Building Details

Building Size 8,960 SF

Year Built 1910

Buildings 4

Stories 3

Units 10

Listing Agency: Coldwell Banker American Homes f***@cbamhomes.com Show Phone

Listed By: Keishera T. James · License #10401362142 Show Phone

Source: Croninreale

Added: Jul 10, 2025 Changed: Oct 23 Last Checked: Oct 23 at 5:12PM

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Investment Insights

Based on property information with market context.

This mixed-use property comprises four buildings at 275 Howard Avenue, 271–273 Howard Avenue, and 1986–1988 Fulton Street. The existing improvements include a three-bedroom, two-bath single-family home, walk-up residential buildings, and commercial storefront space. The Fulton Street buildings include a full basement at 1986 Fulton Street and a lower-level commercial unit at 1988 Fulton Street, with SRO rooms on its upper floors. The property contains three commercial units overall.

The site is at the corner of Howard Avenue and Fulton Street in Brooklyn. Zoning is R7D with a C2-4 commercial overlay, and the property is to be delivered vacant.

Key Highlights

• R7D zoning with a C2‑4 commercial overlay
• Three commercial units across four buildings
• Vacant delivery

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$273,539

Cap Rate

8.42%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,470,780 $5.5M

Cap Rate 7%

$3,907,700 $3.9M

Cap Rate 9%

$3,039,322 $3.0M

Is this asking price fair?

Market Conditions

NOI Build-Up for 8,960 SF

Gross rent

$507.5K $56.64/SF

− Vacancy

−$10.1K −$1.13/SF

EGI

$497.3K $55.51/SF

− OpEx

−$223.8K −$24.98/SF

NOI

$273.5K $30.53/SF

Area

Brooklyn, NY

Vacancy

2.00%

Lease Rate

$56.64 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,470,780

Cap Rate 7%

$3,907,700

Cap Rate 9%

$3,039,322

Alternative Uses

Best Use

Retail

$6.14M

$5.37M – $7.16M (±1% cap)

NOI $429,673 @ 7.0% cap · market cap 13.22%

Second Best

Mixed Use

$4.65M

$4.07M – $5.42M (±1% cap)

NOI $325,248 @ 7.0% cap · market cap 10.01%

Theoretical Best

Specialty Retail

$7.42M

$6.49M – $8.66M (±1% cap)

NOI $519,322 @ 7.0% cap · market cap 15.98%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

TK International Shipping Freight Service

Suggested Use

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

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

Location Intelligence

Trade Area within ½ mile

3,500

Businesses Nearby

Explore this area Business Placement

Demographics for 11233, NY

75,399

Population

34,412

Households

2.2

Avg Household Size

35

Median Age

33%

College-Educated

86%

High-School Grad

1.3 sq mi

ZIP Area

57,999

Density / Sq Mi

$62,034

Median Household Income

$47,149

Median Earnings

$1,613

Median Rent

$1,013,000

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 - Four buildings combine residential walk-up space with three commercial units at Howard Avenue and Fulton Street.

Where is this mixed-use property located?

The property is located at 275 Howard Avenue Brooklyn, NY.

What is the asking price?

The asking price for this property is $3,250,000.

What are key features of this property?

This property features: R7D zoning with a C2‑4 commercial overlay; Three commercial units across four buildings; Vacant delivery