Mixed-Use Retail and Apartments
321 Grand Street, New York City, NY 11211
For Sale
Contact for pricing
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 Market147
Property Features for 321 Grand Street
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Investment Type
Net Operating Income
Additional Details
Multifamily Units
Building Details
Year Built
Stories
Units
Tenancy
Listing Agency:
IPRG Investment Property Realty Group
Listed By:
Derek Bestreich · License #10991237362
Source:
Crexi
Added: Jun 16
Changed: Nov 4
Last Checked: Nov 8 at 8:55AM
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
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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
Estimated NOI and Cap Rate
NOI / Yr
$107,013
Cap Rate
3.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,140,260
$2.1M
Cap Rate 7%
$1,528,757
$1.5M
Cap Rate 9%
$1,189,033
$1.2M
Market Conditions
NOI Build-Up for 3,162 SF
Gross rent
$161.3K $51.00/SF
− Vacancy
−$8.4K −$2.65/SF
EGI
$152.9K $48.35/SF
− OpEx
−$45.9K −$14.50/SF
NOI
$107.0K $33.84/SF
Area
New York, NY
Vacancy
5.20%
Lease Rate
$51.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,140,260
Cap Rate 7%
$1,528,757
Cap Rate 9%
$1,189,033
Alternative Uses
Best Use
Multifamily LT 5
$1.53M
$1.34M – $1.78M
NOI $107,013 @ 7.0% cap · market cap 3.06%
Second Best
Apartment 5plus
$1.41M
$1.24M – $1.65M
NOI $98,930 @ 7.0% cap · market cap 2.83%
Theoretical Best
Office A
$2.21M
$1.93M – $2.58M
NOI $154,744 @ 7.0% cap · market cap 4.42%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
21,401
Businesses Nearby
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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
$1,118,600
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Kings County, NY
Properties on Market for Duplexes in Kings County
Vacancy Rate% for Multifamily in Northeast region
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)
