Stuyvesant Heights Mixed-Use
For Sale
Contact for pricing
229 Malcolm X Blvd, Brooklyn, NY 11221
Four-unit mixed-use building in Stuyvesant Heights Historic District.
Property Size4,560 SF
Price / SF$548.25
Days on Market254
Property Features for 229 Malcolm X Blvd
General Information
Standard status
Active
Size
4,560 SF
Property subtype
Mixed Use, Multifamily, Retail
Listing Agency:
TerraCRG
Listed By:
Mike Hernandez · License #NY 10401225974
Source:
Crexi
Added: Jan 28
Changed: Oct 9
Last Checked: Oct 7 at 9:19AM
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 TerraCRG
Investment Insights
Based on property information with market context.
Located in the Stuyvesant Heights Historic District of Bedford-Stuyvesant, this 4-unit mixed-use building at 229 Malcolm X Blvd offers 4,560 square feet of space. The property features three fully renovated, free-market residential units, each with four bedrooms and 1.5 baths. Additionally, there is one occupied retail store with a long-term tenant. The building benefits from low expenses due to its tax class 2A status and tenants paying their separately metered heat. Situated in close proximity to the Utica Avenue A/C subway line, the property provides convenient access to Manhattan. It is also centrally located near restaurants such as Saraghina, Peaches, and Chez Oskar, and directly across the street from L’Antagoniste. The Stuyvesant Heights Historic District is known for its brownstone properties.
Key Highlights
- 100% Free Market, offering significant income potential and flexibility.
- Tax Class 2A (Tax Class Protected) resulting in low expenses.
- Located in the desirable Stuyvesant Heights Historic District, known for its brownstone properties.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$165,528
Cap Rate
6.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,310,560
$3.3M
Cap Rate 7%
$2,364,686
$2.4M
Cap Rate 9%
$1,839,200
$1.8M
Market Conditions
NOI Build-Up for 4,560 SF
Gross rent
$301.0K $66.00/SF
− Vacancy
−$36.1K −$7.92/SF
EGI
$264.8K $58.08/SF
− OpEx
−$99.3K −$21.78/SF
NOI
$165.5K $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%
$3,310,560
Cap Rate 7%
$2,364,686
Cap Rate 9%
$1,839,200
Alternative Uses
Best Use
Mixed Use
$2.36M
$2.07M – $2.76M
NOI $165,528 @ 7.0% cap · market cap 6.62%
Second Best
Multifamily LT 5
$2.28M
$2.00M – $2.66M
NOI $159,699 @ 7.0% cap · market cap 6.39%
Theoretical Best
Specialty Retail
$3.78M
$3.30M – $4.40M
NOI $264,298 @ 7.0% cap · market cap 10.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,815
Businesses Nearby
Explore this area
Business Placement
Demographics for 11221, NY
89,222
Population
38,690
Households
2.3
Avg Household Size
33
Median Age
42%
College-Educated
84%
High-School Grad
1.4 sq mi
ZIP Area
63,730
Density / Sq Mi
$85,122
Median Household Income
$49,202
Median Earnings
$2,055
Median Rent
$1,061,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Four-unit mixed-use building in Stuyvesant Heights Historic District.
Where is this mixed-use property located?
The property is located at 229 Malcolm X Blvd Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 100% Free Market, offering significant income potential and flexibility.; Tax Class 2A (Tax Class Protected) resulting in low expenses.; Located in the desirable Stuyvesant Heights Historic District, known for its brownstone properties.
