Building Details

Building Size 18,000 SF

Year Built 1927

Buildings 1

Construction brick

Tenancy Multi

Listing Agency: EXIT Realty Central

Listed By: Arthur F. Martinez SFR · License #1041648 Show Phone

Source: Yourhomesoldguaranteedrealty-therealmccoyteam

Added: Aug 21 Changed: Oct 3 Last Checked: Oct 16 at 5:42AM

Report an Issue

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 EXIT Realty Central

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

Located at 380 Crescent Street in Brooklyn, NY 11208, this brick apartment property was constructed in 1927 and contains 25 residential units. The unit mix includes 15 two-bedroom apartments and 10 one-bedroom apartments, complemented by two retail spaces. A full basement provides additional storage rooms, while the absence of an elevator supports a simpler building configuration. Tenants pay their own electric and cooking gas utilities. The property is reported at a 10.2% net cap rate and may suit buyers seeking an apartment building with both residential and retail components.

Key Highlights

• 25‑unit apartment building with 15 two‑bedroom and 10 one‑bedroom apartments
• Two retail spaces included in the property
• Full basement with additional storage rooms

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$411,428

Cap Rate

6.33%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$8,228,560 $8.2M

Cap Rate 7%

$5,877,543 $5.9M

Cap Rate 9%

$4,571,422 $4.6M

Is this asking price fair?

Market Conditions

NOI Build-Up for 18,000 SF

Gross rent

$777.6K $43.20/SF

− Vacancy

−$29.5K −$1.64/SF

EGI

$748.1K $41.56/SF

− OpEx

−$336.6K −$18.70/SF

NOI

$411.4K $22.86/SF

Area

ZIP 11208

Vacancy

3.80%

Lease Rate

$43.20 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$8,228,560

Cap Rate 7%

$5,877,543

Cap Rate 9%

$4,571,422

Alternative Uses

Best Use

Apartment 5plus

$5.88M

$5.14M – $6.86M (±1% cap)

NOI $411,428 @ 7.0% cap · market cap 6.33%

Second Best

Retail

$4.73M

$4.14M – $5.52M (±1% cap)

NOI $331,309 @ 7.0% cap · market cap 5.10%

Theoretical Best

Office A

$11.01M

$9.64M – $12.85M (±1% cap)

NOI $770,964 @ 7.0% cap · market cap 11.86%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Retail space

Suggested Use

Top Pick Law Firm Real Estate Agency Dental Office Parking Lot & Garage Gym & Fitness Center Skin Care Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

25

Residential units

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

3,094

Businesses Nearby

Explore this area Business Placement

Demographics for 11208, NY

101,958

Population

37,261

Households

2.7

Avg Household Size

35

Median Age

16%

College-Educated

82%

High-School Grad

2.7 sq mi

ZIP Area

37,762

Density / Sq Mi

$59,988

Median Household Income

$40,156

Median Earnings

$1,563

Median Rent

$638,200

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Similar For Sale Nearby

See more

Seven-Story Elevator Apartment Building

1613 Mermaid Avenue, Brooklyn, NY 11224

$6,500,000

15,986 SF

View details

Homecrest Apartment Building For Sale

2069 East 12th Street, Brooklyn, NY 11229

$3,440,000

18,720 SF

View details

Apartment Building with Roof Access

2823 Snyder Ave, Brooklyn, NY 11226

$7,100,000

13,805 SF

View details

24-Unit Pre-War Apartment Building

1938 67th Street, Brooklyn, NY 11204

$4,950,000

21,360 SF

View details

Mixed-Use Retail and Community Building

340 Junius Street, Brooklyn, NY 11212

$7,200,000

23,400 SF

View details

Park Slope Multifamily Limestone Building

176 Prospect Park West, Brooklyn, NY 11215

$8,000,000

14,200 SF

View details

New Apartment Building

2920 Brighton 4th Street, Brooklyn, NY 11235

$6,500,000

View details

Mixed-Use Property with Elevator Access

5203-5207 Church Avenue, Brooklyn, NY 11203

$4,450,000

14,700 SF

View details

Two-Building Apartment Package

643 Sheffield Avenue, Brooklyn, NY 11207

$7,200,000

View details

Canarsie 24-Unit Investment Property

8820 Avenue J, Brooklyn, NY 11236

$10,500,000

0.37 Acres

View details

Apartment Building with R6 Zoning

554 Eastern Pkwy, Brooklyn, NY 11225

$5,800,000

View details

For-Sale Apartment Building

325 1st Street, Brooklyn, NY 11215

$9,000,000

View details

Frequently Asked Questions

What type of property is this?

Apartment building - Brick residential property with two ground-floor retail spaces and basement storage in Brooklyn’s City Line area.

Where is this apartment building located?

The property is located at 380 Crescent Street Brooklyn, NY.

What is the asking price?

The asking price for this property is $6,500,000.

What are key features of this property?

This property features: 25‑unit apartment building with 15 two‑bedroom and 10 one‑bedroom apartments; Two retail spaces included in the property; Full basement with additional storage rooms