Mixed-Use Building with Air
For Sale
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295 WYCKOFF AVE BROOKLYN NY 11237-5800, Brooklyn, NY 11237
Five-unit property combining free-market apartments with a ground-floor commercial component.
Property Size4,650 SF
Price / SF$612.90
Days on Market147
Property Features for 295 WYCKOFF AVE BROOKLYN NY 11237-5800
General Information
Standard status
Active
Size
4,650 SF
Property subtype
Mixed Use
Zoning
R6
Occupancy
100%
Investment Type
Value Add
Net Operating Income
$216,600
Units
Unit Mix
4 x 2BR
Multifamily Units
4
Additional Details
Public Transit
Yes
Building Details
Year Built
1931
Year Renovated
2016
Buildings
1
Stories
3
Units
5
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Manhattan
Listed By:
Mike Salvatico · License #10301216098
Source:
Crexi
Added: Apr 10
Changed: Sep 2
Last Checked: Sep 1 at 8:57AM
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 Marcus & Millichap - Manhattan
Investment Insights
Based on property information with market context.
This mixed-use property at 295 Wyckoff Avenue contains five units: four free-market, two-bedroom apartments and one commercial space. The building encompasses approximately 4,650 square feet and was constructed in 1931. Residential tenants pay their own heat utilities, while the apartments provide a consistent two-bedroom configuration across the residential portion.
The property is positioned in Bushwick, Brooklyn, near the Myrtle-Wyckoff transit hub and multiple subway lines. It is zoned R6 with a C1-3 designation, and approximately 1,425 square feet of unused air rights are available for potential future expansion or development. The current cap rate is approaching 7%, with a pro forma cap rate above 7.4%.
The property is positioned in Bushwick, Brooklyn, near the Myrtle-Wyckoff transit hub and multiple subway lines. It is zoned R6 with a C1-3 designation, and approximately 1,425 square feet of unused air rights are available for potential future expansion or development. The current cap rate is approaching 7%, with a pro forma cap rate above 7.4%.
Key Highlights
- Five total units: four residential apartments and one commercial space
- Four free‑market two‑bedroom apartments
- Approximately 4,650 square feet in a 1931 building
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
$222,989
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
7.82%
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%
$4,459,780
$4.5M
Cap Rate 7%
$3,185,557
$3.2M
Cap Rate 9%
$2,477,656
$2.5M
Market Conditions
NOI Build-Up for 4,650 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
$361.6K $77.76/SF
− Vacancy
−$43.0K −$9.25/SF
EGI
$318.6K $68.51/SF
− OpEx
−$95.6K −$20.55/SF
NOI
$223.0K $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%
$4,459,780
Cap Rate 7%
$3,185,557
Cap Rate 9%
$2,477,656
Alternative Uses
Best Use
Retail
$3.19M
$2.79M – $3.72M
NOI $222,989 @ 7.0% cap · market cap 7.82%
Second Best
Mixed Use
$2.41M
$2.11M – $2.81M
NOI $168,795 @ 7.0% cap · market cap 5.92%
Theoretical Best
Specialty Retail
$3.85M
$3.37M – $4.49M
NOI $269,514 @ 7.0% cap · market cap 9.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
5,882
Businesses Nearby
Explore this area
Business Placement
Demographics for 11237, NY
49,418
Population
18,801
Households
2.6
Avg Household Size
31
Median Age
41%
College-Educated
76%
High-School Grad
1.0 sq mi
ZIP Area
49,418
Density / Sq Mi
$82,570
Median Household Income
$43,421
Median Earnings
$2,109
Median Rent
$1,063,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Five-unit property combining free-market apartments with a ground-floor commercial component.
Where is this mixed-use property located?
The property is located at 295 WYCKOFF AVE BROOKLYN NY 11237-5800 Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,850,000.
What are key features of this property?
This property features: Five total units: four residential apartments and one commercial space; Four free‑market two‑bedroom apartments; Approximately 4,650 square feet in a 1931 building
