Mixed-Use Building in Active
240 AVE U Brooklyn, NY 11223
240 AVE U, Brooklyn, NY, 11223
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For Sale
Contact for pricing
Mixed-use building with vacant commercial space and residential income.
Property Size3,520 SF
Price / SF$596.31
Days on Market56
Property Features for 240 AVE U
General Information
- Standard status
- Active
- Size
- 3,520 SF
- Property subtype
- Retail, Office, Mixed Use
Building Details
- Year Built
- 1931
Listing Agency
Commercial Acquisitions
(718) 517-8700
Listed by
Arsen Atbashyan · License #NY 0000
Source
Crexi
Added: May 26 Updated: Jul 10 at 3:58 pm Checked: Jul 19 at 8:51 am
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 Commercial Acquisitions
Investment Insights
Based on property information with market context.
The property at 240 Avenue U is a mixed-use building situated in a high-traffic retail area of Brooklyn. The building features a ground-floor commercial space of 1920 square feet, which will be delivered vacant. This presents an opportunity for an owner-user to occupy the space while also generating income from the residential units. The second floor, totaling 1600 square feet, includes two apartments. One is a 3-bedroom apartment at the rear, currently rented for $2,348 per month. The other is a 1-bedroom apartment at the front, rented for $1,800 per month. These apartments provide a consistent cash flow.
Key Highlights
- Vacant 1,920 SF ground‑floor commercial space ideal for owner‑user.
- Stable in‑place cash flow from two residential apartments.
- Located in a highly active Brooklyn retail corridor.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $273.7k | $77.76 |
| − Vacancy | −$32.6k | −$9.25 |
| EGI | $241.1k | $68.51 |
| − OpEx | −$72.3k | −$20.55 |
| NOI | $168.8k | $47.95 |
3,520 SF · lease $77.76/SF/yr · vacancy 11.90% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.41M
$2.11M – $2.81M
NOI $168,800 @ 7.0% cap · market cap 8.04%
Second Best
Mixed Use
$1.83M
$1.60M – $2.13M
NOI $127,776 @ 7.0% cap · market cap 6.09%
Theoretical Best
Specialty Retail
$2.91M
$2.55M – $3.40M
NOI $204,019 @ 7.0% cap · market cap 9.72%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
C T Bridal ...
Clothing & Fashion Store
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Mixed-use building with vacant commercial space and residential income.
Where is this mixed-use property located?
The property is located at 240 AVE U Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,099,000.
What are key features of this property?
This property features: Vacant 1,920 SF ground‑floor commercial space ideal for owner‑user.; Stable in‑place cash flow from two residential apartments.; Located in a highly active Brooklyn retail corridor.
