Mixed-Use Retail and Apartments
For Sale
Contact for pricing
321 Grand Street, New York City, NY 11211
Mixed-use structure with retail on the first floor and two apartments above, creating flexible income streams.
Property Size3,162 SF
Lot Size0.05 Acres
Price / SF$1,106
Days on Market51
Property Features for 321 Grand Street
General Information
Standard status
Active
Size
3,162 SF
Lot size
0.05 Acres
Property subtype
Multifamily, Mixed Use
Additional Details
Multifamily Units
2
Building Details
Year Built
1870
Stories
3
Listing Agency:
IPRG Investment Property Realty Group
Listed By:
Derek Bestreich · License #10991237362
Source:
Crexi
Added: Jun 16
Changed: Jul 10
Last Checked: Aug 4 at 3:10PM
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 IPRG Investment Property Realty Group
Investment Insights
Based on property information with market context.
321 Grand Street is a mixed-use building configured with retail space on the first floor and two apartments on the second and third floors. The property footprint is built out 20.42 feet by 65 feet on the first floor, and 20.42 feet by 45 feet on the second and third floors. The overall site is described as a 20.42-foot by 100-foot lot, for an approximate total building area of 3,165 square feet.
The building is located in the Williamsburg section of Brooklyn, positioned between Havemeyer Street and Marcy Avenue. It is also described as being in close proximity to the L and G subway lines, supporting convenient access for both retail customers and residents.
For buyers seeking an owner-occupied or investment-oriented property, the first-floor retail component combined with two separate residential units can provide operational flexibility. The clear vertical split between retail and residential uses may appeal to tenants and operators looking for a straightforward mixed-use arrangement within a compact urban footprint, subject to applicable lease terms and building operations.
The building is located in the Williamsburg section of Brooklyn, positioned between Havemeyer Street and Marcy Avenue. It is also described as being in close proximity to the L and G subway lines, supporting convenient access for both retail customers and residents.
For buyers seeking an owner-occupied or investment-oriented property, the first-floor retail component combined with two separate residential units can provide operational flexibility. The clear vertical split between retail and residential uses may appeal to tenants and operators looking for a straightforward mixed-use arrangement within a compact urban footprint, subject to applicable lease terms and building operations.
Key Highlights
- Mixed‑use building with retail on the first floor and 2 apartments above
- Approximately 3,165 SF total with first‑floor space 20.42 ft x 65 ft and second/third floors 20.42 ft x 45 ft each
- On a 20.42 ft x 100 ft lot (20.42 ft frontage)
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $161.3k | $51.00 |
| − Vacancy | −$8.4k | −$2.65 |
| EGI | $152.9k | $48.35 |
| − OpEx | −$45.9k | −$14.50 |
| NOI | $107.0k | $33.84 |
3,162 SF · lease $51.00/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$6.36M
$5.56M – $7.42M
NOI $444,971 @ 7.0% cap · market cap 12.71%
Second Best
Multifamily LT 5
$1.53M
$1.34M – $1.78M
NOI $107,013 @ 7.0% cap · market cap 3.06%
Theoretical Best
Specialty Retail
$7.87M
$6.89M – $9.18M
NOI $550,947 @ 7.0% cap · market cap 15.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
8,980
Businesses Nearby
Explore this area
Business Placement
Demographics for 11211, NY
68,540
Population
29,068
Households
2.4
Avg Household Size
31
Median Age
55%
College-Educated
86%
High-School Grad
1.5 sq mi
ZIP Area
45,693
Density / Sq Mi
$105,183
Median Household Income
$67,533
Median Earnings
$2,357
Median Rent
$1,118,600
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?
Duplex - Mixed-use structure with retail on the first floor and two apartments above, creating flexible income streams.
Where is this duplex located?
The property is located at 321 Grand Street New York City, NY.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Mixed‑use building with retail on the first floor and 2 apartments above; Approximately 3,165 SF total with first‑floor space 20.42 ft x 65 ft and second/third floors 20.42 ft x 45 ft each; On a 20.42 ft x 100 ft lot (20.42 ft frontage)
