Three-Story Mixed-Use
For Sale
$4,650,000
397 5th Avenue, Brooklyn, NY 11215
Commercial Sale, Brooklyn, NY
Property Size3,828 SF
Price / SF$1,214
Days on Market101
Property Features for 397 5th Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Bedrooms
8
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 4, Bathroom 2, Bedroom 8, Bathroom 1, Bathroom 3, Bedroom 1, Bedroom 6, Bathroom 5, Bedroom 7, Bedroom 3, Bedroom 4, Bedroom 5, Bedroom 2
Subdivision
Park Slope
High school district
000000
Standard status
Active
Size
3,828 SF
Additional Details
Tenant in Place
Yes
Mixed-Use Components
retail, residential
Building Details
Architectural style
Other
Buildings
1
Listing Agency:
Compass
(646) 982-0353
Listed By:
Louis Esposito · License #10301207785
Added: Jul 24
Changed: Nov 1
Last Checked: Nov 1 at 9:06PM
MLS# 11902327
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
The three-story mixed-use building at 397 5th Avenue contains 3,828 square feet of combined residential and retail space. Its residential component includes four two-bedroom apartments, each arranged with front and rear layouts. The property is fully occupied, with the retail portion committed under a lease extending for the next 10 years.
Located on 5th Avenue in Brooklyn’s Park Slope area, the building sits within an established retail corridor. The property combines four residential units with ground-floor commercial space in a single, fully occupied structure.
Located on 5th Avenue in Brooklyn’s Park Slope area, the building sits within an established retail corridor. The property combines four residential units with ground-floor commercial space in a single, fully occupied structure.
Key Highlights
- 3,828‑square‑foot three‑story mixed‑use building
- Four 2‑bedroom apartments with front and back layouts
- Retail space leased for the next 10 years
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$183,570
Cap Rate
3.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,671,400
$3.7M
Cap Rate 7%
$2,622,429
$2.6M
Cap Rate 9%
$2,039,667
$2.0M
Market Conditions
NOI Build-Up for 3,828 SF
Gross rent
$297.7K $77.76/SF
− Vacancy
−$35.4K −$9.25/SF
EGI
$262.2K $68.51/SF
− OpEx
−$78.7K −$20.55/SF
NOI
$183.6K $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%
$3,671,400
Cap Rate 7%
$2,622,429
Cap Rate 9%
$2,039,667
Alternative Uses
Best Use
Retail
$2.62M
$2.29M – $3.06M
NOI $183,570 @ 7.0% cap · market cap 3.95%
Second Best
Mixed Use
$1.99M
$1.74M – $2.32M
NOI $138,956 @ 7.0% cap · market cap 2.99%
Theoretical Best
Specialty Retail
$3.17M
$2.77M – $3.70M
NOI $221,871 @ 7.0% cap · market cap 4.77%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
8,369
Businesses Nearby
Explore this area
Business Placement
Demographics for 11215, NY
67,493
Population
32,197
Households
2.1
Avg Household Size
37
Median Age
80%
College-Educated
96%
High-School Grad
2.2 sq mi
ZIP Area
30,679
Density / Sq Mi
$180,773
Median Household Income
$99,151
Median Earnings
$2,803
Median Rent
$1,674,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully occupied property with four apartments and retail space under a long-term lease.
Where is this mixed-use property located?
The property is located at 397 5th Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $4,650,000.
What are key features of this property?
This property features: 3,828‑square‑foot three‑story mixed‑use building; Four 2‑bedroom apartments with front and back layouts; Retail space leased for the next 10 years
