Building Details

Year Built 2014

Buildings 8

Stories 4

Units 59

Listing Agency: Capline Consolidated

Listed By: Robert Shiryak · License #NY10491213394 Show Phone

Source: Crexi

Added: Feb 3 Changed: Oct 12 Last Checked: Oct 16 at 8:31AM

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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

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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.

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 / Yr

$1,945,644

Cap Rate

7.78%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$38,912,880 $38.9M

Cap Rate 7%

$27,794,914 $27.8M

Cap Rate 9%

$21,618,267 $21.6M

Is this asking price fair?

Market Conditions

NOI Build-Up for 53,599 SF

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 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 (±1% cap)

NOI $2,570,318 @ 7.0% cap · market cap 10.28%

Second Best

Mixed Use

$27.79M

$24.32M – $32.43M (±1% cap)

NOI $1,945,644 @ 7.0% cap · market cap 7.78%

Theoretical Best

Specialty Retail

$44.38M

$38.83M – $51.78M (±1% cap)

NOI $3,106,598 @ 7.0% cap · market cap 12.43%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

City View Adult ... Adult Day Care

Suggested Use

Top Pick Law Firm Dental Office Parking Lot & Garage Nursing Home Auto Parts Store Real Estate Agency

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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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