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: Oct 12 Last Checked: Oct 16 at 6:48AM

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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%.

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 / Yr

$222,989

Cap Rate

7.82%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,459,780 $4.5M

Cap Rate 7%

$3,185,557 $3.2M

Cap Rate 9%

$2,477,656 $2.5M

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,650 SF

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 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 (±1% cap)

NOI $222,989 @ 7.0% cap · market cap 7.82%

Second Best

Mixed Use

$2.41M

$2.11M – $2.81M (±1% cap)

NOI $168,795 @ 7.0% cap · market cap 5.92%

Theoretical Best

Specialty Retail

$3.85M

$3.37M – $4.49M (±1% cap)

NOI $269,514 @ 7.0% cap · market cap 9.46%

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

Property Analytics

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Current Use

High Low Beverage ... Cafe & Coffee Shop

Suggested Use

Top Pick Law Firm Real Estate Agency Parking Lot & Garage Acupuncture Nursing Home Veterinary Clinic

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

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

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 - 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