Brooklyn Mixed-Use Investment
For Sale
$1,495,000
Pending
34 Rockaway Avenue MIXED, Brooklyn, NY 11233
Rare mixed-use property with residential and commercial units in Brooklyn.
Property Size2,700 SF
Days on Market147
Property Features for 34 Rockaway Avenue MIXED
General Information
Standard status
Pending
Size
2,700 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$5,676
Amenities
ColdStorage
Dryer, Washer
City
Building Details
Building Size
2,700 SF
Year Built
1899
Stories
3
Listing Agency:
Compass
(516) 232-4114
Listed By:
Jack LeGuelaff · License #10401326617
(516) 232-4114
Source:
Evrealestate
Added: Mar 31
Changed: Aug 23
Last Checked: Aug 24 at 3:35AM
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 Compass
Investment Insights
Based on property information with market context.
Located in Brooklyn, 34 Rockaway is a mixed-use property featuring two three-bedroom residential units and a commercial tenant. The property operates at over an 8% cap rate. The annual taxes are $5,671. The location has a walk score of 90, making it very walkable, a bike score of 64, making it bikeable, and a transit score of 100, indicating it is a rider's paradise.
Key Highlights
- 100 Transit Score: Rider's Paradise
- High Cap Rate: Operating at over 8%
- Mixed‑Use Property: Two residential units plus commercial tenant
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
$98,010
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
6.56%
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%
$1,960,200
$2.0M
Cap Rate 7%
$1,400,143
$1.4M
Cap Rate 9%
$1,089,000
$1.1M
Market Conditions
NOI Build-Up for 2,700 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
$178.2K $66.00/SF
− Vacancy
−$21.4K −$7.92/SF
EGI
$156.8K $58.08/SF
− OpEx
−$58.8K −$21.78/SF
NOI
$98.0K $36.30/SF
Area
Brooklyn, NY
Vacancy
12.00%
Lease Rate
$66.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,960,200
Cap Rate 7%
$1,400,143
Cap Rate 9%
$1,089,000
Alternative Uses
Best Use
Mixed Use
$1.40M
$1.23M – $1.63M
NOI $98,010 @ 7.0% cap · market cap 6.56%
Second Best
Multifamily LT 5
$1.35M
$1.18M – $1.58M
NOI $94,559 @ 7.0% cap · market cap 6.33%
Theoretical Best
Specialty Retail
$2.24M
$1.96M – $2.61M
NOI $156,492 @ 7.0% cap · market cap 10.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,991
Businesses Nearby
Explore this area
Business Placement
Demographics for 11233, NY
75,399
Population
34,412
Households
2.2
Avg Household Size
35
Median Age
33%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
57,999
Density / Sq Mi
$62,034
Median Household Income
$47,149
Median Earnings
$1,613
Median Rent
$1,013,000
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 - Rare mixed-use property with residential and commercial units in Brooklyn.
Where is this mixed-use property located?
The property is located at 34 Rockaway Avenue MIXED Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: 100 Transit Score: Rider's Paradise; High Cap Rate: Operating at over 8%; Mixed‑Use Property: Two residential units plus commercial tenant
