Mixed-Use Property with Medical
For Sale
$1,899,000
348 86th Street, Brooklyn, NY 11209
Renovated building combines a medical office with two three-bedroom apartments and rear parking.
Property Size2,875 SF
Days on Market133
Property Features for 348 86th Street
General Information
Standard status
Active
Size
2,875 SF
Total Parking Spaces
2
Property subtype
Commercial Mixed Use
Zoning
R5B
Units
Unit Mix
2 x 3BR/1.5BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Amenities
stainless steel appliances
laundry
split units
hardwood floors
skylight
balcony
Building Details
Building Size
2,875 SF
Year Built
1925
Buildings
1
Stories
2
Listing Agency:
Re/Max Real Estate Professiona
(718) 532-2000
Listed By:
Billy Apter · License #BEA5721
(718) 532-2000
Source:
Michaelfraulo
Added: Apr 20
Changed: Aug 29
Last Checked: Aug 25 at 9:24AM
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 Re/Max Real Estate Professiona
Investment Insights
Based on property information with market context.
This 2,875-square-foot mixed-use property includes a medical office on the ground floor and two residential apartments above. The office has separate front and rear exits, a new heating and cooling system using wall split-units, and rear parking for two cars. Each apartment offers three bedrooms and 1.5 baths. The first-floor unit includes stainless steel appliances, laundry, and split-unit heating and cooling. The second-floor residence features an open living and kitchen area, stainless steel appliances, hardwood floors, laundry, a skylight, and a balcony.
Separate utilities serve the units, with individual gas boilers providing separate heating. The property is located at 348 86th Street in Brooklyn, NY 11209, placing office and residential uses within the same building.
Separate utilities serve the units, with individual gas boilers providing separate heating. The property is located at 348 86th Street in Brooklyn, NY 11209, placing office and residential uses within the same building.
Key Highlights
- 2,875‑square‑foot mixed‑use property at 348 86th Street, Brooklyn, NY 11209
- Ground‑floor medical office with front and rear exits
- Two three‑bedroom apartments, each with 1.5 baths
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
$104,363
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
5.50%
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%
$2,087,260
$2.1M
Cap Rate 7%
$1,490,900
$1.5M
Cap Rate 9%
$1,159,589
$1.2M
Market Conditions
NOI Build-Up for 2,875 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
$189.8K $66.00/SF
− Vacancy
−$22.8K −$7.92/SF
EGI
$167.0K $58.08/SF
− OpEx
−$62.6K −$21.78/SF
NOI
$104.4K $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%
$2,087,260
Cap Rate 7%
$1,490,900
Cap Rate 9%
$1,159,589
Alternative Uses
Best Use
Mixed Use
$1.49M
$1.30M – $1.74M
NOI $104,363 @ 7.0% cap · market cap 5.50%
Second Best
Multifamily LT 5
$1.44M
$1.26M – $1.68M
NOI $100,687 @ 7.0% cap · market cap 5.30%
Theoretical Best
Specialty Retail
$2.38M
$2.08M – $2.78M
NOI $166,635 @ 7.0% cap · market cap 8.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
4,685
Businesses Nearby
Explore this area
Business Placement
Demographics for 11209, NY
73,239
Population
33,286
Households
2.2
Avg Household Size
40
Median Age
53%
College-Educated
90%
High-School Grad
2.1 sq mi
ZIP Area
34,876
Density / Sq Mi
$92,656
Median Household Income
$62,455
Median Earnings
$1,857
Median Rent
$905,700
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 - Renovated building combines a medical office with two three-bedroom apartments and rear parking.
Where is this mixed-use property located?
The property is located at 348 86th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,899,000.
What are key features of this property?
This property features: 2,875‑square‑foot mixed‑use property at 348 86th Street, Brooklyn, NY 11209; Ground‑floor medical office with front and rear exits; Two three‑bedroom apartments, each with 1.5 baths
