4-Unit Mixed-Use
576 Ridgewood Avenue, Brooklyn, NY 11208
For Sale
$1,900,000
R5-zoned property combines apartments, ground-floor retail, and attached garage parking.
Property Size3,420 SF
Price / SF$555.56
Days on Market130
Property Features for 576 Ridgewood Avenue
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Site & Location
Public Transit
Utilities to Site
Mixed-Use Components
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Additional Details
Sprinkler System
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
security gates
Building Details
Building Size
Year Built
Buildings
Stories
Units
Tenancy
Listing Agency:
East Point Realty LLC
Listed By:
Daylan Bisram · License NY #10491210841
(347) 990-4911
Source:
Croninreale
Added: Jul 4
Changed: Nov 7
Last Checked: Nov 10 at 5:48PM
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 East Point Realty LLC
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Investment Insights
Based on property information with market context.
Built in 1920, the 3,420-square-foot property has three apartments, a ground-floor retail space, and three attached garage spaces. The apartment mix includes one three-bedroom and two one-bedroom units. Each unit has its own electric meter and boiler, and each apartment is equipped with a Navien tankless water heater. Building improvements include a sprinkler system, a steel staircase connecting the ground floor through the third floor, security gates, and recently installed gas meters and electric smart meters. The gas lines passed a NYC Buildings Department inspection this year.
The property is near major shopping centers and transit lines. It is zoned R5.
The property is near major shopping centers and transit lines. It is zoned R5.
Key Highlights
- 3,420‑square‑foot mixed‑use property built in 1920
- One three‑bedroom apartment, two one‑bedroom apartments, and a ground‑floor retail space
- Three attached garage spaces, each secured by a gate
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$78,171
Cap Rate
4.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,563,420
$1.6M
Cap Rate 7%
$1,116,729
$1.1M
Cap Rate 9%
$868,567
$868.6K
Market Conditions
NOI Build-Up for 3,420 SF
Gross rent
$147.7K $43.20/SF
− Vacancy
−$5.6K −$1.64/SF
EGI
$142.1K $41.56/SF
− OpEx
−$64.0K −$18.70/SF
NOI
$78.2K $22.86/SF
Area
ZIP 11208
Vacancy
3.80%
Lease Rate
$43.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,563,420
Cap Rate 7%
$1,116,729
Cap Rate 9%
$868,567
Alternative Uses
Best Use
Apartment 5plus
$1.12M
$977.1K – $1.30M
NOI $78,171 @ 7.0% cap · market cap 4.11%
Second Best
Mixed Use
$1.01M
$886.9K – $1.18M
NOI $70,948 @ 7.0% cap · market cap 3.73%
Theoretical Best
Office A
$2.09M
$1.83M – $2.44M
NOI $146,483 @ 7.0% cap · market cap 7.71%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Sprinkler system
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,984
Businesses Nearby
Explore this area
Business Placement
Demographics for 11208, NY
101,958
Population
37,261
Households
2.7
Avg Household Size
35
Median Age
16%
College-Educated
82%
High-School Grad
2.7 sq mi
ZIP Area
37,762
Density / Sq Mi
$59,988
Median Household Income
$40,156
Median Earnings
$1,563
Median Rent
$638,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Mixed-use properties in Brooklyn, NY
Properties on Market for Mixed-use properties in Brooklyn
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - R5-zoned property combines apartments, ground-floor retail, and attached garage parking.
Where is this mixed-use property located?
The property is located at 576 Ridgewood Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 3,420‑square‑foot mixed‑use property built in 1920; One three‑bedroom apartment, two one‑bedroom apartments, and a ground‑floor retail space; Three attached garage spaces, each secured by a gate
