Mixed-Use Building with Restaurant
For Sale
$1,850,000
408 Rogers Avenue, Brooklyn, NY 11225
Mixed-use property featuring a restaurant, lounge, and residential units.
Property Size4,000 SF
Price / SF$462.50
Days on Market178
Property Features for 408 Rogers Avenue
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$10,020
Building Details
Building Size
4,000 SF
Year Built
1899
Listing Agency:
Corcoran Group
Listed By:
Andrew W Mapp · License #30MA1017151
(917) 771-8372
Source:
Miradorrealestate
Added: Mar 12
Changed: Sep 4
Last Checked: Aug 4 at 5:38AM
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 Corcoran Group
Investment Insights
Based on property information with market context.
This mixed-use building features a commercial restaurant, lounge, and music venue, along with two identical residential units. These two-bedroom, one-bathroom apartments are situated above the retail space in Prospect Lefferts Gardens. One unit includes a spacious outdoor area. Both units are bright, floor-through layouts with new floors, appliances, lighting, split-systems, and radiators. They feature separate dining areas and living areas. The commercial space is a well-received venue with an aesthetic. The property also offers roughly 1500 sq. ft. of buildable space represented in additional-FAR. The location provides subway access with the 2/5/Q/B/S lines. Prospect Park and the Brooklyn Botanic Garden are nearby. Lindl, Lincoln Market, and Western Beef offer a variety of supermarkets.
Key Highlights
- Established commercial restaurant/lounge/music venue with a strong reputation.
- Two spacious, renovated 2‑bedroom/1‑bath residential units with new floors, appliances, lighting, and split‑system A/C.
- One residential unit features a large, private outdoor space.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$145,200
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.85%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,904,000
$2.9M
Cap Rate 7%
$2,074,286
$2.1M
Cap Rate 9%
$1,613,333
$1.6M
Market Conditions
NOI Build-Up for 4,000 SF
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.
Gross rent
$264.0K $66.00/SF
− Vacancy
−$31.7K −$7.92/SF
EGI
$232.3K $58.08/SF
− OpEx
−$87.1K −$21.78/SF
NOI
$145.2K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,904,000
Cap Rate 7%
$2,074,286
Cap Rate 9%
$1,613,333
Alternative Uses
Best Use
Specialty Retail
$3.31M
$2.90M – $3.86M
NOI $231,840 @ 7.0% cap · market cap 12.53%
Second Best
Mixed Use
$2.07M
$1.82M – $2.42M
NOI $145,200 @ 7.0% cap · market cap 7.85%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,919
Businesses Nearby
273k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 51%
Shops & Services 26%
Groceries 22%
Wendy's
Dining
43,525 visits/mo
0.4 miles
McDonald's
Dining
35,394 visits/mo
0.4 miles
Western Beef
Groceries
32,543 visits/mo
0.3 miles
Checkers
Dining
17,690 visits/mo
0.4 miles
BP
Shops & Services
16,358 visits/mo
0.1 miles
Demographics for 11225, NY
58,786
Population
26,703
Households
2.2
Avg Household Size
36
Median Age
48%
College-Educated
89%
High-School Grad
0.9 sq mi
ZIP Area
65,318
Density / Sq Mi
$85,201
Median Household Income
$54,639
Median Earnings
$1,733
Median Rent
$1,218,300
Median Home Value
Market
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 featuring a restaurant, lounge, and residential units.
Where is this mixed-use property located?
The property is located at 408 Rogers Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Established commercial restaurant/lounge/music venue with a strong reputation.; Two spacious, renovated 2‑bedroom/1‑bath residential units with new floors, appliances, lighting, and split‑system A/C.; One residential unit features a large, private outdoor space.
