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 Market232
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
Listed By:
Santo Rosabianca · License #10401235346
(347) 446-4937
Source:
Compass
Added: Feb 28
Changed: Oct 16
Last Checked: Oct 16 at 11:09AM
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
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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.
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 / Yr
$234,462
Cap Rate
8.23%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
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
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
