Corner Mixed-Use Building with Commercial
For Sale
Contact for pricing
Pending
493 Tompkins Ave, Brooklyn, NY 11216
Extra-wide corner mixed-use building with ground-floor commercial space, plus residential units on the 2nd and 3rd floors.
Property Size3,300 SF
Lot Size0.04 Acres
Days on Market245
Property Features for 493 Tompkins Ave
General Information
Standard status
Pending
Size
3,300 SF
Lot size
0.04 Acres
Property subtype
Mixed Use
Occupancy
100%
Investment Type
Value Add
Additional Details
Multifamily Units
2
Building Details
Stories
3
Units
3
Tenancy
Multi
Listing Agency:
Home By Choice
Listed By:
elliott arkin · License #NY
Source:
Crexi
Added: Jan 6
Changed: Aug 8
Last Checked: Jul 24 at 11:19AM
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 Home By Choice
Investment Insights
Based on property information with market context.
This extra-wide corner mixed-use building includes approximately 3,300 square feet currently in place, plus a fully usable basement. The existing layout features a large ground-floor commercial space with a full basement beneath it, a 3-bedroom apartment on the 2nd floor with backyard access, and a large 2-bedroom unit on the 3rd floor that is described as easily convertible to a 3-bedroom configuration. The building is reported to be in excellent condition, with all free-market residential units.
The ground-floor commercial space is leased for $5,025 per month with 5% increases each year and the tenant pays one-half of the water bill. The lease is set to end in 2028, with a 5-year option to renew.
Reported financials include an as-is NOI of approximately $121,000 and total expenses of about $22,000, with low taxes noted at $4,241 per year. Current stated rents total $11,725 per month, with a projected rent roll described as $14,250 per month with slight renovations.
The ground-floor commercial space is leased for $5,025 per month with 5% increases each year and the tenant pays one-half of the water bill. The lease is set to end in 2028, with a 5-year option to renew.
Reported financials include an as-is NOI of approximately $121,000 and total expenses of about $22,000, with low taxes noted at $4,241 per year. Current stated rents total $11,725 per month, with a projected rent roll described as $14,250 per month with slight renovations.
Key Highlights
- 22' x 50' extra‑wide corner mixed‑use building at 493 Tompkins Ave (aka 3 Decatur Street).
- 3,300 SF currently plus a fully usable basement; total buildable approx. 4,640 SF (FAR 3).
- Ground‑floor commercial space with lease through 2028 and 5‑year option; current rent $5,025 with 5% annual increases (pays 1/2 water).
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
5,450
Businesses Nearby
Explore this area
Business Placement
Demographics for 11216, NY
61,251
Population
28,825
Households
2.1
Avg Household Size
34
Median Age
56%
College-Educated
91%
High-School Grad
1.0 sq mi
ZIP Area
61,251
Density / Sq Mi
$95,000
Median Household Income
$61,389
Median Earnings
$2,180
Median Rent
$1,398,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Extra-wide corner mixed-use building with ground-floor commercial space, plus residential units on the 2nd and 3rd floors.
Where is this mixed-use property located?
The property is located at 493 Tompkins Ave Brooklyn, NY.
What are key features of this property?
This property features: 22' x 50' extra‑wide corner mixed‑use building at 493 Tompkins Ave (aka 3 Decatur Street).; 3,300 SF currently plus a fully usable basement; total buildable approx. 4,640 SF (FAR 3).; Ground‑floor commercial space with lease through 2028 and 5‑year option; current rent $5,025 with 5% annual increases (pays 1/2 water).
