.**
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$96,268
Cap Rate
8.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,925,360
$1.9M
Cap Rate 7%
$1,375,257
$1.4M
Cap Rate 9%
$1,069,644
$1.1M
Market Conditions
NOI Build-Up for 2,652 SF
Gross rent
$175.0K $66.00/SF
− Vacancy
−$21.0K −$7.92/SF
EGI
$154.0K $58.08/SF
− OpEx
−$57.8K −$21.78/SF
NOI
$96.3K $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%
$1,925,360
Cap Rate 7%
$1,375,257
Cap Rate 9%
$1,069,644
Alternative Uses
Best Use
Specialty Retail
$2.20M
$1.92M – $2.56M
NOI $153,710 @ 7.0% cap · market cap 12.81%
Second Best
Mixed Use
$1.38M
$1.20M – $1.60M
NOI $96,268 @ 7.0% cap · market cap 8.02%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
3,859
Businesses Nearby
Explore this area
Business Placement
Demographics for 11233, NY
75,399
Population
34,412
Households
2.2
Avg Household Size
35
Median Age
33%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
57,999
Density / Sq Mi
$62,034
Median Household Income
$47,149
Median Earnings
$1,613
Median Rent
$1,013,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use triplex with restaurant and residential units in Brooklyn.
Where is this mixed-use property located?
The property is located at 225 Rockaway Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Fully operational ground floor restaurant with lease in place and **4% annual rent increase (Y.O.Y.) for steady income.**; Two spacious, renovated residential units (3‑bed/2‑bath and 4‑bed/2‑bath)** offering flexibility for investors or owner‑occupants.; Prime Crown Heights location with easy access to shops, restaurants, and public transportation.**
