Mixed-Use Building with Ground
For Sale
$2,900,000
362 ATLANTIC Avenue, Brooklyn, NY 11217
Three-story mixed-use building with four floor-through apartments over two ground-floor retail spaces on a 25' x 80' lot.
Property Size3,020 SF
Lot Size0.05 Acres
Price / SF$960.26
Days on Market131
Property Features for 362 ATLANTIC Avenue
General Information
Standard status
Active
Size
3,020 SF
Lot size
0.05 Acres
Property subtype
Mixed Use
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$30,516
Building Details
Building Size
3,020 SF
Year Built
1900
Stories
3
Tenancy
Multi
Listing Agency:
Douglas Elliman Real Estate
Listed By:
Douglas M Bowen · License #10301217443
(646) 247-0822
Source:
Carlinwright
Added: Jun 18
Changed: Oct 25
Last Checked: Oct 25 at 12:27AM
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 Douglas Elliman Real Estate
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Investment Insights
Based on property information with market context.
362 Atlantic Avenue is a three-story mixed-use building with two ground-floor retail spaces and four floor-through residential apartments. The property totals approximately 3,020 square feet and sits on a 25' x 80' lot. The asset also includes roughly 6,000 square feet of buildable area, providing options for expansion or redevelopment (subject to approvals).
Positioned along Atlantic Avenue in Boerum Hill, the building benefits from a surrounding mix of established retail, dining, and neighborhood amenities. The offering also notes immediate access to Downtown Brooklyn, Brooklyn Heights, Cobble Hill, and multiple transportation lines.
The current rent roll totals approximately $182,220 per year, with proposed upside to $258,000 per year as described in the information provided. Please inquire for additional details and setup.
Positioned along Atlantic Avenue in Boerum Hill, the building benefits from a surrounding mix of established retail, dining, and neighborhood amenities. The offering also notes immediate access to Downtown Brooklyn, Brooklyn Heights, Cobble Hill, and multiple transportation lines.
The current rent roll totals approximately $182,220 per year, with proposed upside to $258,000 per year as described in the information provided. Please inquire for additional details and setup.
Key Highlights
- Three‑story mixed‑use building with four floor‑through residential apartments over two ground‑floor retail spaces
- Spans approx. 3,020 SF across a 25' x 80' lot
- Mixed‑use rent roll approx. $182,220/year, with proposed upside to approx. $258,000/year
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$144,823
Cap Rate
4.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,896,460
$2.9M
Cap Rate 7%
$2,068,900
$2.1M
Cap Rate 9%
$1,609,144
$1.6M
Market Conditions
NOI Build-Up for 3,020 SF
Gross rent
$234.8K $77.76/SF
− Vacancy
−$27.9K −$9.25/SF
EGI
$206.9K $68.51/SF
− OpEx
−$62.1K −$20.55/SF
NOI
$144.8K $47.95/SF
Area
Brooklyn, NY
Vacancy
11.90%
Lease Rate
$77.76 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,896,460
Cap Rate 7%
$2,068,900
Cap Rate 9%
$1,609,144
Alternative Uses
Best Use
Retail
$2.07M
$1.81M – $2.41M
NOI $144,823 @ 7.0% cap · market cap 4.99%
Second Best
Mixed Use
$1.57M
$1.37M – $1.83M
NOI $109,626 @ 7.0% cap · market cap 3.78%
Theoretical Best
Specialty Retail
$2.50M
$2.19M – $2.92M
NOI $175,039 @ 7.0% cap · market cap 6.04%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
13,903
Businesses Nearby
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Business Placement
Demographics for 11217, NY
42,417
Population
21,590
Households
2
Avg Household Size
36
Median Age
73%
College-Educated
93%
High-School Grad
0.7 sq mi
ZIP Area
60,596
Density / Sq Mi
$158,314
Median Household Income
$95,067
Median Earnings
$2,800
Median Rent
$1,614,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-story mixed-use building with four floor-through apartments over two ground-floor retail spaces on a 25' x 80' lot.
Where is this mixed-use property located?
The property is located at 362 ATLANTIC Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: Three‑story mixed‑use building with four floor‑through residential apartments over two ground‑floor retail spaces; Spans approx. 3,020 SF across a 25' x 80' lot; Mixed‑use rent roll approx. $182,220/year, with proposed upside to approx. $258,000/year
