Mixed-Use Building in Active
For Sale
Contact for pricing
240 Avenue U, Brooklyn, NY 11223
Mixed-use building with vacant commercial space and residential income.
Property Size3,520 SF
Price / SF$596.31
Days on Market161
Property Features for 240 Avenue U
General Information
Standard status
Active
Size
3,520 SF
Property subtype
Retail, Office, Mixed Use
Zoning
R5, C1-3
Occupancy
50%
Building Details
Year Built
1931
Stories
2
Units
4
Tenancy
Multi
Listing Agency:
Commercial Acquisitions
Listed By:
Arsen Atbashyan · License #NY 0000
(917) 939-3760
Source:
Crexi
Added: May 26
Changed: Oct 25
Last Checked: Nov 1 at 5:30AM
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
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Review the available facts, identify missing information and prepare questions for the agent.
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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$127,776
Cap Rate
6.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,555,520
$2.6M
Cap Rate 7%
$1,825,371
$1.8M
Cap Rate 9%
$1,419,733
$1.4M
Market Conditions
NOI Build-Up for 3,520 SF
Gross rent
$232.3K $66.00/SF
− Vacancy
−$27.9K −$7.92/SF
EGI
$204.4K $58.08/SF
− OpEx
−$76.7K −$21.78/SF
NOI
$127.8K $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%
$2,555,520
Cap Rate 7%
$1,825,371
Cap Rate 9%
$1,419,733
Alternative Uses
Best Use
Mixed Use
$1.83M
$1.60M – $2.13M
NOI $127,776 @ 7.0% cap · market cap 6.09%
Second Best
—
—
no second resolved use
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 authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Current Use
Location Intelligence
Trade Area within ½ mile
3,120
Businesses Nearby
Explore this area
Business Placement
Demographics for 11223, NY
83,519
Population
28,857
Households
2.9
Avg Household Size
37
Median Age
34%
College-Educated
78%
High-School Grad
2.1 sq mi
ZIP Area
39,771
Density / Sq Mi
$63,950
Median Household Income
$40,592
Median Earnings
$1,653
Median Rent
$1,063,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
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 Avenue 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.
