Mixed-Use Building with Retail
For Sale
$2,850,000
55 Cumberland Street, Brooklyn, NY 11205
Rent-stabilized residential units accompany two ground-floor commercial spaces in a Brooklyn mixed-use property.
Property Size7,680 SF
Lot Size0.06 Acres
Price / SF$371.09
Days on Market140
Property Features for 55 Cumberland Street
General Information
Standard status
Active
Size
7,680 SF
Lot size
0.06 Acres
Property subtype
Mixed Use
Additional Details
Multifamily Units
10
Amenities
No
Other
4
WasherHookup
Building Details
Year Built
1905
Buildings
1
Listing Agency:
Corcoran Group
(347) 446-4937
Listed By:
Santo Rosabianca · License #10401235346
(347) 446-4937
Source:
Compass
Added: Apr 15
Changed: Aug 31
Last Checked: Aug 31 at 1:59AM
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 Corcoran Group
Investment Insights
Based on property information with market context.
55 Cumberland Street is a mixed-use building containing 10 residential units and 2 ground-floor commercial spaces. The property encompasses approximately 7,680 square feet on a 2,630-square-foot lot, including 1,200 square feet of retail area. Residential units average 648 square feet, and the majority are expected to be delivered vacant, creating a repositioning and renovation component for the next owner.
The property sits in Brooklyn near Fort Greene, Clinton Hill, and the Brooklyn Navy Yard, with access to transportation, retail, and cultural amenities. Its current FAR is 2.92, compared with maximum allowable FARs of 2.0 for commercial use and 4.8 for community facility use. The existing building is overbuilt under those stated parameters, while its residential and commercial configuration provides a broad mixed-use profile.
The property sits in Brooklyn near Fort Greene, Clinton Hill, and the Brooklyn Navy Yard, with access to transportation, retail, and cultural amenities. Its current FAR is 2.92, compared with maximum allowable FARs of 2.0 for commercial use and 4.8 for community facility use. The existing building is overbuilt under those stated parameters, while its residential and commercial configuration provides a broad mixed-use profile.
Key Highlights
- 10‑unit mixed‑use building with 10 residential units and 2 ground‑floor commercial spaces
- Approximately 7,680 square feet on a 2,630 square foot lot
- Includes 1,200 square feet of retail space
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$234,462
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.23%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,689,240
$4.7M
Cap Rate 7%
$3,349,457
$3.3M
Cap Rate 9%
$2,605,133
$2.6M
Market Conditions
NOI Build-Up for 7,680 SF
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.
Gross rent
$435.0K $56.64/SF
− Vacancy
−$8.7K −$1.13/SF
EGI
$426.3K $55.51/SF
− OpEx
−$191.8K −$24.98/SF
NOI
$234.5K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,689,240
Cap Rate 7%
$3,349,457
Cap Rate 9%
$2,605,133
Alternative Uses
Best Use
Retail
$5.26M
$4.60M – $6.14M
NOI $368,291 @ 7.0% cap · market cap 12.92%
Second Best
Mixed Use
$3.98M
$3.48M – $4.65M
NOI $278,784 @ 7.0% cap · market cap 9.78%
Theoretical Best
Specialty Retail
$6.36M
$5.56M – $7.42M
NOI $445,133 @ 7.0% cap · market cap 15.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
6,309
Businesses Nearby
Explore this area
Business Placement
Demographics for 11205, NY
50,474
Population
19,200
Households
2.6
Avg Household Size
30
Median Age
52%
College-Educated
86%
High-School Grad
1.2 sq mi
ZIP Area
42,062
Density / Sq Mi
$86,753
Median Household Income
$59,901
Median Earnings
$2,307
Median Rent
$892,800
Median Home Value
Market
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 - Rent-stabilized residential units accompany two ground-floor commercial spaces in a Brooklyn mixed-use property.
Where is this mixed-use property located?
The property is located at 55 Cumberland Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,850,000.
What are key features of this property?
This property features: 10‑unit mixed‑use building with 10 residential units and 2 ground‑floor commercial spaces; Approximately 7,680 square feet on a 2,630 square foot lot; Includes 1,200 square feet of retail space
