Mixed-Use Investment Opportunity
For Sale
$1,080,000
Pending
3242 Fulton Street, Brooklyn, NY 11208
Fully leased, renovated mixed-use building with commercial and residential units.
Property Size1,900 SF
Days on Market152
Property Features for 3242 Fulton Street
General Information
Standard status
Pending
Size
1,900 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$5,206
Amenities
Wall/Window Unit(s)
Baseboard, Other
Full
Other
On Street
Building Details
Building Size
1,900 SF
Year Built
1910
Listing Agency:
EXP Realty
(732) 687-6656
Listed By:
Yanli Zhang · License #10401364927
(732) 687-6656
Source:
Evrealestate
Added: Mar 27
Changed: Aug 23
Last Checked: Aug 24 at 4:22AM
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 EXP Realty
Investment Insights
Based on property information with market context.
This well-maintained mixed-use building features one commercial unit and two residential units. All units are fully leased with stable, long-term tenants. The property has been fully renovated, presenting a turnkey investment with consistent cash flow. It is located in a high-traffic area, providing strong visibility for the commercial space and steady demand for the residential units. The property is located in Brooklyn, NY. The bike score is 64, making it bikeable. The walk score is 59, indicating it is somewhat walkable. The transit score is 76, indicating excellent transit.
Key Highlights
- Fully leased with stable, long‑term tenants, ensuring immediate and consistent cash flow.
- Approximately 7% cap rate, representing a strong return on investment.
- Turnkey investment opportunity due to recent full renovation, minimizing immediate maintenance needs.
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
$43,429
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
4.02%
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%
$868,580
$868.6K
Cap Rate 7%
$620,414
$620.4K
Cap Rate 9%
$482,544
$482.5K
Market Conditions
NOI Build-Up for 1,900 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
$82.1K $43.20/SF
− Vacancy
−$3.1K −$1.64/SF
EGI
$79.0K $41.56/SF
− OpEx
−$35.5K −$18.70/SF
NOI
$43.4K $22.86/SF
Area
ZIP 11208
Vacancy
3.80%
Lease Rate
$43.20 /SF/Yr
Expense Ratio
45.00%
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%
$868,580
Cap Rate 7%
$620,414
Cap Rate 9%
$482,544
Alternative Uses
Best Use
Apartment 5plus
$620.4K
$542.9K – $723.8K
NOI $43,429 @ 7.0% cap · market cap 4.02%
Second Best
Mixed Use
$563.1K
$492.7K – $656.9K
NOI $39,416 @ 7.0% cap · market cap 3.65%
Theoretical Best
Office A
$1.16M
$1.02M – $1.36M
NOI $81,380 @ 7.0% cap · market cap 7.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,645
Businesses Nearby
Explore this area
Business Placement
Demographics for 11208, NY
101,958
Population
37,261
Households
2.7
Avg Household Size
35
Median Age
16%
College-Educated
82%
High-School Grad
2.7 sq mi
ZIP Area
37,762
Density / Sq Mi
$59,988
Median Household Income
$40,156
Median Earnings
$1,563
Median Rent
$638,200
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?
Mixed-use property - Fully leased, renovated mixed-use building with commercial and residential units.
Where is this mixed-use property located?
The property is located at 3242 Fulton Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,080,000.
What are key features of this property?
This property features: Fully leased with stable, long‑term tenants, ensuring immediate and consistent cash flow.; Approximately 7% cap rate, representing a strong return on investment.; Turnkey investment opportunity due to recent full renovation, minimizing immediate maintenance needs.
