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 Market105
Property Features for 524 Lorimer Street
General Information
Standard status
Active
Size
4,180 SF
Property subtype
Mixed Use
Zoning
R6B
Occupancy
100%
Net Operating Income
$288,111
Additional Details
Multifamily Units
3
Building Details
Year Built
1899
Year Renovated
2026
Buildings
1
Stories
3
Units
5
Tenancy
Multi
Listing Agency:
Cushman & Wakefield New York
Listed By:
Nick Kolbus · License #NY 10401356729
(718) 275-5472
Source:
Crexi
Added: Jul 21
Changed: Oct 25
Last Checked: Nov 1 at 3:26AM
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 New York
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Review the available facts, identify missing information and prepare questions for the agent.
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
Estimated NOI and Cap Rate
NOI / Yr
$151,734
Cap Rate
2.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,034,680
$3.0M
Cap Rate 7%
$2,167,629
$2.2M
Cap Rate 9%
$1,685,933
$1.7M
Market Conditions
NOI Build-Up for 4,180 SF
Gross rent
$275.9K $66.00/SF
− Vacancy
−$33.1K −$7.92/SF
EGI
$242.8K $58.08/SF
− OpEx
−$91.0K −$21.78/SF
NOI
$151.7K $36.30/SF
Area
Brooklyn, NY
Vacancy
12.00%
Lease Rate
$66.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,034,680
Cap Rate 7%
$2,167,629
Cap Rate 9%
$1,685,933
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
3
Residential units
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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.
