Mixed-Use Building with Live-Work
New
For Sale
$3,200,000
551 Grand Street, Brooklyn, NY 11211
Vacant delivery includes ground-floor commercial space and a two-bedroom residence above.
Property Size3,375 SF
Lot Size0.05 Acres
Price / SF$948.15
Days on Market3
Property Features for 551 Grand Street
General Information
Standard status
Active
Size
3,375 SF
Lot size
0.05 Acres
Property subtype
Mixed Use
Zoning
R7A / C2-4
Occupancy
100%
Additional Details
Opportunity Zone
Yes
Public Transit
Yes
Office Units
1
Taxes and HOA fees
Annual Taxes
$3,615
Building Details
Building Size
3,375 SF
Year Built
1920
Buildings
1
Stories
2
Owner Occupied
Yes
Listing Agency:
Compass
Listed By:
Anna Ishizaki
(347) 559-2884
Source:
Miradorrealestate
Added: Oct 8
Changed: Oct 10
Last Checked: Oct 9 at 9:47PM
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 Compass
Investment Insights
Based on property information with market context.
This two-story mixed-use property contains approximately 3,375 square feet and will be delivered vacant. The ground floor is configured as commercial space; the upper floor has a two-bedroom, one-bathroom residence with living and dining areas and a kitchen in a railroad layout. A full basement provides additional space. The building was constructed in 1920, and the site is 22.5 x 100 feet. The first floor measures 22.5 x 100 feet, while the second floor measures 22.5 x 50 feet.
The property is at 551 Grand Street in Brooklyn. The G and L trains at Metropolitan Avenue–Lorimer Street, Bedford Avenue, McCarren Park, Whole Foods, Lidl, and neighborhood restaurants, cafes, and shops are nearby. Zoning is R7A / C2-4, with a maximum FAR of 4.0. The property is within a Qualified Opportunity Zone and has unused FAR; expansion or development would be subject to zoning and applicable approvals.
The property is at 551 Grand Street in Brooklyn. The G and L trains at Metropolitan Avenue–Lorimer Street, Bedford Avenue, McCarren Park, Whole Foods, Lidl, and neighborhood restaurants, cafes, and shops are nearby. Zoning is R7A / C2-4, with a maximum FAR of 4.0. The property is within a Qualified Opportunity Zone and has unused FAR; expansion or development would be subject to zoning and applicable approvals.
Key Highlights
- Approximately 3,375 square feet across a two‑story mixed‑use building
- One commercial unit and one two‑bedroom residential unit; delivered vacant
- Full basement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$122,513
Cap Rate
3.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,450,260
$2.5M
Cap Rate 7%
$1,750,186
$1.8M
Cap Rate 9%
$1,361,256
$1.4M
Market Conditions
NOI Build-Up for 3,375 SF
Gross rent
$222.8K $66.00/SF
− Vacancy
−$26.7K −$7.92/SF
EGI
$196.0K $58.08/SF
− OpEx
−$73.5K −$21.78/SF
NOI
$122.5K $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%
$2,450,260
Cap Rate 7%
$1,750,186
Cap Rate 9%
$1,361,256
Alternative Uses
Best Use
Mixed Use
$1.75M
$1.53M – $2.04M
NOI $122,513 @ 7.0% cap · market cap 3.83%
Second Best
Office B
$1.20M
$1.05M – $1.40M
NOI $84,200 @ 7.0% cap · market cap 2.63%
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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Current Use
Lease Details
1
Office units
100%
Occupancy
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 - Vacant delivery includes ground-floor commercial space and a two-bedroom residence above.
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: Approximately 3,375 square feet across a two‑story mixed‑use building; One commercial unit and one two‑bedroom residential unit; delivered vacant; Full basement
