Mixed-Use Restaurant and Residential
For Sale
$1,150,000
334 New Lots Avenue, Brooklyn, NY 11207
Residential Income, Brooklyn, NY
Property Size3,300 SF
Lot Size0.04 Acres
Price / SF$348.48
Days on Market67
Property Features for 334 New Lots Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 6, Bedroom 3, Bedroom 1, Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 5, Bedroom 4
Subdivision
East New York
Standard status
Active
Size
3,300 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
2445
Utilities
Heating system
Baseboard, Natural Gas
Water source
Public
Building Details
Year built
1930
Floors in Building
3
Flooring type
Hardwood
Building materials
Brick
Roof type
Tar/Gravel
Architectural style
Other
Listing Agency:
TWELVE STONES REALTY
(973) 873-8444
Listed By:
Avraham Birnbaum
(347) 876-9337
Added: Jul 13
Changed: Sep 17
Last Checked: Sep 17 at 1:06PM
MLS# 11908946
Copyright © 2026 My State 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 mixed-use property combines a ground-floor restaurant or commercial space with two three-bedroom, one-bath apartments above. A full basement adds supporting space, while the building’s brick construction, hardwood flooring, natural-gas and baseboard heating, tar-and-gravel roof, and public water service provide a defined physical profile. Built in 1930, the property is situated on a 20-by-81.33-foot lot and is governed by R6 and C1-3 zoning.
One residential apartment is scheduled for delivery vacant, creating an owner-user or leasing option. The property is located on New Lots Avenue in Brooklyn, with access to public transportation, major roadways, neighborhood shopping, and local amenities. The storefront sits within a retail corridor, while the residential component supports a diversified mixed-use layout. The projected cap rate is 10.68%, and projected NOI is $122,865.
One residential apartment is scheduled for delivery vacant, creating an owner-user or leasing option. The property is located on New Lots Avenue in Brooklyn, with access to public transportation, major roadways, neighborhood shopping, and local amenities. The storefront sits within a retail corridor, while the residential component supports a diversified mixed-use layout. The projected cap rate is 10.68%, and projected NOI is $122,865.
Key Highlights
- Ground‑floor restaurant or commercial space with two residential apartments
- Two 3‑bedroom, 1‑bath apartments above the commercial space
- One residential unit scheduled to be delivered vacant
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
$100,746
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
8.76%
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%
$2,014,920
$2.0M
Cap Rate 7%
$1,439,229
$1.4M
Cap Rate 9%
$1,119,400
$1.1M
Market Conditions
NOI Build-Up for 3,300 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
$186.9K $56.64/SF
− Vacancy
−$3.7K −$1.13/SF
EGI
$183.2K $55.51/SF
− OpEx
−$82.4K −$24.98/SF
NOI
$100.7K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /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%
$2,014,920
Cap Rate 7%
$1,439,229
Cap Rate 9%
$1,119,400
Alternative Uses
Best Use
Specialty Retail
$2.73M
$2.39M – $3.19M
NOI $191,268 @ 7.0% cap · market cap 16.63%
Second Best
Mixed Use
$1.71M
$1.50M – $2.00M
NOI $119,790 @ 7.0% cap · market cap 10.42%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,336
Businesses Nearby
Explore this area
Business Placement
Demographics for 11207, NY
100,330
Population
38,030
Households
2.6
Avg Household Size
35
Median Age
19%
College-Educated
81%
High-School Grad
2.7 sq mi
ZIP Area
37,159
Density / Sq Mi
$55,419
Median Household Income
$41,008
Median Earnings
$1,443
Median Rent
$657,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Restaurant space and two three-bedroom apartments create a combined commercial and residential configuration.
Where is this mixed-use property located?
The property is located at 334 New Lots Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Ground‑floor restaurant or commercial space with two residential apartments; Two 3‑bedroom, 1‑bath apartments above the commercial space; One residential unit scheduled to be delivered vacant
