Mixed-Use Property with Retail
New
For Sale
$32,500,000
262-276 Atlantic Ave, Brooklyn, NY 11201
Newer mixed-use asset with two occupied commercial components and long-term lease arrangements.
Property Size26,733 SF
Price / SF$1,215
Days on Market4
Property Features for 262-276 Atlantic Ave
General Information
Standard status
Active
Size
26,733 SF
Property subtype
Urban-High Street
Occupancy
100%
Additional Details
Cap Rate
5.5%
Frontage
150 ft
Amenities
Newly constructed, trophy retail property in the heart of Boerum Hill, one of Brooklyn's most affluent and desirable neighborhoods. Exceptional foot traffic and surrounded by major retailers
26,733 SF, 100% occupied property with two tenants; Five Below, which has 1,970 locations and revenue last year of $5.9 Billion, and the NYC School Construction Authority.
In-place assumable financing at 3.5% interest until 2032. Rare NYC retail asset to come to market with stable cash flow and under market financing in one of Brooklyn's best neighborhoods.
Building Details
Building Size
26,733 SF
Year Built
2021
Buildings
1
Tenancy
Multi
Listing Agency:
New York City Office
(212) 430-5229
Listed By:
Scott Plasky · License #License(s): NY: 40PL1176852
(212) 430-5229
Source:
Marcusmillichap
Added: Aug 17
Changed: Aug 18
Last Checked: Aug 19 at 4:57AM
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 New York City Office
Investment Insights
Based on property information with market context.
Completed in 2021, this 26,733-square-foot mixed-use property combines retail and institutional occupancy at 262-276 Atlantic Ave in Brooklyn. The building provides 150 feet of retail frontage along Atlantic Avenue and includes ground-floor, lower-level, and second-floor space. Five Below occupies 10,000 SF, including a 655 SF ground-floor entrance and the full lower level. The New York City School Construction Authority leases 8,810 SF on the ground floor and the entire second floor for a new school facility.
The property is fully occupied by two tenants under long-term leases featuring 10% increases every five years. The asset also carries a 25-year ICAP tax abatement scheduled through 2045. Its Atlantic Avenue position places the building between Boerum Place and Smith Street, with nearby national retailers, restaurants, and neighborhood amenities described in the source information.
The property is fully occupied by two tenants under long-term leases featuring 10% increases every five years. The asset also carries a 25-year ICAP tax abatement scheduled through 2045. Its Atlantic Avenue position places the building between Boerum Place and Smith Street, with nearby national retailers, restaurants, and neighborhood amenities described in the source information.
Key Highlights
- 26,733‑square‑foot mixed‑use property completed in 2021
- 150 feet of retail frontage along Atlantic Avenue
- Two tenants occupy the property under long‑term leases
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
$1,281,970
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
3.94%
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%
$25,639,400
$25.6M
Cap Rate 7%
$18,313,857
$18.3M
Cap Rate 9%
$14,244,111
$14.2M
Market Conditions
NOI Build-Up for 26,733 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
$2.08M $77.76/SF
− Vacancy
−$247.4K −$9.25/SF
EGI
$1.83M $68.51/SF
− OpEx
−$549.4K −$20.55/SF
NOI
$1.28M $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%
$25,639,400
Cap Rate 7%
$18,313,857
Cap Rate 9%
$14,244,111
Alternative Uses
Best Use
Retail
$18.31M
$16.02M – $21.37M
NOI $1,281,970 @ 7.0% cap · market cap 3.94%
Second Best
Mixed Use
$13.86M
$12.13M – $16.17M
NOI $970,408 @ 7.0% cap · market cap 2.99%
Theoretical Best
Specialty Retail
$22.13M
$19.37M – $25.82M
NOI $1,549,445 @ 7.0% cap · market cap 4.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
12,537
Businesses Nearby
360k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 24%
Dining 23%
Shops & Services 16%
Hotels & Casinos 15%
Trader Joe's
Groceries
62,148 visits/mo
0.2 miles
New York Marriott at the Brooklyn Bridge
Hotels & Casinos
48,622 visits/mo
0.4 miles
Key Food - Atlantic Avenue
Groceries
21,965 visits/mo
0.3 miles
PetSmart
Shops & Services
18,203 visits/mo
0.1 miles
Goodwill
Apparel
18,116 visits/mo
0.3 miles
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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Newer mixed-use asset with two occupied commercial components and long-term lease arrangements.
Where is this mixed-use property located?
The property is located at 262-276 Atlantic Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $32,500,000.
What are key features of this property?
This property features: 26,733‑square‑foot mixed‑use property completed in 2021; 150 feet of retail frontage along Atlantic Avenue; Two tenants occupy the property under long‑term leases
