Mixed-Use Townhouse with Retail
For Sale
$2,700,000
598 PACIFIC Street, Brooklyn, NY 11217
Two-level vacant retail space is paired with an income-producing two-bedroom residential duplex.
Property Size2,400 SF
Price / SF$1,125
Days on Market150
Property Features for 598 PACIFIC Street
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Mixed Use
Additional Details
Gross Income
$36,000
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$5,268
Building Details
Building Size
2,400 SF
Year Built
1899
Buildings
1
Tenancy
Multi
Listing Agency:
Serhant
Listed By:
Nile Lundgren
(917) 453-4526
Source:
Carlinwright
Added: Apr 16
Changed: Sep 12
Last Checked: Sep 12 at 5:47AM
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 Serhant
Investment Insights
Based on property information with market context.
This mixed-use townhouse contains a vacant retail duplex with a sub-basement and a two-bedroom residential duplex. The commercial component spans two levels, while the residential portion provides in-place rental income. The property offers separate commercial and residential components within a single building, supporting retail or other commercial occupancy alongside housing.
Located directly across from Barclays Center, the property is positioned within the Pacific Park district and near Park Slope, Prospect Heights, and Downtown Brooklyn. Multiple subway lines provide access to surrounding Brooklyn hubs. The building contains approximately 2,400 square feet and was built in 1899.
Located directly across from Barclays Center, the property is positioned within the Pacific Park district and near Park Slope, Prospect Heights, and Downtown Brooklyn. Multiple subway lines provide access to surrounding Brooklyn hubs. The building contains approximately 2,400 square feet and was built in 1899.
Key Highlights
- Mixed‑use townhouse with approximately 2,400 square feet
- Vacant retail duplex with sub‑basement
- Two‑bedroom residential duplex generating rental income
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
$115,091
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
4.26%
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%
$2,301,820
$2.3M
Cap Rate 7%
$1,644,157
$1.6M
Cap Rate 9%
$1,278,789
$1.3M
Market Conditions
NOI Build-Up for 2,400 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
$186.6K $77.76/SF
− Vacancy
−$22.2K −$9.25/SF
EGI
$164.4K $68.51/SF
− OpEx
−$49.3K −$20.55/SF
NOI
$115.1K $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 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%
$2,301,820
Cap Rate 7%
$1,644,157
Cap Rate 9%
$1,278,789
Alternative Uses
Best Use
Retail
$1.64M
$1.44M – $1.92M
NOI $115,091 @ 7.0% cap · market cap 4.26%
Second Best
Mixed Use
$1.24M
$1.09M – $1.45M
NOI $87,120 @ 7.0% cap · market cap 3.23%
Theoretical Best
Specialty Retail
$1.99M
$1.74M – $2.32M
NOI $139,104 @ 7.0% cap · market cap 5.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
9,382
Businesses Nearby
161k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 58%
Shops & Services 32%
Home Improvements & Furnishings 5%
Hotels & Casinos 3%
Chick-fil-A
Dining
35,688 visits/mo
0.0 miles
Shell
Shops & Services
22,155 visits/mo
0.3 miles
Shake Shack
Dining
18,217 visits/mo
0.0 miles
TD Bank
Shops & Services
15,811 visits/mo
0.2 miles
Chipotle Mexican Grill
Dining
9,346 visits/mo
0.5 miles
Demographics for 11217, NY
42,417
Population
21,590
Households
2
Avg Household Size
36
Median Age
73%
College-Educated
93%
High-School Grad
0.7 sq mi
ZIP Area
60,596
Density / Sq Mi
$158,314
Median Household Income
$95,067
Median Earnings
$2,800
Median Rent
$1,614,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-level vacant retail space is paired with an income-producing two-bedroom residential duplex.
Where is this mixed-use property located?
The property is located at 598 PACIFIC Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: Mixed‑use townhouse with approximately 2,400 square feet; Vacant retail duplex with sub‑basement; Two‑bedroom residential duplex generating rental income
