Fort Greene Mixed-Use
For Sale
Contact for pricing
374 Myrtle Avenue, Brooklyn, NY 11205
Mixed-use property in Fort Greene with high foot traffic.
Property Size3,856 SF
Price / SF$829.88
Days on Market219
Property Features for 374 Myrtle Avenue
General Information
Standard status
Active
Size
3,856 SF
Property subtype
Mixed Use
Zoning
R7A / C2-4
Investment Type
Value Add
Net Operating Income
$135,051
Building Details
Year Built
1969
Buildings
1
Stories
4
Units
4
Tenancy
Multi
Listing Agency:
Ariel Property Advisors
Listed By:
Stephen Vorvolakos · License #NY 10401268778
(212) 544-9500
Source:
Crexi
Added: Mar 4
Changed: Sep 27
Last Checked: Oct 7 at 10:01AM
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 Ariel Property Advisors
Investment Insights
Based on property information with market context.
Located in the heart of Fort Greene, on the bustling Myrtle Avenue corridor, the property at 374 Myrtle Avenue offers high-visibility access to transit. The location benefits from exceptional foot traffic and proximity to the G, B, D, N, Q, R, 2, 3, 4 subway lines, providing connections throughout all five boroughs. The property is a mixed-use property with a total size of 3,856 square feet.
Key Highlights
- Prime location in the heart of Fort Greene
- High‑visibility on the bustling Myrtle Avenue corridor
- Exceptional foot traffic
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$139,973
Cap Rate
4.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,799,460
$2.8M
Cap Rate 7%
$1,999,614
$2.0M
Cap Rate 9%
$1,555,256
$1.6M
Market Conditions
NOI Build-Up for 3,856 SF
Gross rent
$254.5K $66.00/SF
− Vacancy
−$30.5K −$7.92/SF
EGI
$224.0K $58.08/SF
− OpEx
−$84.0K −$21.78/SF
NOI
$140.0K $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%
$2,799,460
Cap Rate 7%
$1,999,614
Cap Rate 9%
$1,555,256
Alternative Uses
Best Use
Mixed Use
$2.00M
$1.75M – $2.33M
NOI $139,973 @ 7.0% cap · market cap 4.37%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.19M
$2.79M – $3.72M
NOI $223,494 @ 7.0% cap · market cap 6.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
6,855
Businesses Nearby
Explore this area
Business Placement
Demographics for 11205, NY
50,474
Population
19,200
Households
2.6
Avg Household Size
30
Median Age
52%
College-Educated
86%
High-School Grad
1.2 sq mi
ZIP Area
42,062
Density / Sq Mi
$86,753
Median Household Income
$59,901
Median Earnings
$2,307
Median Rent
$892,800
Median Home Value
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property in Fort Greene with high foot traffic.
Where is this mixed-use property located?
The property is located at 374 Myrtle Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: Prime location in the heart of Fort Greene; High‑visibility on the bustling Myrtle Avenue corridor; Exceptional foot traffic
