Three-Story Mixed-Use
New
For Sale
$3,597,000
3007 Fort Hamilton Parkway, Brooklyn, NY 11218
Ground-floor restaurant space is paired with five free-market apartments in a diversified residential and commercial configuration.
Property Size5,271 SF
Lot Size0.05 Acres
Price / SF$682.41
Days on Market6
Property Features for 3007 Fort Hamilton Parkway
General Information
Standard status
Active
Size
5,271 SF
Lot size
0.05 Acres
Property subtype
Mixed Use
Units
Unit Mix
1 x 2BR duplex, 2 x 2BR, 2 x 1BR
Multifamily Units
5
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$18,472
Building Details
Building Size
5,271 SF
Year Built
1931
Buildings
1
Stories
3
Tenancy
Multi
Listing Agency:
E House Realty & Mgt. Inc.
Listed By:
MeiJuan (Mandy) Jiang
(718) 680-2776
Source:
Penrealty
Added: Sep 17
Changed: Sep 19
Last Checked: Sep 21 at 8:32AM
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 E House Realty & Mgt. Inc.
Investment Insights
Based on property information with market context.
Built in 1931, this three-story mixed-use property combines a ground-floor commercial space currently used as a pizza restaurant with five free-market apartments. The residential component includes one two-bedroom duplex, two two-bedroom apartments, and two one-bedroom apartments, creating six income-producing units in total. The building occupies a 22 x 100 lot and measures approximately 22 x 80.
The property is located on Fort Hamilton Parkway in Brooklyn’s Windsor Terrace, approximately 0.2 miles from the Fort Hamilton Parkway F/G subway station. Prospect Park, shopping, restaurants, cafes, and other neighborhood amenities are nearby. Residential tenants pay their own heat and hot water, a structure that limits the owner’s responsibility for those utilities.
The property is located on Fort Hamilton Parkway in Brooklyn’s Windsor Terrace, approximately 0.2 miles from the Fort Hamilton Parkway F/G subway station. Prospect Park, shopping, restaurants, cafes, and other neighborhood amenities are nearby. Residential tenants pay their own heat and hot water, a structure that limits the owner’s responsibility for those utilities.
Key Highlights
- Six income‑producing units: one commercial space and five free‑market apartments
- Residential mix includes one 2‑bedroom duplex, two 2‑bedroom apartments, and two 1‑bedroom apartments
- Ground‑floor commercial space currently operating as a pizza restaurant
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
$305,507
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
8.49%
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%
$6,110,140
$6.1M
Cap Rate 7%
$4,364,386
$4.4M
Cap Rate 9%
$3,394,522
$3.4M
Market Conditions
NOI Build-Up for 5,271 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
$442.8K $84.00/SF
− Vacancy
−$35.4K −$6.72/SF
EGI
$407.3K $77.28/SF
− OpEx
−$101.8K −$19.32/SF
NOI
$305.5K $57.96/SF
Area
Brooklyn, NY
Vacancy
8.00%
Lease Rate
$84.00 /SF/Yr
Expense Ratio
25.00%
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%
$6,110,140
Cap Rate 7%
$4,364,386
Cap Rate 9%
$3,394,522
Alternative Uses
Best Use
Specialty Retail
$4.36M
$3.82M – $5.09M
NOI $305,507 @ 7.0% cap · market cap 8.49%
Second Best
Mixed Use
$2.73M
$2.39M – $3.19M
NOI $191,337 @ 7.0% cap · market cap 5.32%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
5
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,612
Businesses Nearby
Explore this area
Business Placement
Demographics for 11218, NY
78,642
Population
27,403
Households
2.9
Avg Household Size
35
Median Age
51%
College-Educated
86%
High-School Grad
1.4 sq mi
ZIP Area
56,173
Density / Sq Mi
$95,916
Median Household Income
$55,190
Median Earnings
$1,966
Median Rent
$914,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Ground-floor restaurant space is paired with five free-market apartments in a diversified residential and commercial configuration.
Where is this mixed-use property located?
The property is located at 3007 Fort Hamilton Parkway Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,597,000.
What are key features of this property?
This property features: Six income‑producing units: one commercial space and five free‑market apartments; Residential mix includes one 2‑bedroom duplex, two 2‑bedroom apartments, and two 1‑bedroom apartments; Ground‑floor commercial space currently operating as a pizza restaurant
