Mixed-Use Portfolio With Vacant
For Sale
Contact for pricing
415 Broadway, Brooklyn, NY 11211
Two Brooklyn buildings combine residential units with ground-floor commercial space.
Property Size17,439 SF
Price / SF$693.85
Days on Market9
Property Features for 415 Broadway
General Information
Standard status
Active
Size
17,439 SF
Property subtype
Mixed Use
Zoning
R6 (C2-3 overlay)
Building Details
Year Built
2017
Year Renovated
2018
Buildings
2
Units
19
Tenancy
Multi
Listing Agency:
Avison Young - New York
Listed By:
Miles Davis-Bosch · License #NW
(212) 277-5557
Source:
Crexi
Added: Aug 26
Changed: Sep 1
Last Checked: Sep 1 at 9:21PM
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 Avison Young - New York
Investment Insights
Based on property information with market context.
This Williamsburg mixed-use portfolio includes 415 Broadway, a 4-story, 22-foot-wide walk-up completed with a gut renovation in 2018, and 319 Broadway, a 6-story, 25-foot-wide elevator building constructed in 2017. Together, the properties contain approximately 17,411 square feet across 18 residential units and two ground-floor commercial spaces. The larger building also includes a basement.
The 415 Broadway building contains approximately 6,200 square feet, eight free-market apartments, and one commercial space. At approximately 11,211 square feet, 319 Broadway includes 10 apartments, seven free-market units, three rent-stabilized affordable units, and one commercial space. The stabilized units are identified as reverting to free-market status when the abatement expires.
The commercial space at 319 Broadway is vacant and available for lease-up. The property is located in Williamsburg, Brooklyn, and is zoned R6 with a C2-3 overlay.
The 415 Broadway building contains approximately 6,200 square feet, eight free-market apartments, and one commercial space. At approximately 11,211 square feet, 319 Broadway includes 10 apartments, seven free-market units, three rent-stabilized affordable units, and one commercial space. The stabilized units are identified as reverting to free-market status when the abatement expires.
The commercial space at 319 Broadway is vacant and available for lease-up. The property is located in Williamsburg, Brooklyn, and is zoned R6 with a C2-3 overlay.
Key Highlights
- Two‑building mixed‑use portfolio at 415 Broadway and 319 Broadway in Williamsburg, Brooklyn
- Approximately 17,439 SF of total property size
- 18 residential units and two ground‑floor commercial spaces
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
$836,280
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
6.91%
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%
$16,725,600
$16.7M
Cap Rate 7%
$11,946,857
$11.9M
Cap Rate 9%
$9,292,000
$9.3M
Market Conditions
NOI Build-Up for 17,439 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
$1.36M $77.76/SF
− Vacancy
−$161.4K −$9.25/SF
EGI
$1.19M $68.51/SF
− OpEx
−$358.4K −$20.55/SF
NOI
$836.3K $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 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%
$16,725,600
Cap Rate 7%
$11,946,857
Cap Rate 9%
$9,292,000
Alternative Uses
Best Use
Retail
$11.95M
$10.45M – $13.94M
NOI $836,280 @ 7.0% cap · market cap 6.91%
Second Best
Mixed Use
$9.04M
$7.91M – $10.55M
NOI $633,036 @ 7.0% cap · market cap 5.23%
Theoretical Best
Specialty Retail
$14.44M
$12.63M – $16.85M
NOI $1,010,764 @ 7.0% cap · market cap 8.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
8,071
Businesses Nearby
Explore this area
Business Placement
Demographics for 11211, NY
68,540
Population
29,068
Households
2.4
Avg Household Size
31
Median Age
55%
College-Educated
86%
High-School Grad
1.5 sq mi
ZIP Area
45,693
Density / Sq Mi
$105,183
Median Household Income
$67,533
Median Earnings
$2,357
Median Rent
$1,118,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two Brooklyn buildings combine residential units with ground-floor commercial space.
Where is this mixed-use property located?
The property is located at 415 Broadway Brooklyn, NY.
What is the asking price?
The asking price for this property is $12,100,000.
What are key features of this property?
This property features: Two‑building mixed‑use portfolio at 415 Broadway and 319 Broadway in Williamsburg, Brooklyn; Approximately 17,439 SF of total property size; 18 residential units and two ground‑floor commercial spaces
