Mixed-Use Building with
For Sale
$1,750,000
277 Neptune Avenue, Brooklyn, NY 11235
R6-zoned property combining a restaurant space with five two-bedroom residential units.
Property Size4,560 SF
Days on Market152
Property Features for 277 Neptune Avenue
General Information
Standard status
Active
Size
4,560 SF
Property subtype
Commercial Mixed Use
Zoning
R6
Units
Unit Mix
5 x 2BR/1BA
Multifamily Units
5
Building Details
Building Size
4,560 SF
Year Built
1930
Stories
3
Tenancy
Multi
Listing Agency:
Momentum Real Estate LLC
(718) 382-0001
Listed By:
Linghui (Jason) Yang
(718) 382-0001
Source:
Kirinny
Added: Apr 2
Changed: Aug 29
Last Checked: Aug 30 at 5:47PM
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 Momentum Real Estate LLC
Investment Insights
Based on property information with market context.
Built in 1930, this mixed-use property contains one commercial space and five residential units. The commercial portion is operating as a restaurant, while each residence is configured with two bedrooms and one full bathroom. The building is located at 277 Neptune Avenue in Brooklyn’s Brighton Beach area.
The property sits among shopping, dining, supermarkets, and transportation options, providing a setting with both commercial and residential activity. R6 zoning supports the property’s mixed-use classification.
The property sits among shopping, dining, supermarkets, and transportation options, providing a setting with both commercial and residential activity. R6 zoning supports the property’s mixed-use classification.
Key Highlights
- One commercial space plus five residential units
- Restaurant currently operating in the commercial space
- Five residential units, each with 2 bedrooms and 1 full bathroom
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
$139,212
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
7.95%
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%
$2,784,240
$2.8M
Cap Rate 7%
$1,988,743
$2.0M
Cap Rate 9%
$1,546,800
$1.5M
Market Conditions
NOI Build-Up for 4,560 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
$258.3K $56.64/SF
− Vacancy
−$5.2K −$1.13/SF
EGI
$253.1K $55.51/SF
− OpEx
−$113.9K −$24.98/SF
NOI
$139.2K $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 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%
$2,784,240
Cap Rate 7%
$1,988,743
Cap Rate 9%
$1,546,800
Alternative Uses
Best Use
Specialty Retail
$3.78M
$3.30M – $4.40M
NOI $264,298 @ 7.0% cap · market cap 15.10%
Second Best
Mixed Use
$2.36M
$2.07M – $2.76M
NOI $165,528 @ 7.0% cap · market cap 9.46%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
5,495
Businesses Nearby
Explore this area
Business Placement
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
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - R6-zoned property combining a restaurant space with five two-bedroom residential units.
Where is this mixed-use property located?
The property is located at 277 Neptune Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: One commercial space plus five residential units; Restaurant currently operating in the commercial space; Five residential units, each with 2 bedrooms and 1 full bathroom
