Mixed-Use Walkup
For Sale
Contact for pricing
524 Lorimer Street, Brooklyn, NY 11211
A fully occupied mixed-use walkup with two commercial units and three residential units totaling 4,150 SF.
Property Size4,180 SF
Price / SF$1,220
Days on Market12
Property Features for 524 Lorimer Street
General Information
Standard status
Active
Size
4,180 SF
Property subtype
Mixed Use
Occupancy
100%
Additional Details
Multifamily Units
3
Building Details
Year Built
1899
Tenancy
Multi
Listing Agency:
Cushman & Wakefield
Listed By:
Dimitri Venekas · License #10401278952
Source:
Crexi
Added: Jul 21
Changed: Jul 26
Last Checked: Aug 1 at 10:27AM
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 Cushman & Wakefield
Investment Insights
Based on property information with market context.
524 Lorimer Street is a mixed-use walkup building totaling 4,150 SF, including 700 SF below grade. The property is comprised of 2 commercial units and 3 residential units and is currently completely occupied, with 100% free-market tenancy.
The building is positioned approximately two blocks from the Lorimer Street Station, which provides access to the subway line with commutes of less than 15 minutes into Lower Manhattan.
Ownership has completed recent capital improvements, including replacements of the heating and cooling system, water heaters, roof, siding, intercom system, and surveillance cameras.
The building is positioned approximately two blocks from the Lorimer Street Station, which provides access to the subway line with commutes of less than 15 minutes into Lower Manhattan.
Ownership has completed recent capital improvements, including replacements of the heating and cooling system, water heaters, roof, siding, intercom system, and surveillance cameras.
Key Highlights
- Mixed‑use walkup with 2 commercial units and 3 residential units totaling 4,150 SF (including 700 SF below grade).
- Fully occupied and 100% free‑market with ZERO deferred maintenance.
- Recent capital improvements include HCAV system, water heaters, roof, siding, intercom system, and surveillance cameras.
Financial Insights For Mixed Use
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 | $275.9k | $66.00 |
| − Vacancy | −$33.1k | −$7.92 |
| EGI | $242.8k | $58.08 |
| − OpEx | −$91.0k | −$21.78 |
| NOI | $151.7k | $36.30 |
4,180 SF · lease $66.00/SF/yr · vacancy 12.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$2.17M
$1.90M – $2.53M
NOI $151,734 @ 7.0% cap · market cap 2.98%
Second Best
Multifamily LT 5
$2.09M
$1.83M – $2.44M
NOI $146,391 @ 7.0% cap · market cap 2.87%
Theoretical Best
Specialty Retail
$3.46M
$3.03M – $4.04M
NOI $242,273 @ 7.0% cap · market cap 4.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
7,043
Businesses Nearby
Explore this area
Business Placement
Demographics for 11211, NY
68,540
Population
29,068
Households
2.4
Avg Household Size
31
Median Age
55%
College-Educated
86%
High-School Grad
1.5 sq mi
ZIP Area
45,693
Density / Sq Mi
$105,183
Median Household Income
$67,533
Median Earnings
$2,357
Median Rent
$1,118,600
Median Home Value
Market
Properties on Market for Mixed-use properties in Brooklyn
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - A fully occupied mixed-use walkup with two commercial units and three residential units totaling 4,150 SF.
Where is this mixed-use property located?
The property is located at 524 Lorimer Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $5,100,000.
What are key features of this property?
This property features: Mixed‑use walkup with 2 commercial units and 3 residential units totaling 4,150 SF (including 700 SF below grade).; Fully occupied and 100% free‑market with ZERO deferred maintenance.; Recent capital improvements include HCAV system, water heaters, roof, siding, intercom system, and surveillance cameras.
