Brick Mixed-Use
For Sale
$2,900,000
6604 18th Avenue, Brooklyn, NY 11204
Ground-floor pharmacy space is paired with two two-bedroom apartments in a move-in-ready configuration.
Property Size2,960 SF
Lot Size0.04 Acres
Days on Market180
Property Features for 6604 18th Avenue
General Information
Standard status
Active
Size
2,960 SF
Lot size
0.04 Acres
Property subtype
Commercial Mixed Use
Zoning
R5
Additional Details
Frontage
20 ft
Building Details
Building Size
2,960 SF
Year Built
1935
Buildings
1
Stories
2
Construction
brick
Listing Agency:
Re/Max Edge
(718) 612-3088
Listed By:
Jason Zhou · License #10301217017
(718) 612-3088
Source:
Kirinny
Added: Mar 4
Changed: Aug 28
Last Checked: Aug 28 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
Investment Insights
Based on property information with market context.
Built in 1935, this brick mixed-use property combines a pharmacy at street level with two upper-floor apartments, each offering two bedrooms. The building measures 20' x 84' and occupies a matching 20' x 84' lot. All three components are described as being in move-in condition, creating a straightforward combination of commercial and residential space.
The property is positioned along 18th Avenue’s commercial corridor in Bensonhurst, amid surrounding shops, restaurants, and public transportation. R5 zoning applies to the site. The address is 6604 18th Avenue, Brooklyn, NY 11204.
The property is positioned along 18th Avenue’s commercial corridor in Bensonhurst, amid surrounding shops, restaurants, and public transportation. R5 zoning applies to the site. The address is 6604 18th Avenue, Brooklyn, NY 11204.
Key Highlights
- Pharmacy occupies the ground floor
- Two two‑bedroom apartments above the commercial space
- 20' x 84' building on a full 20' x 84' lot
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
$171,562
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
5.92%
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%
$3,431,240
$3.4M
Cap Rate 7%
$2,450,886
$2.5M
Cap Rate 9%
$1,906,244
$1.9M
Market Conditions
NOI Build-Up for 2,960 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
$248.6K $84.00/SF
− Vacancy
−$19.9K −$6.72/SF
EGI
$228.7K $77.28/SF
− OpEx
−$57.2K −$19.32/SF
NOI
$171.6K $57.96/SF
Area
Brooklyn, NY
Vacancy
8.00%
Lease Rate
$84.00 /SF/Yr
Expense Ratio
25.00%
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%
$3,431,240
Cap Rate 7%
$2,450,886
Cap Rate 9%
$1,906,244
Alternative Uses
Best Use
Specialty Retail
$2.45M
$2.14M – $2.86M
NOI $171,562 @ 7.0% cap · market cap 5.92%
Second Best
Retail
$2.03M
$1.77M – $2.37M
NOI $141,946 @ 7.0% cap · market cap 4.89%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,303
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Ground-floor pharmacy space is paired with two two-bedroom apartments in a move-in-ready configuration.
Where is this mixed-use property located?
The property is located at 6604 18th Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: Pharmacy occupies the ground floor; Two two‑bedroom apartments above the commercial space; 20' x 84' building on a full 20' x 84' lot
