Three-Story Mixed-Use
For Sale
$3,000,000
384 Van Brunt Street, Brooklyn, NY 11231
A ground-floor storefront, two upper-level apartments, and a full basement create a varied commercial and residential configuration.
Property Size4,000 SF
Price / SF$750
Days on Market23
Property Features for 384 Van Brunt Street
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Mixed Use
Taxes and HOA fees
Annual Taxes
$5,076
Building Details
Building Size
4,000 SF
Year Built
1899
Listing Agency:
Compass
Listed By:
Chris R Sheller
(917) 576-2985
Source:
Howardhannanyc
Added: Sep 28
Changed: Oct 20
Last Checked: Oct 19 at 12:41PM
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 Compass
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Investment Insights
Based on property information with market context.
This 4,000-square-foot mixed-use building is a 20-foot-wide, three-story brick townhouse constructed in 1899. The ground floor has an open storefront, a folding aluminum-and-glass door system, and access to a rear Ipe deck. A full basement includes a backyard lightwell. Two apartments occupy the second and third floors; both have updated kitchens and baths, while the upper unit also features three skylights and 10-foot ceilings. The second-floor apartment measures approximately 1,000 square feet and can accommodate a two-bedroom layout.
Building work includes a replacement roof, windows and skylights, upgraded boilers and hot-water systems, new electrical, structural improvements, masonry restoration, and a custom cornice. The property stands at Van Brunt and Dikeman Streets in Red Hook, near neighborhood restaurants, galleries, the waterfront, and ferry service. Lower Manhattan is accessible by ferry. Potential conversion to a single-family residence is subject to applicable zoning and approvals.
Building work includes a replacement roof, windows and skylights, upgraded boilers and hot-water systems, new electrical, structural improvements, masonry restoration, and a custom cornice. The property stands at Van Brunt and Dikeman Streets in Red Hook, near neighborhood restaurants, galleries, the waterfront, and ferry service. Lower Manhattan is accessible by ferry. Potential conversion to a single-family residence is subject to applicable zoning and approvals.
Key Highlights
- 4,000‑square‑foot, three‑story mixed‑use building
- 20‑foot‑wide brick townhouse built in 1899
- Ground‑floor commercial storefront with rear Ipe deck
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$191,818
Cap Rate
6.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,836,360
$3.8M
Cap Rate 7%
$2,740,257
$2.7M
Cap Rate 9%
$2,131,311
$2.1M
Market Conditions
NOI Build-Up for 4,000 SF
Gross rent
$311.0K $77.76/SF
− Vacancy
−$37.0K −$9.25/SF
EGI
$274.0K $68.51/SF
− OpEx
−$82.2K −$20.55/SF
NOI
$191.8K $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%
$3,836,360
Cap Rate 7%
$2,740,257
Cap Rate 9%
$2,131,311
Alternative Uses
Best Use
Retail
$2.74M
$2.40M – $3.20M
NOI $191,818 @ 7.0% cap · market cap 6.39%
Second Best
Mixed Use
$2.07M
$1.82M – $2.42M
NOI $145,200 @ 7.0% cap · market cap 4.84%
Theoretical Best
Specialty Retail
$3.31M
$2.90M – $3.86M
NOI $231,840 @ 7.0% cap · market cap 7.73%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,372
Businesses Nearby
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Business Placement
Demographics for 11231, NY
37,240
Population
18,265
Households
2
Avg Household Size
37
Median Age
69%
College-Educated
90%
High-School Grad
1.4 sq mi
ZIP Area
26,600
Density / Sq Mi
$138,485
Median Household Income
$85,791
Median Earnings
$2,474
Median Rent
$1,678,900
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 - A ground-floor storefront, two upper-level apartments, and a full basement create a varied commercial and residential configuration.
Where is this mixed-use property located?
The property is located at 384 Van Brunt Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: 4,000‑square‑foot, three‑story mixed‑use building; 20‑foot‑wide brick townhouse built in 1899; Ground‑floor commercial storefront with rear Ipe deck
