Corner Mixed-Use
661 Central Avenue Brooklyn, NY 11207
661 Central Avenue, Brooklyn, NY, 11207
$2,399,999
For Sale
$2,399,999
Corner mixed-use property with two commercial units and four residential units, offered for sale.
Property Size6,221 SF
Price / SF$385.79
Days on Market49
Property Features for 661 Central Avenue
General Information
- Standard status
- Active
- Size
- 6,221 SF
- Property subtype
- Mixed Use
Building Details
- Year Built
- 1906
Listing agency
eXp Realty BKNY
(888) 276-0630
Listed by
Luis E. Alvarez · License #LEA5598
(888) 276-0630
Source
Compass
Added: Jun 3 Updated: Jul 20 at 7:11PM Checked: Jul 21 at 6:18AM
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 eXp Realty BKNY
Investment Insights
Based on property information with market context.
661 Central Avenue is a corner mixed-use building featuring two commercial units and four residential units. The property is positioned as a free-market income opportunity with existing in-place cash flow, alongside potential for renovation and future reconfiguration.
The asset is located in Brooklyn near local retail corridors and neighborhood amenities, with convenient access to the Wilson Ave and Chauncey St subway stations.
With a total of six units across commercial and residential spaces, this property provides a straightforward mixed-use setup for investors seeking both current income and value-add flexibility.
The asset is located in Brooklyn near local retail corridors and neighborhood amenities, with convenient access to the Wilson Ave and Chauncey St subway stations.
With a total of six units across commercial and residential spaces, this property provides a straightforward mixed-use setup for investors seeking both current income and value-add flexibility.
Key Highlights
- Corner mixed‑use property with 2 commercial units and 4 residential units
- Brick construction with a 10 ft‑and‑under exterior door offering
- 1906 build with poured concrete foundation
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $317.3k | $51.00 |
| − Vacancy | −$6.0k | −$0.97 |
| EGI | $311.2k | $50.03 |
| − OpEx | −$93.4k | −$15.01 |
| NOI | $217.9k | $35.02 |
6,221 SF · lease $51.00/SF/yr · vacancy 1.90% · expense 30.00%
Alternative Uses
Best Use
Retail
$4.26M
$3.73M – $4.97M
NOI $298,326 @ 7.0% cap · market cap 12.43%
Second Best
Mixed Use
$3.23M
$2.82M – $3.76M
NOI $225,822 @ 7.0% cap · market cap 9.41%
Theoretical Best
Specialty Retail
$5.15M
$4.51M – $6.01M
NOI $360,569 @ 7.0% cap · market cap 15.02%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Corner mixed-use property with two commercial units and four residential units, offered for sale.
Where is this mixed-use property located?
The property is located at 661 Central Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,399,999.
What are key features of this property?
This property features: Corner mixed‑use property with 2 commercial units and 4 residential units; Brick construction with a 10 ft‑and‑under exterior door offering; 1906 build with poured concrete foundation
