Eight-Building Mixed-Use
For Sale
Contact for pricing
343 Nostrand Ave, Brooklyn, NY 11216
R6A and C2-4 zoning supports a combined residential and retail configuration across two Brooklyn avenues.
Property Size53,599 SF
Price / SF$466.43
Days on Market212
Property Features for 343 Nostrand Ave
General Information
Standard status
Active
Size
53,599 SF
Class
B
Property subtype
Multifamily, Retail
Zoning
R6A, C2-4
Investment Type
Stabilized
Net Operating Income
$1,739,171
Additional Details
Multifamily Units
54
Building Details
Year Built
2014
Buildings
8
Stories
4
Units
59
Listing Agency:
Capline Consolidated
Listed By:
Robert Shiryak · License #NY10491213394
(347) 908-7623
Source:
Crexi
Added: Feb 3
Changed: Sep 2
Last Checked: Sep 3 at 3:36AM
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 Capline Consolidated
Investment Insights
Based on property information with market context.
This mixed-use portfolio comprises eight buildings totaling 53,599 square feet, with five properties at 343–349 Nostrand Avenue and three at 415–419 Gates Avenue in Brooklyn. The assemblage includes 54 residential units and five retail stores, combining apartment and commercial components within the same offering. The buildings were constructed in 2014, and the portfolio’s configuration places retail uses along the avenue frontage while incorporating residential space across the properties.
The assets are located at 343 Nostrand Ave, Brooklyn, NY 11216, and 415–419 Gates Avenue, Brooklyn, NY 11216. Zoning is identified as R6A and C2-4, providing the governing land-use framework for the portfolio. Together, the two contiguous groupings create a single offering spanning mixed-use properties on Nostrand Avenue and Gates Avenue.
The assets are located at 343 Nostrand Ave, Brooklyn, NY 11216, and 415–419 Gates Avenue, Brooklyn, NY 11216. Zoning is identified as R6A and C2-4, providing the governing land-use framework for the portfolio. Together, the two contiguous groupings create a single offering spanning mixed-use properties on Nostrand Avenue and Gates Avenue.
Key Highlights
- Eight‑building portfolio totaling 53,599 square feet
- 54 residential units and five retail stores
- Five buildings at 343–349 Nostrand Avenue
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
$1,945,644
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
7.78%
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%
$38,912,880
$38.9M
Cap Rate 7%
$27,794,914
$27.8M
Cap Rate 9%
$21,618,267
$21.6M
Market Conditions
NOI Build-Up for 53,599 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
$3.54M $66.00/SF
− Vacancy
−$424.5K −$7.92/SF
EGI
$3.11M $58.08/SF
− OpEx
−$1.17M −$21.78/SF
NOI
$1.95M $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%
$38,912,880
Cap Rate 7%
$27,794,914
Cap Rate 9%
$21,618,267
Alternative Uses
Best Use
Retail
$36.72M
$32.13M – $42.84M
NOI $2,570,318 @ 7.0% cap · market cap 10.28%
Second Best
Mixed Use
$27.79M
$24.32M – $32.43M
NOI $1,945,644 @ 7.0% cap · market cap 7.78%
Theoretical Best
Specialty Retail
$44.38M
$38.83M – $51.78M
NOI $3,106,598 @ 7.0% cap · market cap 12.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
54
Residential units
Location Intelligence
Trade Area within ½ mile
5,908
Businesses Nearby
Explore this area
Business Placement
Demographics for 11216, NY
61,251
Population
28,825
Households
2.1
Avg Household Size
34
Median Age
56%
College-Educated
91%
High-School Grad
1.0 sq mi
ZIP Area
61,251
Density / Sq Mi
$95,000
Median Household Income
$61,389
Median Earnings
$2,180
Median Rent
$1,398,400
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 - R6A and C2-4 zoning supports a combined residential and retail configuration across two Brooklyn avenues.
Where is this mixed-use property located?
The property is located at 343 Nostrand Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $25,000,000.
What are key features of this property?
This property features: Eight‑building portfolio totaling 53,599 square feet; 54 residential units and five retail stores; Five buildings at 343–349 Nostrand Avenue
