Mixed-Use Property with Mechanic
For Sale
Contact for pricing
3101-3105 Cropsey Avenue, Brooklyn, NY 11224
M1-2 zoning allows retail, service, office, warehouse, light manufacturing, and certain community facility uses as-of-right.
Property Size4,700 SF
Lot Size0.16 Acres
Price / SF$446.81
Days on Market11
Property Features for 3101-3105 Cropsey Avenue
General Information
Standard status
Active
Size
4,700 SF
Lot size
0.16 Acres
Property subtype
Office, Industrial, Mixed Use
Zoning
M1-2
Site & Location
Highway Access
Yes
Road Access
Yes
Outdoor Storage
Yes
Additional Details
Opportunity Zone
Yes
Amenities
yard space
Building Details
Buildings
2
Tenancy
Multi
Listing Agency:
Commercial Acquisitions
Listed By:
Denis Abayev · License #NY
(718) 517-8700
Source:
Crexi
Added: Sep 17
Changed: Sep 24
Last Checked: Sep 26 at 5:27AM
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 Commercial Acquisitions
Investment Insights
Based on property information with market context.
The 7,140-square-foot property combines a 2,100-square-foot mixed-use building, a 2,600-square-foot mechanic shop, and 2,800 square feet of yard area. The building includes a retail space and a three-bedroom apartment. Three tenants occupy the store, apartment, and garage under short-term leases, with 3% annual escalations and reimbursement of 60% of real estate taxes.
Located on Cropsey Avenue between Neptune Avenue and Hart Place, the property has 60 feet of frontage and immediate access to the Belt Parkway. The Coney Island–Stillwell Avenue terminal, served by the D, F, N, and Q trains, is a short walk away. M1-2 zoning allows 14,258 square feet of commercial buildable area at 2.0 FAR, or up to 34,270 square feet for qualifying community facility uses at 4.8 FAR.
Located on Cropsey Avenue between Neptune Avenue and Hart Place, the property has 60 feet of frontage and immediate access to the Belt Parkway. The Coney Island–Stillwell Avenue terminal, served by the D, F, N, and Q trains, is a short walk away. M1-2 zoning allows 14,258 square feet of commercial buildable area at 2.0 FAR, or up to 34,270 square feet for qualifying community facility uses at 4.8 FAR.
Key Highlights
- 7,140‑square‑foot property with 60 feet of frontage on Cropsey Avenue
- Includes a 2,100‑square‑foot mixed‑use building, 2,600‑square‑foot mechanic shop, and 2,800 square feet of yard area
- Retail space and three‑bedroom apartment in the mixed‑use 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
$170,610
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
8.12%
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%
$3,412,200
$3.4M
Cap Rate 7%
$2,437,286
$2.4M
Cap Rate 9%
$1,895,667
$1.9M
Market Conditions
NOI Build-Up for 4,700 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
$310.2K $66.00/SF
− Vacancy
−$37.2K −$7.92/SF
EGI
$273.0K $58.08/SF
− OpEx
−$102.4K −$21.78/SF
NOI
$170.6K $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 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%
$3,412,200
Cap Rate 7%
$2,437,286
Cap Rate 9%
$1,895,667
Alternative Uses
Best Use
Retail
$3.22M
$2.82M – $3.76M
NOI $225,387 @ 7.0% cap · market cap 10.73%
Second Best
Mixed Use
$2.44M
$2.13M – $2.84M
NOI $170,610 @ 7.0% cap · market cap 8.12%
Theoretical Best
Specialty Retail
$3.89M
$3.41M – $4.54M
NOI $272,412 @ 7.0% cap · market cap 12.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,944
Businesses Nearby
292k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 35%
Dining 31%
Shops & Services 15%
Groceries 11%
The Home Depot
Home Improvements & Furnishings
96,609 visits/mo
0.2 miles
Food Bazaar Supermarket
Groceries
29,874 visits/mo
0.2 miles
Starbucks
Dining
19,964 visits/mo
0.1 miles
Citgo
Shops & Services
17,956 visits/mo
0.2 miles
Dunkin' Donuts
Dining
17,021 visits/mo
0.4 miles
Demographics for 11224, NY
46,019
Population
21,354
Households
2.2
Avg Household Size
46
Median Age
33%
College-Educated
82%
High-School Grad
1.6 sq mi
ZIP Area
28,762
Density / Sq Mi
$41,449
Median Household Income
$41,233
Median Earnings
$905
Median Rent
$512,900
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - M1-2 zoning allows retail, service, office, warehouse, light manufacturing, and certain community facility uses as-of-right.
Where is this mixed-use property located?
The property is located at 3101-3105 Cropsey Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: 7,140‑square‑foot property with 60 feet of frontage on Cropsey Avenue; Includes a 2,100‑square‑foot mixed‑use building, 2,600‑square‑foot mechanic shop, and 2,800 square feet of yard area; Retail space and three‑bedroom apartment in the mixed‑use building
