Williamsburg Mixed-Use Building For
For Sale
$3,375,000
574 Metropolitan Avenue, Brooklyn, NY 11211
Mixed-use building in prime Williamsburg location with income potential.
Property Size3,380 SF
Lot Size0.04 Acres
Price / SF$998.52
Days on Market153
Property Features for 574 Metropolitan Avenue
General Information
Standard status
Active
Size
3,380 SF
Lot size
0.04 Acres
Property subtype
Mixed
Building Details
Year Built
1901
Listing Agency:
Williamsburg
(914) 804-7091
Listed By:
Chris Cavorti · License #10301206385
(914) 804-7091
Source:
Corcoran
Added: Mar 2
Changed: Jul 10
Last Checked: Aug 2 at 8:59AM
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 Williamsburg
Investment Insights
Based on property information with market context.
Located in the heart of Williamsburg, 574 Metropolitan Avenue is a mixed-use frame building offering scale and income potential. The property has approximately 3,840 gross building square feet on a 24.75 ft by 75.08 ft lot. Zoned R7A with a C2-4 commercial overlay, the asset benefits from a 4.0 FAR and approximately 3,592 square feet of remaining buildable area, allowing for a total buildable of 7,432 square feet. The building is configured as three residential rental units over a ground-floor and lower level retail space, consisting of a 4-bedroom, 1-bathroom unit over a 4-bedroom, 1-bathroom unit over a studio apartment, with a commercial retail storefront. The layout provides income-producing capability. Generous ceiling heights, multiple exposures, and frontage along Metropolitan Avenue create an adaptable foundation for renovation, modernization, or vertical expansion. Situated near the intersection of Metropolitan Avenue and Lorimer Street and moments from McCarren Park, 574 Metropolitan Avenue places occupants within reach of dining, retail, nightlife, and cultural destinations. Convenient access to the L and G subway lines provides connectivity to Manhattan and throughout Brooklyn. With annual real estate taxes of approximately $8,616, the property offers attractive carrying costs. Currently offered at a 5% Cap Rate.
Key Highlights
- Prime Williamsburg location on Metropolitan Avenue, near McCarren Park and major amenities.
- Significant development potential with R7A/C2‑4 zoning and approximately 3,592 SF of remaining buildable area.
- Mixed‑use building with three residential units and a ground‑floor retail space, providing diversified income streams.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $262.8k | $77.76 |
| − Vacancy | −$31.3k | −$9.25 |
| EGI | $231.6k | $68.51 |
| − OpEx | −$69.5k | −$20.55 |
| NOI | $162.1k | $47.95 |
3,380 SF · lease $77.76/SF/yr · vacancy 11.90% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.32M
$2.03M – $2.70M
NOI $162,087 @ 7.0% cap · market cap 4.80%
Second Best
Mixed Use
$1.75M
$1.53M – $2.04M
NOI $122,694 @ 7.0% cap · market cap 3.64%
Theoretical Best
Specialty Retail
$2.80M
$2.45M – $3.27M
NOI $195,905 @ 7.0% cap · market cap 5.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
8,468
Businesses Nearby
186k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 38%
Groceries 28%
Shops & Services 25%
Hotels & Casinos 5%
C-Town Supermarkets
Groceries
31,393 visits/mo
0.4 miles
Dunkin' Donuts
Dining
18,501 visits/mo
0.1 miles
Chase Bank
Shops & Services
17,187 visits/mo
0.4 miles
C-Town Supermarkets
Groceries
13,145 visits/mo
0.4 miles
BP
Shops & Services
12,903 visits/mo
0.5 miles
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
Market
Properties on Market for Mixed-use properties in Brooklyn
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use building in prime Williamsburg location with income potential.
Where is this mixed-use property located?
The property is located at 574 Metropolitan Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,375,000.
What are key features of this property?
This property features: Prime Williamsburg location on Metropolitan Avenue, near McCarren Park and major amenities.; Significant development potential with R7A/C2‑4 zoning and approximately 3,592 SF of remaining buildable area.; Mixed‑use building with three residential units and a ground‑floor retail space, providing diversified income streams.
