Vacant Retail and Residential
429-431 Columbia St Brooklyn, NY 11231
For Sale
Contact for pricing
A 2,000 SF vacant retail space paired with residential income, offering conversion opportunity for a qualified buyer.
Property Size5,160 SF
Price / SF$1,046
Days on Market182
Property Features for 429-431 Columbia St
General Information
- Standard status
- Active
- Size
- 5,160 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1921
Listing Agency:
Matthews
Listed By:
DJ Johnston · License #NY 10401229409
Source:
Crexi
Added: Jan 23
Changed: Jul 23
Last Checked: Jul 23 at 10:56AM
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 Matthews
Investment Insights
Based on property information with market context.
The property is a mixed-use offering featuring a vacant 2,000 SF retail space intended for a retail end-user, along with residential income. With the retail component currently available, the space presents an opportunity for an incoming operator or buyer to position the property for retail use.
Located at 429-431 Columbia St in Brooklyn, NY, the asset combines commercial and residential components under one ownership.
As presented, the offering includes retail and residential income as part of the same mixed-use structure, with the retail area available for occupancy.
Located at 429-431 Columbia St in Brooklyn, NY, the asset combines commercial and residential components under one ownership.
As presented, the offering includes retail and residential income as part of the same mixed-use structure, with the retail area available for occupancy.
Key Highlights
- 2,000 SF vacant retail space for a retail end‑user
- Property includes residential income alongside the vacant retail space
- Year built: 1921
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $401.2k | $77.76 |
| − Vacancy | −$47.7k | −$9.25 |
| EGI | $353.5k | $68.51 |
| − OpEx | −$106.0k | −$20.55 |
| NOI | $247.4k | $47.95 |
5,160 SF · lease $77.76/SF/yr · vacancy 11.90% · expense 30.00%
Alternative Uses
Best Use
Retail
$3.53M
$3.09M – $4.12M
NOI $247,446 @ 7.0% cap · market cap 4.58%
Second Best
Mixed Use
$2.68M
$2.34M – $3.12M
NOI $187,308 @ 7.0% cap · market cap 3.47%
Theoretical Best
Specialty Retail
$4.27M
$3.74M – $4.98M
NOI $299,074 @ 7.0% cap · market cap 5.54%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Retail space
FAQs
What type of property is this?
Mixed-use property - A 2,000 SF vacant retail space paired with residential income, offering conversion opportunity for a qualified buyer.
Where is this mixed-use property located?
The property is located at 429-431 Columbia St Brooklyn, NY.
What is the asking price?
The asking price for this property is $5,400,000.
What are key features of this property?
This property features: 2,000 SF vacant retail space for a retail end‑user; Property includes residential income alongside the vacant retail space; Year built: 1921
