Crown Heights Mixed-Use Corner
631 Franklin Avenue, Brooklyn, NY 11238
Three-story mixed-use property with commercial space, apartments, and garages.
Property size:
3,400 SFLot size:
0.04 AcresPrice / SF:
$617/SF- Added:
- Mar 24, 2026
- Days on Market:
- 60
- Last Refresh:
- Apr 5 at 10:22 pm
Property Features for 631 Franklin Avenue
General Information
- Standard status
- Active
- Size
- 3,400 SF
- Lot size
- 0.04 Acres
- Property subtype
- other
Building Details
- Year Built
- 1905
Listing agent Gamal Hasan
Listing office Bellmarc (718) 768-4500
Listing date Mar 24, 2026
Source Exitrealty
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 Bellmarc
HighLights
- Prime corner location at the intersection of Crown Heights and Prospect Heights
- Commercial space on the first level with high visibility
- Buildable air rights of 3,000 sq ft (subject to confirmation)
- Three garages included
- Two upper‑level rental apartments
- Full basement with high ceilings for storage or workshop
Overview
Located in the Crown Heights neighborhood of Brooklyn, this three-story mixed-use property includes a basement, a first-level commercial space, two upper rental apartments, and three garages. The property is positioned at the intersection of Crown Heights and Prospect Heights. The ground floor features a commercial area with visibility. The two apartments above offer living spaces for tenants. The property is situated on a 20' x 80' lot with R7A zoning, and it has approximately 3,000 square feet of buildable air rights, subject to confirmation. The full basement has high ceilings and provides storage or workshop space. The property is near dining and retail hubs along Franklin, Flatbush, Washington, and Vanderbilt Avenues. Residents and tenants have access to transportation with nearby train and bus services. The property is being offered subject to the existing tenancy on the first and second floors, with the top-floor apartment available for immediate occupancy. The property size is 3,400 square feet.
Financial Insights
Value Estimation Calculated for Retail
Conservative
$1.81M
NOI $163,046 @ 9.00% cap · cautious / downside scenario
Moderate
$2.33M
NOI $163,046 @ 7.00% cap · market / base-case scenario
Aggressive
$3.26M
NOI $163,046 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Retail
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $264.4k | $77.76 |
| − Vacancy | −$31.5k | −$9.25 |
| EGI | $232.9k | $68.51 |
| − OpEx | −$69.9k | −$20.55 |
| NOI | $163.0k | $47.95 |
3,400 SF · lease $77.76/SF/yr · vacancy 11.90% · expense 30.00%
Alternative Use Scenarios
Best Use
Retail
$2.33M
$2.04M – $2.72M
NOI $163,046 @ 7.0% cap · market cap 7.76%
Second Best
Mixed Use
$1.76M
$1.54M – $2.06M
NOI $123,420 @ 7.0% cap · market cap 5.88%
Theoretical Best
Specialty Retail
$2.82M
$2.46M – $3.28M
NOI $197,064 @ 7.0% cap · market cap 9.38%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Storefront properties
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.955393
- Latitude
- 40.677041
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Three-story mixed-use property with commercial space, apartments, and garages.
Where is this mixed-use property located?
The property is located at 631 Franklin Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Prime corner location at the intersection of Crown Heights and Prospect Heights; Commercial space on the first level with high visibility; Buildable air rights of 3,000 sq ft (subject to confirmation)
