Prime 13th Avenue Commercial
For Sale
$3,800,000
4924 13th Avenue, Brooklyn, NY 11219
Eight-unit mixed-use building in bustling Boro Park retail corridor.
Property Size5,400 SF
Price / SF$703.70
Days on Market806
Property Features for 4924 13th Avenue
General Information
Standard status
Active
Size
5,400 SF
Property subtype
Commercial/Industrial
Taxes and HOA fees
Annual Taxes
$31,714
Building Details
Year Built
1920
Listing Agency:
RE/MAX Real Estate Professiona
Listed By:
Billy E. Apter · License #BEA5721
(718) 532-2000
Source:
Exitrealty
Added: Jul 26, 2024
Changed: Sep 5
Last Checked: Sep 15 at 6:31AM
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 RE/MAX Real Estate Professiona
Investment Insights
Based on property information with market context.
Located in the heart of the high-traffic 13th Avenue in Boro Park, this three-story corner building offers a rare real estate opportunity. The solid brick building, with a size of 20x85 and 5400 square feet, is situated in the busiest retail and commercial corridor of Boro Park. Configured with eight commercial units, including four storefronts and four office spaces, the property is suitable for investment or for an owner-user looking to operate their own business while generating rental income. The building features two office spaces on the third floor, two office spaces on the second floor, and four highly visible storefronts on the first floor. A full finished basement provides additional income through storage use. Tenants are responsible for their own separate utilities. The property is located in a Walker's Paradise with a walk score of 94, and has excellent transit with a transit score of 78. It is also bikeable, with a bike score of 69.
Key Highlights
- Prime location on high‑traffic 13th Avenue in Boro Park's retail/commercial corridor.
- Eight commercial units: four storefronts and four office spaces.
- Large, solid brick corner building: 5400 sqft (20x85) and three stories.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$126,158
Cap Rate
3.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,523,160
$2.5M
Cap Rate 7%
$1,802,257
$1.8M
Cap Rate 9%
$1,401,756
$1.4M
Market Conditions
NOI Build-Up for 5,400 SF
Gross rent
$226.8K $42.00/SF
− Vacancy
−$24.9K −$4.62/SF
EGI
$201.9K $37.38/SF
− OpEx
−$75.7K −$14.02/SF
NOI
$126.2K $23.36/SF
Area
ZIP 11219
Vacancy
11.00%
Lease Rate
$42.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,523,160
Cap Rate 7%
$1,802,257
Cap Rate 9%
$1,401,756
Alternative Uses
Best Use
Mixed Use
$1.80M
$1.58M – $2.10M
NOI $126,158 @ 7.0% cap · market cap 3.32%
Second Best
Retail
$1.62M
$1.42M – $1.89M
NOI $113,672 @ 7.0% cap · market cap 2.99%
Theoretical Best
Office A
$3.50M
$3.06M – $4.08M
NOI $245,048 @ 7.0% cap · market cap 6.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
7,487
Businesses Nearby
30k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 77%
Dining 17%
Electronics 6%
Exxon
Shops & Services
8,096 visits/mo
0.4 miles
TD Bank
Shops & Services
6,617 visits/mo
0.2 miles
Golden Dragon
Dining
4,268 visits/mo
0.4 miles
FedEx Office Print & Ship Center
Shops & Services
3,716 visits/mo
0.3 miles
Citibank
Shops & Services
2,888 visits/mo
0.3 miles
Demographics for 11219, NY
103,447
Population
27,973
Households
3.7
Avg Household Size
27
Median Age
21%
College-Educated
70%
High-School Grad
1.5 sq mi
ZIP Area
68,965
Density / Sq Mi
$55,685
Median Household Income
$30,647
Median Earnings
$1,678
Median Rent
$1,086,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Eight-unit mixed-use building in bustling Boro Park retail corridor.
Where is this mixed-use property located?
The property is located at 4924 13th Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,800,000.
What are key features of this property?
This property features: Prime location on high‑traffic 13th Avenue in Boro Park's retail/commercial corridor.; Eight commercial units: four storefronts and four office spaces.; Large, solid brick corner building: 5400 sqft (20x85) and three stories.
