Mixed-Use Building with
New
For Sale
$1,500,000
3255 Fulton Street, Brooklyn, NY 11208
Commercial Sale, Brooklyn, NY
Property Size7,250 SF
Lot Size0.06 Acres
Price / SF$206.90
Days on Market3
Property Features for 3255 Fulton Street
General Information
Property type
Commercial Sale
Property subtype
Other
Rooms
Basement
Basement
Full
Elementary school district
Brooklyn 19
Middle school district
Brooklyn 19
High school district
Brooklyn 19
Standard status
Active
APN
04128-0070
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
8873
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Multi Units
Water source
Public
Amenities
High Ceilings
Finished Basement
3 Phase Power
All New LED Lighting
A/C
Building Details
Year built
1920
Floors in Building
3
Number of units
3
Building materials
Brick, Frame
Listing Agency:
All Island Estates Realty Corp
(516) 783-5600
Listed By:
Richard Matt Shane · License #1020151
(516) 279-8828
Added: Sep 25
Changed: Sep 26
Last Checked: Sep 27 at 12:06PM
MLS# 1043556
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 7,250-square-foot mixed-use building contains three units: storefront/office space and two apartments, including a four-bedroom, two-bath unit and a three-bedroom, two-bath unit. The commercial space is listed at 2,500 square feet, with an additional 2,500-square-foot lower level. A finished basement, high ceilings, three-phase power, multi-unit air conditioning, and LED lighting are among the building features. The property was built in 1920 and occupies a 0.0601-acre lot. Zoning is R6B/C2-4.
The building is on Fulton Street in Brooklyn’s Cypress Hills area, a few blocks from Rockaway Boulevard and Conduit Boulevard. JFK Airport is approximately 15 minutes away. Nearby businesses include Chase Bank, USPS, Stop & Shop, CVS, and McDonald’s.
The two apartments have different lease statuses: the four-bedroom unit’s lease expires in 2027, while the three-bedroom apartment is available. The storefront/office lease runs through 2031. The stated cap rate is 8.54.
The building is on Fulton Street in Brooklyn’s Cypress Hills area, a few blocks from Rockaway Boulevard and Conduit Boulevard. JFK Airport is approximately 15 minutes away. Nearby businesses include Chase Bank, USPS, Stop & Shop, CVS, and McDonald’s.
The two apartments have different lease statuses: the four-bedroom unit’s lease expires in 2027, while the three-bedroom apartment is available. The storefront/office lease runs through 2031. The stated cap rate is 8.54.
Key Highlights
- 7,250‑square‑foot building on a 0.0601‑acre lot
- Three units: storefront/office space and two apartments
- R6B/C2‑4 zoning
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
$133,444
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
8.90%
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%
$2,668,880
$2.7M
Cap Rate 7%
$1,906,343
$1.9M
Cap Rate 9%
$1,482,711
$1.5M
Market Conditions
NOI Build-Up for 7,250 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
$208.8K $28.80/SF
− Vacancy
−$18.2K −$2.51/SF
EGI
$190.6K $26.29/SF
− OpEx
−$57.2K −$7.89/SF
NOI
$133.4K $18.41/SF
Area
ZIP 11208
Vacancy
8.70%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
30.00%
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%
$2,668,880
Cap Rate 7%
$1,906,343
Cap Rate 9%
$1,482,711
Alternative Uses
Best Use
Mixed Use
$2.15M
$1.88M – $2.51M
NOI $150,401 @ 7.0% cap · market cap 10.03%
Second Best
Retail
$1.91M
$1.67M – $2.22M
NOI $133,444 @ 7.0% cap · market cap 8.90%
Theoretical Best
Office A
$4.44M
$3.88M – $5.18M
NOI $310,527 @ 7.0% cap · market cap 20.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,645
Businesses Nearby
269k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 42%
Shops & Services 38%
Groceries 12%
Electronics 4%
McDonald's
Dining
30,359 visits/mo
0.3 miles
Wendy's
Dining
27,662 visits/mo
0.2 miles
Capital One Bank
Shops & Services
18,839 visits/mo
0.2 miles
Popeyes Louisiana Kitchen
Dining
17,803 visits/mo
0.2 miles
White Castle
Dining
16,588 visits/mo
0.4 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - The three-unit layout combines storefront and office space with two apartments and a finished basement.
Where is this mixed-use property located?
The property is located at 3255 Fulton Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 7,250‑square‑foot building on a 0.0601‑acre lot; Three units: storefront/office space and two apartments; R6B/C2‑4 zoning
