273 Brighton Beach Avenue, Brooklyn, NY 11235

Building Details

Year Built 1992 More

Year Renovated 2022 More

Buildings 1 More

Tenancy Multi More

Listing Agency: Pointbridge CRE

Listed By: Peter Kim · License #10491213990

Source: Crexi

Added: Oct 16 Changed: Nov 8 Last Checked: Nov 8 at 6:04PM

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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 Pointbridge CRE

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Investment Insights

Based on property information with market context.

This 19,000-square-foot mixed-use property contains retail and office space across its first and second floors, mezzanine, and basement. Built in 1992, the building was converted into a mall in 2022. Its tenant roster is distributed across multiple occupants rather than centered on a single tenant.

The property is at 273 Brighton Beach Avenue in Brooklyn, with direct access to the waterfront, according to the property information.

Key Highlights

• 19,000 SF of retail and office space
• Built in 1992; converted into a mall in 2022
• Space spans the first floor, second floor, mezzanine, and basement

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$911,137

Cap Rate

4.61%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$18,222,740 $18.2M

Cap Rate 7%

$13,016,243 $13.0M

Cap Rate 9%

$10,123,744 $10.1M

Is this asking price fair?

Market Conditions

NOI Build-Up for 19,000 SF

Gross rent

$1.48M $77.76/SF

− Vacancy

−$175.8K −$9.25/SF

EGI

$1.30M $68.51/SF

− OpEx

−$390.5K −$20.55/SF

NOI

$911.1K $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 Rate 5%

$18,222,740

Cap Rate 7%

$13,016,243

Cap Rate 9%

$10,123,744

Alternative Uses

Best Use

Retail

$13.02M

$11.39M – $15.19M (±1% cap)

NOI $911,137 @ 7.0% cap · market cap 4.61%

Second Best

Mixed Use

$9.85M

$8.62M – $11.50M (±1% cap)

NOI $689,700 @ 7.0% cap · market cap 3.49%

Theoretical Best

Specialty Retail

$15.73M

$13.77M – $18.35M (±1% cap)

NOI $1,101,240 @ 7.0% cap · market cap 5.58%

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

Shopping centers

Suggested Use

Top Pick Real Estate Agency Catering Service HVAC Service Nursing Home Electrical Service Hotel & Motel

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

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

3,817

Businesses Nearby

84k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 56% Dining 31% Electronics 13%

Starbucks Dining

18,545 visits/mo 0.1 miles

Mobil Shops & Services

16,113 visits/mo 0.4 miles

Chase Bank Shops & Services

15,188 visits/mo 0.2 miles

Webster Bank Shops & Services

8,367 visits/mo 0.5 miles

AT&T Electronics

8,318 visits/mo 0.2 miles

Demographics for 11235, NY

88,482

Population

37,188

Households

2.4

Avg Household Size

44

Median Age

50%

College-Educated

90%

High-School Grad

2.5 sq mi

ZIP Area

35,393

Density / Sq Mi

$61,689

Median Household Income

$48,898

Median Earnings

$1,649

Median Rent

$723,900

Median Home Value

Market

Average Price Trend$/SF for Mixed-use properties in Brooklyn, NY

$709 Jul

$640 Aug

$678 Sep

$637 Oct

Properties on Market for Mixed-use properties in Brooklyn

Jul

Aug

Sep

Oct

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Retail and office space spans several levels, including a mezzanine and basement.

Where is this mixed-use property located?

The property is located at 273 Brighton Beach Avenue Brooklyn, NY.

What is the asking price?

The asking price for this property is $19,750,000.

What are key features of this property?

This property features: 19,000 SF of retail and office space; Built in 1992; converted into a mall in 2022; Space spans the first floor, second floor, mezzanine, and basement