Vacant Mixed-Use
For Sale
$995,000
5504 Church Ave, Brooklyn, NY 11203
Includes two apartments, a former church space, and finished basement area for renovation or reuse.
Property Size2,380 SF
Days on Market51
Property Features for 5504 Church Ave
General Information
Standard status
Active
Size
2,380 SF
Property subtype
Commercial
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,689
Building Details
Building Size
2,380 SF
Year Built
1931
Units
3
Listed By:
Joan St. Aubyn
(347) 882-6252
Source:
Elliman
Added: Sep 13
Changed: Oct 30
Last Checked: Nov 1 at 7:33AM
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 Joan St. Aubyn
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Investment Insights
Based on property information with market context.
Built in 1931, this vacant mixed-use property combines two upper-level apartments with flexible ground-floor and basement areas. Each apartment has two bedrooms, one full bathroom, a separate kitchen, and an open living and dining arrangement. The first floor was formerly used as a church and includes a rear office and half bathroom. A finished basement in good condition adds substantial usable area, generous ceiling height, and two half bathrooms.
The property is located at 5504 Church Ave in Brooklyn, near bus and subway transportation, shopping, services, and established local businesses. Walk Score is 73, Transit Score is 84, and Bike Score is 56. The entire property is vacant and will be conveyed as-is.
The property is located at 5504 Church Ave in Brooklyn, near bus and subway transportation, shopping, services, and established local businesses. Walk Score is 73, Transit Score is 84, and Bike Score is 56. The entire property is vacant and will be conveyed as-is.
Key Highlights
- Two upper‑level 2‑bedroom apartments, each with 1 full bathroom and a separate kitchen
- Former church space on the first floor with rear office and half bathroom
- Finished basement in good condition with generous ceiling height and 2 half bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$86,394
Cap Rate
8.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,727,880
$1.7M
Cap Rate 7%
$1,234,200
$1.2M
Cap Rate 9%
$959,933
$959.9K
Market Conditions
NOI Build-Up for 2,380 SF
Gross rent
$157.1K $66.00/SF
− Vacancy
−$18.8K −$7.92/SF
EGI
$138.2K $58.08/SF
− OpEx
−$51.8K −$21.78/SF
NOI
$86.4K $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%
$1,727,880
Cap Rate 7%
$1,234,200
Cap Rate 9%
$959,933
Alternative Uses
Best Use
Mixed Use
$1.23M
$1.08M – $1.44M
NOI $86,394 @ 7.0% cap · market cap 8.68%
Second Best
Apartment 5plus
$1.04M
$908.2K – $1.21M
NOI $72,659 @ 7.0% cap · market cap 7.30%
Theoretical Best
Specialty Retail
$1.97M
$1.72M – $2.30M
NOI $137,945 @ 7.0% cap · market cap 13.86%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,107
Businesses Nearby
Explore this area
Business Placement
Demographics for 11203, NY
81,824
Population
33,434
Households
2.4
Avg Household Size
41
Median Age
26%
College-Educated
88%
High-School Grad
2.1 sq mi
ZIP Area
38,964
Density / Sq Mi
$68,028
Median Household Income
$47,302
Median Earnings
$1,566
Median Rent
$677,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Includes two apartments, a former church space, and finished basement area for renovation or reuse.
Where is this mixed-use property located?
The property is located at 5504 Church Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Two upper‑level 2‑bedroom apartments, each with 1 full bathroom and a separate kitchen; Former church space on the first floor with rear office and half bathroom; Finished basement in good condition with generous ceiling height and 2 half bathrooms
