Mixed-Use Building with
New
For Sale
$3,200,000
551 Grand Street, Brooklyn, NY 11211
Commercial Sale, Brooklyn, NY
Property Size3,375 SF
Lot Size0.05 Acres
Price / SF$948.15
Days on Market2
Property Features for 551 Grand Street
General Information
Property type
Commercial Sale
Property subtype
Other
Bedrooms
1
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1, Bathroom 1
Subdivision
Williamsburg
High school district
000000
Standard status
Active
Size
3,375 SF
Lot size
0.05 Acres
Building Details
Architectural style
Other
Listing Agency:
Compass
(646) 982-0353
Listed By:
Ania Ishizaki
Added: Oct 8
Changed: Oct 9
Last Checked: Oct 9 at 9:06AM
MLS# 12019799
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-story mixed-use property contains a ground-floor commercial unit and a second-floor residence with two bedrooms, one bathroom, and a living/dining room and kitchen in a railroad-style arrangement. A full basement is also part of the building. The commercial space has been used as the owner’s workspace; the property has no tenants and is to be delivered vacant. Total building area is approximately 3,375 square feet. The lot measures 22.5 by 100 feet, with the second floor measuring 22.5 by 50 feet. Zoning is R7A / C2-4, with a maximum FAR of 4.0, and the property is in a Qualified Opportunity Zone.
The property is near the G and L trains at Metropolitan Avenue-Lorimer Street. Bedford Avenue, McCarren Park, Whole Foods, Lidl, and local restaurants, cafes, and shops are also nearby.
The property is near the G and L trains at Metropolitan Avenue-Lorimer Street. Bedford Avenue, McCarren Park, Whole Foods, Lidl, and local restaurants, cafes, and shops are also nearby.
Key Highlights
- Two‑story configuration with one commercial unit and one residential unit
- Approximately 3,375 square feet of building area
- Full basement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$161,847
Cap Rate
5.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,236,940
$3.2M
Cap Rate 7%
$2,312,100
$2.3M
Cap Rate 9%
$1,798,300
$1.8M
Market Conditions
NOI Build-Up for 3,375 SF
Gross rent
$262.4K $77.76/SF
− Vacancy
−$31.2K −$9.25/SF
EGI
$231.2K $68.51/SF
− OpEx
−$69.4K −$20.55/SF
NOI
$161.8K $47.95/SF
Area
Brooklyn, NY
Vacancy
11.90%
Lease Rate
$77.76 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,236,940
Cap Rate 7%
$2,312,100
Cap Rate 9%
$1,798,300
Alternative Uses
Best Use
Retail
$2.31M
$2.02M – $2.70M
NOI $161,847 @ 7.0% cap · market cap 5.06%
Second Best
Mixed Use
$1.75M
$1.53M – $2.04M
NOI $122,513 @ 7.0% cap · market cap 3.83%
Theoretical Best
Specialty Retail
$2.79M
$2.45M – $3.26M
NOI $195,615 @ 7.0% cap · market cap 6.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
8,980
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
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - A two-story property pairs a commercial ground floor with an upper-level residence and is slated for vacant delivery.
Where is this mixed-use property located?
The property is located at 551 Grand Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: Two‑story configuration with one commercial unit and one residential unit; Approximately 3,375 square feet of building area; Full basement
