Mixed-Use Corner
For Sale
Contact for pricing
5023 5th Ave, Brooklyn, NY 11220
The property combines retail and residential occupancy under C4-3A zoning.
Property Size7,000 SF
Price / SF$685.71
Days on Market187
Property Features for 5023 5th Ave
General Information
Standard status
Active
Size
7,000 SF
Class
C
Property subtype
Mixed Use
Zoning
C4-3A
Occupancy
100%
Lease Type
Gross
Investment Type
Stabilized
Net Operating Income
$242,119
Site & Location
Corner Location
Yes
Road Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
4
Building Details
Year Built
1927
Buildings
1
Stories
3
Units
10
Tenancy
Multi
Listing Agency:
East Coast New York Inc.
Listed By:
Eric Li · License #10301218578
(917) 974-0992
Source:
Crexi
Added: Apr 15
Changed: Oct 10
Last Checked: Oct 16 at 8:46AM
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 East Coast New York Inc.
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Investment Insights
Based on property information with market context.
Built in 1927, this 7,000-square-foot mixed-use building contains six retail units and four residential units. The property is fully occupied, with all tenants operating under month-to-month rental agreements. Its corner configuration at 5th Avenue and 51st Street provides a prominent commercial setting within the surrounding corridor.
The building is located one block from the N, W, and R subway lines and is also served by several major bus routes. C4-3A zoning and the combination of retail and residential components support the property's established mixed-use format.
The building is located one block from the N, W, and R subway lines and is also served by several major bus routes. C4-3A zoning and the combination of retail and residential components support the property's established mixed-use format.
Key Highlights
- 7,000 SF mixed‑use building constructed in 1927
- Six retail units and four residential units
- 100% occupied with month‑to‑month rental agreements
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$193,200
Cap Rate
4.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,864,000
$3.9M
Cap Rate 7%
$2,760,000
$2.8M
Cap Rate 9%
$2,146,667
$2.1M
Market Conditions
NOI Build-Up for 7,000 SF
Gross rent
$336.0K $48.00/SF
− Vacancy
−$26.9K −$3.84/SF
EGI
$309.1K $44.16/SF
− OpEx
−$115.9K −$16.56/SF
NOI
$193.2K $27.60/SF
Area
ZIP 11220
Vacancy
8.00%
Lease Rate
$48.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,864,000
Cap Rate 7%
$2,760,000
Cap Rate 9%
$2,146,667
Alternative Uses
Best Use
Mixed Use
$2.76M
$2.42M – $3.22M
NOI $193,200 @ 7.0% cap · market cap 4.03%
Second Best
Apartment 5plus
$2.67M
$2.33M – $3.11M
NOI $186,666 @ 7.0% cap · market cap 3.89%
Theoretical Best
Office A
$4.54M
$3.97M – $5.29M
NOI $317,654 @ 7.0% cap · market cap 6.62%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
6,917
Businesses Nearby
Explore this area
Business Placement
Demographics for 11220, NY
105,797
Population
30,897
Households
3.4
Avg Household Size
35
Median Age
25%
College-Educated
62%
High-School Grad
1.7 sq mi
ZIP Area
62,234
Density / Sq Mi
$64,201
Median Household Income
$31,489
Median Earnings
$1,688
Median Rent
$1,021,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The property combines retail and residential occupancy under C4-3A zoning.
Where is this mixed-use property located?
The property is located at 5023 5th Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $4,800,000.
What are key features of this property?
This property features: 7,000 SF mixed‑use building constructed in 1927; Six retail units and four residential units; 100% occupied with month‑to‑month rental agreements
