Mixed-Use Property with Tax
For Sale
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299 Chauncey St, Brooklyn, NY 11233
6,583 SF mixed-use property with 7 apartments and 2 storefronts.
Property Size6,583 SF
Price / SF$398.75
Days on Market215
Property Features for 299 Chauncey St
General Information
Standard status
Active
Size
6,583 SF
Property subtype
Mixed Use, Multifamily
Zoning
R6B, C2-4
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$210,000
Building Details
Year Built
1925
Year Renovated
2020
Buildings
5
Stories
3
Units
9
Listing Agency:
Eastern Union
Listed By:
Ben Weiss · License #NY49WE0945435
Source:
Crexi
Added: Mar 9
Changed: Oct 5
Last Checked: Oct 7 at 10:23AM
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 Eastern Union
Investment Insights
Based on property information with market context.
This 6,583 square foot mixed-use investment property features a combination of recently renovated and newly constructed spaces, comprising 7 apartments and 2 storefronts. The building benefits from J-51 tax advantages. It features a configuration with 4 private townhomes. The property is currently generating a gross income of $25,000 per month, totaling $300,000 annually. Located in a growing neighborhood, it is situated 3 blocks from the Ralph Ave C train, providing accessibility.
Key Highlights
- Strong income‑generating asset: Currently generating $25,000 per month ($300,000 annually).
- J‑51 tax advantages.
- Rare configuration with 4 private townhomes.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$238,963
Cap Rate
9.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,779,260
$4.8M
Cap Rate 7%
$3,413,757
$3.4M
Cap Rate 9%
$2,655,144
$2.7M
Market Conditions
NOI Build-Up for 6,583 SF
Gross rent
$434.5K $66.00/SF
− Vacancy
−$52.1K −$7.92/SF
EGI
$382.3K $58.08/SF
− OpEx
−$143.4K −$21.78/SF
NOI
$239.0K $36.30/SF
Area
Brooklyn, NY
Vacancy
12.00%
Lease Rate
$66.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,779,260
Cap Rate 7%
$3,413,757
Cap Rate 9%
$2,655,144
Alternative Uses
Best Use
Mixed Use
$3.41M
$2.99M – $3.98M
NOI $238,963 @ 7.0% cap · market cap 9.10%
Second Best
Apartment 5plus
$2.87M
$2.51M – $3.35M
NOI $200,972 @ 7.0% cap · market cap 7.66%
Theoretical Best
Specialty Retail
$5.45M
$4.77M – $6.36M
NOI $381,551 @ 7.0% cap · market cap 14.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
3,337
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - 6,583 SF mixed-use property with 7 apartments and 2 storefronts.
Where is this mixed-use property located?
The property is located at 299 Chauncey St Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,625,000.
What are key features of this property?
This property features: Strong income‑generating asset: Currently generating $25,000 per month ($300,000 annually).; J‑51 tax advantages.; Rare configuration with 4 private townhomes.
