Building Details

Building Size 5,380 SF

Year Built 2005

Buildings 1

Stories 3

Tenancy Multi

Listing Agency: Show Phone

Listed By: Craig May

Source: Hedgestonehomes

Added: Oct 20 Changed: Oct 31 Last Checked: Oct 31 at 2:34AM

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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 Craig May

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Investment Insights

Based on property information with market context.

Built in 2005, this attached mixed-use property contains 5,380 square feet across a ground-floor commercial space and two upper-level apartments. The commercial unit is vacant; the second- and third-floor apartments each have two bedrooms and are currently rented, with the option to deliver them vacant. A finished basement adds usable area to the building.

The property is at 2540 Pitkin Avenue in Brooklyn, near transportation, shopping, and major roadways.

Key Highlights

• 5,380‑square‑foot attached mixed‑use property
• Vacant commercial space on the ground floor
• Two upper‑floor apartments, each with two bedrooms

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$122,971

Cap Rate

8.49%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,459,420 $2.5M

Cap Rate 7%

$1,756,729 $1.8M

Cap Rate 9%

$1,366,344 $1.4M

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,380 SF

Gross rent

$232.4K $43.20/SF

− Vacancy

−$8.8K −$1.64/SF

EGI

$223.6K $41.56/SF

− OpEx

−$100.6K −$18.70/SF

NOI

$123.0K $22.86/SF

Area

ZIP 11208

Vacancy

3.80%

Lease Rate

$43.20 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,459,420

Cap Rate 7%

$1,756,729

Cap Rate 9%

$1,366,344

Alternative Uses

Best Use

Apartment 5plus

$1.76M

$1.54M – $2.05M (±1% cap)

NOI $122,971 @ 7.0% cap · market cap 8.49%

Second Best

Mixed Use

$1.59M

$1.40M – $1.86M (±1% cap)

NOI $111,608 @ 7.0% cap · market cap 7.70%

Theoretical Best

Office A

$3.29M

$2.88M – $3.84M (±1% cap)

NOI $230,433 @ 7.0% cap · market cap 15.90%

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

Christian Community Center ... Church Women of Integrity Support Charitable Organization CCC Church Healing and Miracle Church Association / Organization

Suggested Use

Top Pick Law Firm Real Estate Agency Dental Office Parking Lot & Garage Gym & Fitness Center Skin Care Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

2,988

Businesses Nearby

Explore this area Business Placement

Demographics for 11208, NY

101,958

Population

37,261

Households

2.7

Avg Household Size

35

Median Age

16%

College-Educated

82%

High-School Grad

2.7 sq mi

ZIP Area

37,762

Density / Sq Mi

$59,988

Median Household Income

$40,156

Median Earnings

$1,563

Median Rent

$638,200

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - A ground-floor commercial unit sits below two rented apartments, with delivery options for the residential units.

Where is this mixed-use property located?

The property is located at 2540 Pitkin Avenue Brooklyn, NY.

What is the asking price?

The asking price for this property is $1,449,000.

What are key features of this property?

This property features: 5,380‑square‑foot attached mixed‑use property; Vacant commercial space on the ground floor; Two upper‑floor apartments, each with two bedrooms