Building Details

Year Built 1935

Buildings 1

Stories 3

Listing Agency: COZY CORNER REALTY LLC

Listed By: Lorraine Digregorio Show Phone

Source: Crystinandcorealty

Added: Jul 28 Changed: Oct 25 Last Checked: Oct 26 at 3:50AM

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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 COZY CORNER REALTY LLC

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Investment Insights

Based on property information with market context.

This mixed-use property combines three residential apartments with a ground-floor commercial store measuring 14 by 30 feet. The apartments are to be delivered vacant. The store is occupied by a long-term tenant who may remain, or the space may be provided vacant. A full basement connects to the backyard. The building dates to 1935, and its boiler was replaced in May 2025.

The property is on 65th Street near Bay Parkway, with the Belt Parkway described as minutes away. Its zoning is R6A / C2-3. The source identifies 6,000 buildable square feet and advises consulting an architect regarding future construction.

Key Highlights

• Three residential apartments and one ground‑floor commercial store
• Store measures 14 by 30 feet; current tenant may remain or space may be delivered vacant
• Full basement with access to the backyard

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$124,202

Cap Rate

7.77%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,484,040 $2.5M

Cap Rate 7%

$1,774,314 $1.8M

Cap Rate 9%

$1,380,022 $1.4M

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,590 SF

Gross rent

$201.4K $77.76/SF

− Vacancy

−$24.0K −$9.25/SF

EGI

$177.4K $68.51/SF

− OpEx

−$53.2K −$20.55/SF

NOI

$124.2K $47.95/SF

Area

Brooklyn, NY

Vacancy

11.90%

Lease Rate

$77.76 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,484,040

Cap Rate 7%

$1,774,314

Cap Rate 9%

$1,380,022

Alternative Uses

Best Use

Retail

$1.77M

$1.55M – $2.07M (±1% cap)

NOI $124,202 @ 7.0% cap · market cap 7.77%

Second Best

Mixed Use

$1.34M

$1.18M – $1.57M (±1% cap)

NOI $94,017 @ 7.0% cap · market cap 5.88%

Theoretical Best

Specialty Retail

$2.14M

$1.88M – $2.50M (±1% cap)

NOI $150,116 @ 7.0% cap · market cap 9.39%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Nail Station I ... Nail Salon

Suggested Use

Top Pick Law Firm Real Estate Agency Parking Lot & Garage Hotel & Motel Gym & Fitness Center Bar & Pub

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,039

Businesses Nearby

Explore this area Business Placement

Demographics for 11204, NY

85,885

Population

27,498

Households

3.1

Avg Household Size

34

Median Age

30%

College-Educated

74%

High-School Grad

1.6 sq mi

ZIP Area

53,678

Density / Sq Mi

$67,588

Median Household Income

$33,461

Median Earnings

$1,751

Median Rent

$1,097,200

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Three residential apartments accompany a ground-floor commercial space, with the apartments slated for vacancy.

Where is this mixed-use property located?

The property is located at 2254 65th Street Brooklyn, NY.

What is the asking price?

The asking price for this property is $1,599,000.

What are key features of this property?

This property features: Three residential apartments and one ground‑floor commercial store; Store measures 14 by 30 feet; current tenant may remain or space may be delivered vacant; Full basement with access to the backyard