Occupied Mixed-Use Corner
For Sale
$3,500,000
2374 Nostrand Ave, Brooklyn, NY 11210
Fully occupied corner property combines retail storefronts and apartments with central air and on-site parking.
Property Size4,860 SF
Price / SF$720.16
Days on Market445
Property Features for 2374 Nostrand Ave
General Information
Standard status
Active
Size
4,860 SF
Total Parking Spaces
6
Property subtype
Mixed Use
Zoning
R6/C2-2
Occupancy
100%
Net Operating Income
$157,181
Site & Location
Corner Location
Yes
Road Access
Yes
Units
Unit Mix
1 x 1BR, 1 x Studio, 1 x 2BR
Multifamily Units
3
Additional Details
Gross Income
$204,600
Amenities
LED lighting
200 Amp power
CAC
high ceilings
basement
Central Air
3
6 Parking Spaces.
Building Details
Year Built
1930
Buildings
1
Tenancy
Multi
Listing Agency:
All Island Estates Realty Corp
(516) 279-8828
Listed By:
Richard Matt Shane · License #10301216230
(516) 279-8828
Source:
Xome
Added: Jun 12, 2025
Changed: Aug 29
Last Checked: Aug 29 at 9:27PM
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 All Island Estates Realty Corp
Investment Insights
Based on property information with market context.
Located at 2374 Nostrand Ave in Brooklyn, this 4,860-square-foot mixed-use corner building contains seven units: four stores and three apartments. The property is 100% occupied and includes a basement, central air, high 9-foot ceilings, all-new LED lighting, and 200 Amp power. Six parking spaces serve the building, which was constructed in 1930.
The site carries R6/C2-2 zoning and provides 102 feet of frontage on Nostrand Avenue plus 22 feet on Avenue J. Its Midwood location is a few blocks from Flatbush Avenue and Brooklyn College, with nearby retailers and service providers including Target, ShopRite, Staples, T.J. Maxx, Dunkin’, Dollar Tree, Aldi, USPS, Honda, and Bank of America.
The existing configuration supports a combination of neighborhood retail and residential occupancy within a single commercial property.
The site carries R6/C2-2 zoning and provides 102 feet of frontage on Nostrand Avenue plus 22 feet on Avenue J. Its Midwood location is a few blocks from Flatbush Avenue and Brooklyn College, with nearby retailers and service providers including Target, ShopRite, Staples, T.J. Maxx, Dunkin’, Dollar Tree, Aldi, USPS, Honda, and Bank of America.
The existing configuration supports a combination of neighborhood retail and residential occupancy within a single commercial property.
Key Highlights
- Seven‑unit configuration with 4 stores and 3 apartments
- 100% occupied mixed‑use building at 2374 Nostrand Ave, Brooklyn, NY 11210
- 102' of frontage on Nostrand Avenue plus 22' on Avenue J
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$233,059
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.66%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,661,180
$4.7M
Cap Rate 7%
$3,329,414
$3.3M
Cap Rate 9%
$2,589,544
$2.6M
Market Conditions
NOI Build-Up for 4,860 SF
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.
Gross rent
$377.9K $77.76/SF
− Vacancy
−$45.0K −$9.25/SF
EGI
$332.9K $68.51/SF
− OpEx
−$99.9K −$20.55/SF
NOI
$233.1K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,661,180
Cap Rate 7%
$3,329,414
Cap Rate 9%
$2,589,544
Alternative Uses
Best Use
Retail
$3.33M
$2.91M – $3.88M
NOI $233,059 @ 7.0% cap · market cap 6.66%
Second Best
Mixed Use
$2.52M
$2.21M – $2.94M
NOI $176,418 @ 7.0% cap · market cap 5.04%
Theoretical Best
Specialty Retail
$4.02M
$3.52M – $4.69M
NOI $281,686 @ 7.0% cap · market cap 8.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,461
Businesses Nearby
Explore this area
Business Placement
Demographics for 11210, NY
62,805
Population
22,817
Households
2.8
Avg Household Size
38
Median Age
39%
College-Educated
89%
High-School Grad
1.6 sq mi
ZIP Area
39,253
Density / Sq Mi
$83,261
Median Household Income
$50,286
Median Earnings
$1,734
Median Rent
$817,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully occupied corner property combines retail storefronts and apartments with central air and on-site parking.
Where is this mixed-use property located?
The property is located at 2374 Nostrand Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Seven‑unit configuration with 4 stores and 3 apartments; 100% occupied mixed‑use building at 2374 Nostrand Ave, Brooklyn, NY 11210; 102' of frontage on Nostrand Avenue plus 22' on Avenue J
