Mixed-Use Residential/Retail
For Sale
Contact for pricing
234 Atlantic Avenue, Brooklyn, NY 11201
Four-story building with two residential units and a ground-level retail unit, delivered vacant and maintained by continuous ownership.
Property Size2,774 SF
Price / SF$1,153
Days on Market113
Property Features for 234 Atlantic Avenue
General Information
Standard status
Active
Size
2,774 SF
Property subtype
Retail, Multifamily, Mixed Use
Zoning
R6A, C2-4, DB
Investment Type
Value Add
Additional Details
Multifamily Units
2
Building Details
Year Built
1910
Stories
4
Units
3
Listing Agency:
Douglas Elliman Real Estate Douglas Elliman Commercial
Listed By:
Louis Puopolo · License #NY 10301209876
(917) 374-0099
Source:
Crexi
Added: Jul 8
Changed: Oct 26
Last Checked: Oct 26 at 1:40PM
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 Douglas Elliman Real Estate Douglas Elliman Commercial
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This four-story mixed-use building is currently configured as two residential units and one ground-level retail unit. Ownership has maintained and updated the property over 86 years of continuous ownership. The building is being delivered vacant.
Located on an active retail corridor between Court Street and Boerum Place, the property sits in Brooklyn’s Downtown Brooklyn/Cobble Hill–Boerum Hill–Brooklyn Heights area. Nearby retailers include 5 Below, Michael’s, Trader Joe’s, Starbucks, Sephora, SoulCycle, Shelsky’s, and Walgreens.
Public transportation is within a short walk, with Borough Hall/Court Street Train Station approximately a 3-minute walk away, serving the 2/3/4/5/R lines.
Located on an active retail corridor between Court Street and Boerum Place, the property sits in Brooklyn’s Downtown Brooklyn/Cobble Hill–Boerum Hill–Brooklyn Heights area. Nearby retailers include 5 Below, Michael’s, Trader Joe’s, Starbucks, Sephora, SoulCycle, Shelsky’s, and Walgreens.
Public transportation is within a short walk, with Borough Hall/Court Street Train Station approximately a 3-minute walk away, serving the 2/3/4/5/R lines.
Key Highlights
- 4‑story mixed‑use building (built 1910) configured as 2 residential units plus 1 ground‑level retail unit
- Delivered vacant; maintained and updated under continuous ownership for 86 years
- Opportunity to add a 3rd apartment or update the basement to service the retail as accessory use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$133,026
Cap Rate
4.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,660,520
$2.7M
Cap Rate 7%
$1,900,371
$1.9M
Cap Rate 9%
$1,478,067
$1.5M
Market Conditions
NOI Build-Up for 2,774 SF
Gross rent
$215.7K $77.76/SF
− Vacancy
−$25.7K −$9.25/SF
EGI
$190.0K $68.51/SF
− OpEx
−$57.0K −$20.55/SF
NOI
$133.0K $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%
$2,660,520
Cap Rate 7%
$1,900,371
Cap Rate 9%
$1,478,067
Alternative Uses
Best Use
Retail
$1.90M
$1.66M – $2.22M
NOI $133,026 @ 7.0% cap · market cap 4.16%
Second Best
Multifamily LT 5
$1.39M
$1.21M – $1.62M
NOI $97,150 @ 7.0% cap · market cap 3.04%
Theoretical Best
Specialty Retail
$2.30M
$2.01M – $2.68M
NOI $160,781 @ 7.0% cap · market cap 5.02%
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
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
11,419
Businesses Nearby
Explore this area
Business Placement
Demographics for 11201, NY
69,703
Population
36,155
Households
1.9
Avg Household Size
35
Median Age
79%
College-Educated
96%
High-School Grad
1.4 sq mi
ZIP Area
49,788
Density / Sq Mi
$169,285
Median Household Income
$113,681
Median Earnings
$3,207
Median Rent
$1,131,700
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
Frequently Asked Questions
What type of property is this?
Duplex - Four-story building with two residential units and a ground-level retail unit, delivered vacant and maintained by continuous ownership.
Where is this duplex located?
The property is located at 234 Atlantic Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: 4‑story mixed‑use building (built 1910) configured as 2 residential units plus 1 ground‑level retail unit; Delivered vacant; maintained and updated under continuous ownership for 86 years; Opportunity to add a 3rd apartment or update the basement to service the retail as accessory use
