Corner Brick Mixed-Use
4424 3rd Avenue Brooklyn, NY 11220
For Sale
$2,395,000
Corner brick mixed-use with four retail stores, two four-bedroom apartments, and an unfinished basement.
Property Size5,700 SF
Lot Size0.06 Acres
Price / SF$420.18
Days on Market73
Property Features for 4424 3rd Avenue
General Information
- Standard status
- Active
- Size
- 5,700 SF
- Lot size
- 0.06 Acres
- Property subtype
- Mixed Use
Building Details
- Year Built
- 1950
Listing Agency:
Bellmarc
(718) 768-4500
Listed By:
Ali Tom · License #at7155
(718) 768-4500
Source:
Compass
Added: May 13
Changed: Jul 23
Last Checked: Jul 23 at 9:24AM
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 Bellmarc
Investment Insights
Based on property information with market context.
Corner brick mixed-use property offering both front and rear buildings on a single lot, with a total of four retail stores and two four-bedroom apartments. The basement is full and unfinished, with high ceilings suitable for storage. The building is equipped with a gas boiler and water heaters, and the roof may provide space potentially usable for outdoor advertising.
The property is positioned for visibility along 3rd Avenue and is described as being minutes from the 45th Street R train station. It is also presented as conveniently located near Industry City and major routes including the Belt Parkway, Gowanus Expressway, Verrazzano Bridge, Staten Island, and with access to the Battery Tunnel and Manhattan. Owner financing may be available, and it is described as possibly delivered vacant.
The property is positioned for visibility along 3rd Avenue and is described as being minutes from the 45th Street R train station. It is also presented as conveniently located near Industry City and major routes including the Belt Parkway, Gowanus Expressway, Verrazzano Bridge, Staten Island, and with access to the Battery Tunnel and Manhattan. Owner financing may be available, and it is described as possibly delivered vacant.
Key Highlights
- Corner brick mixed‑use property on a 25' x 100' lot at 4424 3rd Ave (275‑283 45th St).
- Includes 4 commercial/retail stores and 2 four‑bedroom apartments on one lot with both front and rear buildings.
- Combined building size of approximately 5,450 sqft, plus a full unfinished basement with high ceilings.
Financial Insights For Multifamily LT 5
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 | $253.1k | $44.40 |
| − Vacancy | −$10.6k | −$1.86 |
| EGI | $242.5k | $42.54 |
| − OpEx | −$72.7k | −$12.76 |
| NOI | $169.7k | $29.77 |
5,700 SF · lease $44.40/SF/yr · vacancy 4.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$2.42M
$2.12M – $2.83M
NOI $169,715 @ 7.0% cap · market cap 7.09%
Second Best
Mixed Use
$2.25M
$1.97M – $2.62M
NOI $157,320 @ 7.0% cap · market cap 6.57%
Theoretical Best
Office A
$3.70M
$3.23M – $4.31M
NOI $258,661 @ 7.0% cap · market cap 10.80%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
RAFY TV CORP
Computer & Electronic Repair
FAQs
What type of property is this?
Mixed-use property - Corner brick mixed-use with four retail stores, two four-bedroom apartments, and an unfinished basement.
Where is this mixed-use property located?
The property is located at 4424 3rd Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,395,000.
What are key features of this property?
This property features: Corner brick mixed‑use property on a 25' x 100' lot at 4424 3rd Ave (275‑283 45th St).; Includes 4 commercial/retail stores and 2 four‑bedroom apartments on one lot with both front and rear buildings.; Combined building size of approximately 5,450 sqft, plus a full unfinished basement with high ceilings.
