Gut-Renovated Co-Living
For Sale
Contact for pricing
355 Tompkins Ave, Brooklyn, NY 11216
Fully renovated mixed-use building suitable for co-living in Brooklyn.
Property Size7,020 SF
Price / SF$498.58
Days on Market190
Property Features for 355 Tompkins Ave
General Information
Standard status
Active
Size
7,020 SF
Property subtype
Mixed Use
Listing Agency:
Exodus Capital CRE
(717) 491-4183
Listed By:
Haley Hasho · License #2141166
Source:
Crexi
Added: Feb 13
Changed: Aug 8
Last Checked: Aug 8 at 2:29PM
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 Exodus Capital CRE
Investment Insights
Based on property information with market context.
This is a mixed-use property featuring a fully gut-renovated co-living building. The property has a size of 7020 square feet.
Key Highlights
- Fully gut‑renovated
- Co living building
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
$254,826
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
7.28%
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%
$5,096,520
$5.1M
Cap Rate 7%
$3,640,371
$3.6M
Cap Rate 9%
$2,831,400
$2.8M
Market Conditions
NOI Build-Up for 7,020 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
$463.3K $66.00/SF
− Vacancy
−$55.6K −$7.92/SF
EGI
$407.7K $58.08/SF
− OpEx
−$152.9K −$21.78/SF
NOI
$254.8K $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%
$5,096,520
Cap Rate 7%
$3,640,371
Cap Rate 9%
$2,831,400
Alternative Uses
Best Use
Mixed Use
$3.64M
$3.19M – $4.25M
NOI $254,826 @ 7.0% cap · market cap 7.28%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.81M
$5.09M – $6.78M
NOI $406,879 @ 7.0% cap · market cap 11.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,424
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully renovated mixed-use building suitable for co-living in Brooklyn.
Where is this mixed-use property located?
The property is located at 355 Tompkins Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Fully gut‑renovated; Co living building
