Mixed-Use Building For
For Sale
$1,200,000
Pending
603 New Lots Ave, Brooklyn, NY 11207
Mixed-use building with storefront and three residential units.
Property Size3,200 SF
Lot Size0.05 Acres
Days on Market268
Property Features for 603 New Lots Ave
General Information
Standard status
Pending
Size
3,200 SF
Lot size
0.05 Acres
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$4,653
Building Details
Building Size
3,200 SF
Stories
2
Listing Agency:
RE/MAX Real Estate Professiona
(718) 532-2000
Listed By:
Hugo Salazar · License #31SA1010105
(718) 532-2000
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 9
Last Checked: Aug 21 at 12:28PM
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 RE/MAX Real Estate Professiona
Investment Insights
Based on property information with market context.
This mixed-use property features a 3-family layout plus a street-level store. The brick building is currently vacant and will be delivered as such. The property is suitable for end-users, investors, and developers. It is located within easy reach of shopping centers, restaurants, public schools, and multiple transportation options, combining convenience with long-term growth potential.
Key Highlights
- Vacant 3‑family building with storefront: Ideal for immediate occupancy or customized renovation.
- Exceptional investment opportunity for end‑users, investors, and developers.
- Prime location: Enjoy easy access to shopping centers, restaurants, and public schools.
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
$97,693
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
8.14%
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%
$1,953,860
$2.0M
Cap Rate 7%
$1,395,614
$1.4M
Cap Rate 9%
$1,085,478
$1.1M
Market Conditions
NOI Build-Up for 3,200 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
$181.2K $56.64/SF
− Vacancy
−$3.6K −$1.13/SF
EGI
$177.6K $55.51/SF
− OpEx
−$79.9K −$24.98/SF
NOI
$97.7K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /SF/Yr
Expense Ratio
45.00%
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%
$1,953,860
Cap Rate 7%
$1,395,614
Cap Rate 9%
$1,085,478
Alternative Uses
Best Use
Retail
$2.19M
$1.92M – $2.56M
NOI $153,455 @ 7.0% cap · market cap 12.79%
Second Best
Mixed Use
$1.66M
$1.45M – $1.94M
NOI $116,160 @ 7.0% cap · market cap 9.68%
Theoretical Best
Specialty Retail
$2.65M
$2.32M – $3.09M
NOI $185,472 @ 7.0% cap · market cap 15.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,357
Businesses Nearby
228k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 61%
Shops & Services 24%
Groceries 13%
Electronics 1%
McDonald's
Dining
46,475 visits/mo
0.5 miles
Wendy's
Dining
32,914 visits/mo
0.5 miles
Farm Country Supermarkets
Groceries
20,457 visits/mo
0.2 miles
Dunkin' Donuts
Dining
16,528 visits/mo
0.4 miles
Chase Bank
Shops & Services
15,352 visits/mo
0.2 miles
Demographics for 11207, NY
100,330
Population
38,030
Households
2.6
Avg Household Size
35
Median Age
19%
College-Educated
81%
High-School Grad
2.7 sq mi
ZIP Area
37,159
Density / Sq Mi
$55,419
Median Household Income
$41,008
Median Earnings
$1,443
Median Rent
$657,400
Median Home Value
Market
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 with storefront and three residential units.
Where is this mixed-use property located?
The property is located at 603 New Lots Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Vacant 3‑family building with storefront: Ideal for immediate occupancy or customized renovation.; Exceptional investment opportunity for end‑users, investors, and developers.; Prime location: Enjoy easy access to shopping centers, restaurants, and public schools.
