Mixed-Use Building with
New
For Sale
$1,699,000
6308 Bay Parkway, Brooklyn, NY 11204
Vacant delivery combines commercial space, a residential apartment, basement utility, and rear outdoor space.
Property Size3,240 SF
Price / SF$524.38
Days on Market7
Property Features for 6308 Bay Parkway
General Information
Standard status
Active
Size
3,240 SF
Property subtype
Mixed Use
Zoning
C2-3/r6a
Units
Unit Mix
1 x 3BR/2BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Building Details
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
RE/MAX Edge
(718) 612-3088
Listed By:
Jason Zhou · License #JZ1320
(718) 612-3088
Source:
Prideestates
Added: Aug 26
Changed: Aug 28
Last Checked: Aug 31 at 5:03PM
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
Investment Insights
Based on property information with market context.
This mixed-use building will be delivered vacant before closing and includes commercial, residential, and basement components. The ground-floor commercial area measures approximately 20' × 96' and features high ceilings, while the full basement includes a bathroom. Above, the second-floor apartment offers three bedrooms, two bathrooms, and a rear terrace measuring 30 feet in depth.
The property is located at 6308 Bay Parkway in Brooklyn, within a C2-3/R6A mixed-use zoning district. Approximately 6,000 buildable square feet are identified, subject to verification by the buyer’s architect. Shopping, restaurants, schools, and public transportation are located nearby.
The property is located at 6308 Bay Parkway in Brooklyn, within a C2-3/R6A mixed-use zoning district. Approximately 6,000 buildable square feet are identified, subject to verification by the buyer’s architect. Shopping, restaurants, schools, and public transportation are located nearby.
Key Highlights
- Ground‑floor commercial space measures approximately 20' × 96'
- Second‑floor apartment includes 3 bedrooms and 2 bathrooms
- 30‑foot rear terrace serves the second‑floor apartment
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
$117,612
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
6.92%
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%
$2,352,240
$2.4M
Cap Rate 7%
$1,680,171
$1.7M
Cap Rate 9%
$1,306,800
$1.3M
Market Conditions
NOI Build-Up for 3,240 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
$213.8K $66.00/SF
− Vacancy
−$25.7K −$7.92/SF
EGI
$188.2K $58.08/SF
− OpEx
−$70.6K −$21.78/SF
NOI
$117.6K $36.30/SF
Area
Brooklyn, NY
Vacancy
12.00%
Lease Rate
$66.00 /SF/Yr
Expense Ratio
37.50%
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%
$2,352,240
Cap Rate 7%
$1,680,171
Cap Rate 9%
$1,306,800
Alternative Uses
Best Use
Mixed Use
$1.68M
$1.47M – $1.96M
NOI $117,612 @ 7.0% cap · market cap 6.92%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.68M
$2.35M – $3.13M
NOI $187,790 @ 7.0% cap · market cap 11.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,510
Businesses Nearby
Explore this area
Business Placement
Demographics for 11204, NY
85,885
Population
27,498
Households
3.1
Avg Household Size
34
Median Age
30%
College-Educated
74%
High-School Grad
1.6 sq mi
ZIP Area
53,678
Density / Sq Mi
$67,588
Median Household Income
$33,461
Median Earnings
$1,751
Median Rent
$1,097,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Vacant delivery combines commercial space, a residential apartment, basement utility, and rear outdoor space.
Where is this mixed-use property located?
The property is located at 6308 Bay Parkway Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,699,000.
What are key features of this property?
This property features: Ground‑floor commercial space measures approximately 20' × 96'; Second‑floor apartment includes 3 bedrooms and 2 bathrooms; 30‑foot rear terrace serves the second‑floor apartment
