Mixed-Use Property with
For Sale
$1,798,000
Pending
6118 5th Avenue, Brooklyn, NY 11220
Two three-bedroom apartments accompany a street-level commercial space.
Property Size2,970 SF
Days on Market210
Property Features for 6118 5th Avenue
General Information
Standard status
Pending
Size
2,970 SF
Property subtype
Mixed Use
Net Operating Income
$95,593
Taxes and HOA fees
Annual Taxes
$10,207
Amenities
110 V
Hardwood, Linoleum
3
Cellar
Stone
Brick
Intercom
Other
Building Details
Year Built
1925
Listing Agency:
RE/MAX Edge
Listed By:
Leonid Sklyar · License #skl439
(718) 612-3088
Source:
Compass
Added: Mar 23
Changed: Oct 4
Last Checked: Oct 16 at 11:32AM
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 Edge
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Investment Insights
Based on property information with market context.
This 2,970-square-foot mixed-use building combines a ground-floor retail area with two three-bedroom residential apartments. The apartments are currently occupied by the owners and are intended to be vacant at closing, while the commercial component has one year remaining on its lease. The property includes a cellar, brick construction, intercom service, and interiors finished with hardwood and linoleum flooring.
Built in 1925, the property is located at 6118 5th Avenue in Brooklyn’s Sunset Park. It sits near 8th Avenue Chinatown and schools, placing residential and commercial space within an established neighborhood setting. The configuration supports continued separation between the retail and residential components, subject to applicable requirements.
Built in 1925, the property is located at 6118 5th Avenue in Brooklyn’s Sunset Park. It sits near 8th Avenue Chinatown and schools, placing residential and commercial space within an established neighborhood setting. The configuration supports continued separation between the retail and residential components, subject to applicable requirements.
Key Highlights
- 2,970 SF mixed‑use building with retail and residential components
- Two three‑bedroom apartments delivered vacant at closing
- Ground‑floor retail space with one year remaining on the lease
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$88,431
Cap Rate
4.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,768,620
$1.8M
Cap Rate 7%
$1,263,300
$1.3M
Cap Rate 9%
$982,567
$982.6K
Market Conditions
NOI Build-Up for 2,970 SF
Gross rent
$131.9K $44.40/SF
− Vacancy
−$5.5K −$1.86/SF
EGI
$126.3K $42.54/SF
− OpEx
−$37.9K −$12.76/SF
NOI
$88.4K $29.77/SF
Area
ZIP 11220
Vacancy
4.20%
Lease Rate
$44.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,768,620
Cap Rate 7%
$1,263,300
Cap Rate 9%
$982,567
Alternative Uses
Best Use
Multifamily LT 5
$1.26M
$1.11M – $1.47M
NOI $88,431 @ 7.0% cap · market cap 4.92%
Second Best
Mixed Use
$1.17M
$1.02M – $1.37M
NOI $81,972 @ 7.0% cap · market cap 4.56%
Theoretical Best
Office A
$1.93M
$1.68M – $2.25M
NOI $134,776 @ 7.0% cap · market cap 7.50%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
6,453
Businesses Nearby
Explore this area
Business Placement
Demographics for 11220, NY
105,797
Population
30,897
Households
3.4
Avg Household Size
35
Median Age
25%
College-Educated
62%
High-School Grad
1.7 sq mi
ZIP Area
62,234
Density / Sq Mi
$64,201
Median Household Income
$31,489
Median Earnings
$1,688
Median Rent
$1,021,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two three-bedroom apartments accompany a street-level commercial space.
Where is this mixed-use property located?
The property is located at 6118 5th Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,798,000.
What are key features of this property?
This property features: 2,970 SF mixed‑use building with retail and residential components; Two three‑bedroom apartments delivered vacant at closing; Ground‑floor retail space with one year remaining on the lease
