Corner Mixed-Use
For Sale
$2,300,000
5602 New Utrecht Avenue, Brooklyn, NY 11219
Brick property combines two apartments with pharmacy and office space in a semi-attached corner configuration.
Property Size2,640 SF
Price / SF$871.21
Days on Market47
Property Features for 5602 New Utrecht Avenue
General Information
Standard status
Active
Size
2,640 SF
Property subtype
Mixed Use
Listing Agency:
Superior Realty Service
(347) 554-8282
Listed By:
Diana Melerud · License #MELNA1282
(347) 554-8282
Source:
Prideestates
Added: Jul 16
Changed: Aug 30
Last Checked: Aug 30 at 5:26PM
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 Superior Realty Service
Investment Insights
Based on property information with market context.
This 2,640 SF mixed-use building is a brick, semi-attached corner property with two residential units and two commercial spaces. The apartment component includes one three-bedroom unit and one two-bedroom unit, while the storefront portion consists of a pharmacy and an office. A finished, modern basement provides additional improved space, and the building measures 20 x 44 feet on a 22.42 x 44.17-foot lot.
The property is located at 5602 New Utrecht Avenue in Brooklyn’s Borough Park area, with trains, buses, schools, and shopping nearby. The combination of residential and commercial occupancy creates a varied property configuration within a single building.
The property is located at 5602 New Utrecht Avenue in Brooklyn’s Borough Park area, with trains, buses, schools, and shopping nearby. The combination of residential and commercial occupancy creates a varied property configuration within a single building.
Key Highlights
- Two apartments: one 3‑bedroom unit and one 2‑bedroom unit
- Two commercial spaces include a pharmacy and an office
- 2,640 SF property on a 22.42 x 44.17‑foot lot
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
$72,278
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
3.14%
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%
$1,445,560
$1.4M
Cap Rate 7%
$1,032,543
$1.0M
Cap Rate 9%
$803,089
$803.1K
Market Conditions
NOI Build-Up for 2,640 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
$123.6K $46.80/SF
− Vacancy
−$27.2K −$10.30/SF
EGI
$96.4K $36.50/SF
− OpEx
−$24.1K −$9.13/SF
NOI
$72.3K $27.38/SF
Area
ZIP 11219
Vacancy
22.00%
Lease Rate
$46.80 /SF/Yr
Expense Ratio
25.00%
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%
$1,445,560
Cap Rate 7%
$1,032,543
Cap Rate 9%
$803,089
Alternative Uses
Best Use
Office B
$1.03M
$903.5K – $1.20M
NOI $72,278 @ 7.0% cap · market cap 3.14%
Second Best
Apartment 5plus
$977.7K
$855.5K – $1.14M
NOI $68,438 @ 7.0% cap · market cap 2.98%
Theoretical Best
Office A
$1.71M
$1.50M – $2.00M
NOI $119,801 @ 7.0% cap · market cap 5.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,063
Businesses Nearby
Explore this area
Business Placement
Demographics for 11219, NY
103,447
Population
27,973
Households
3.7
Avg Household Size
27
Median Age
21%
College-Educated
70%
High-School Grad
1.5 sq mi
ZIP Area
68,965
Density / Sq Mi
$55,685
Median Household Income
$30,647
Median Earnings
$1,678
Median Rent
$1,086,000
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Brick property combines two apartments with pharmacy and office space in a semi-attached corner configuration.
Where is this mixed-use property located?
The property is located at 5602 New Utrecht Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Two apartments: one 3‑bedroom unit and one 2‑bedroom unit; Two commercial spaces include a pharmacy and an office; 2,640 SF property on a 22.42 x 44.17‑foot lot
