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$933.61
Days on Market151
Property Features for 374 Myrtle Avenue
General Information
Standard status
Active
Size
3,856 SF
Property subtype
Retail, Multifamily, Mixed Use
Building Details
Year Built
1969
Listing Agency:
Ariel Property Advisors
Listed By:
Sean R. Kelly, Esq. · License #NY 10301203478
Source:
Crexi
Added: Mar 4
Changed: Jul 6
Last Checked: Jul 31 at 2:57PM
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 For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $299.8k | $77.76 |
| − Vacancy | −$35.7k | −$9.25 |
| EGI | $264.2k | $68.51 |
| − OpEx | −$79.2k | −$20.55 |
| NOI | $184.9k | $47.95 |
3,856 SF · lease $77.76/SF/yr · vacancy 11.90% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.64M
$2.31M – $3.08M
NOI $184,913 @ 7.0% cap · market cap 5.14%
Second Best
Mixed Use
$2.00M
$1.75M – $2.33M
NOI $139,973 @ 7.0% cap · market cap 3.89%
Theoretical Best
Specialty Retail
$3.19M
$2.79M – $3.72M
NOI $223,494 @ 7.0% cap · market cap 6.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,855
Businesses Nearby
71k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 48%
Dining 25%
Groceries 10%
Home Improvements & Furnishings 8%
Citgo
Shops & Services
12,010 visits/mo
0.5 miles
Chase Bank
Shops & Services
11,069 visits/mo
0.0 miles
Bravo Supermarkets
Groceries
7,424 visits/mo
0.2 miles
Bank of America
Shops & Services
7,074 visits/mo
0.1 miles
Dunkin' Donuts
Dining
6,574 visits/mo
0.3 miles
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
Market
Properties on Market for Mixed-use properties in Brooklyn
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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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 $3,600,000.
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
