Corner Mixed-Use Retail and
For Sale
$5,900,000
6823 5th Ave, Brooklyn, NY 11220
Corner property with two retail units and two full office floors, plus a legal basement and elevator access.
Property Size11,479 SF
Lot Size0.07 Acres
Price / SF$513.98
Days on Market82
Property Features for 6823 5th Ave
General Information
Standard status
Active
Size
11,479 SF
Lot size
0.07 Acres
Property subtype
Mixed-Use
Zoning
R6B, C1-3
Additional Details
Office Units
18
Amenities
Total Space: 11,500 sq. ft. across two retail units and two floors of office Corner elevator mixed-use value add opportunity. Contains a legal selling basement with elevator access.
Unit Breakdown: 5,493 sq. ft. of retail space and 5,986 sq. ft. of office space.
Zoning: R6B, C1-3, providing versatile flexibility for commercial and potential residential conversions.
The top two floors have historically been used as office spaces. Currently the floors are divided into 9 individual offices each. Each floor contans two bathrooms, large eat-in kitchen and reception area.
Building Details
Building Size
11,479 SF
Year Built
1920
Listed By:
Said Boukhalfa · License #License(s): NY: 30BO1115908
(212) 430-5149
Source:
Marcusmillichap
Added: Jun 17
Changed: Sep 3
Last Checked: Sep 6 at 3:58AM
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 Said Boukhalfa
Investment Insights
Based on property information with market context.
6823 5th Avenue is a corner mixed-use building with two retail units and two full office floors. The upper levels include 18 offices, a reception area, a kitchen, and elevator access. A legal basement with high ceilings provides additional space of approximately 3,000 square feet, not included in the stated office and retail totals.
The property is located in Bay Ridge along a busy retail corridor and is about one block from the Bay Ridge Avenue R subway station. It is zoned R6B and C1-3.
Offered 100% vacant, the building is designed to support a variety of office and retail uses and may be well suited for owner-users, investors, or redevelopment strategies within the parameters of its zoning.
The property is located in Bay Ridge along a busy retail corridor and is about one block from the Bay Ridge Avenue R subway station. It is zoned R6B and C1-3.
Offered 100% vacant, the building is designed to support a variety of office and retail uses and may be well suited for owner-users, investors, or redevelopment strategies within the parameters of its zoning.
Key Highlights
- Corner mixed‑use building with 2 retail units and 2 full office floors
- Approximately 8,979 SF total with about 6,000 SF office and 3,000 SF retail
- Upper floors include 18 offices plus reception, kitchen, and elevator access
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
$342,786
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
5.81%
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%
$6,855,720
$6.9M
Cap Rate 7%
$4,896,943
$4.9M
Cap Rate 9%
$3,808,733
$3.8M
Market Conditions
NOI Build-Up for 11,479 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
$578.5K $50.40/SF
− Vacancy
−$121.5K −$10.58/SF
EGI
$457.0K $39.82/SF
− OpEx
−$114.3K −$9.95/SF
NOI
$342.8K $29.86/SF
Area
ZIP 11220
Vacancy
21.00%
Lease Rate
$50.40 /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%
$6,855,720
Cap Rate 7%
$4,896,943
Cap Rate 9%
$3,808,733
Alternative Uses
Best Use
Office B
$4.90M
$4.28M – $5.71M
NOI $342,786 @ 7.0% cap · market cap 5.81%
Second Best
Retail
$4.33M
$3.79M – $5.05M
NOI $303,059 @ 7.0% cap · market cap 5.14%
Theoretical Best
Office A
$7.44M
$6.51M – $8.68M
NOI $520,908 @ 7.0% cap · market cap 8.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
18
Office units
Location Intelligence
Trade Area within ½ mile
5,279
Businesses Nearby
Under-served
Demand for This Use
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Outdoor Plants NYC — 7811 3rd Ave #763, Brooklyn, NY 11209
- 2 corazones flower shop — 514 77th St, Brooklyn, NY 11209
- Enchanted Florist — 7515 5th Ave, Brooklyn, NY 11209
- House Of Green — 7118 Fort Hamilton Pkwy, Brooklyn, NY 11228
- Parkway Flower Shop — 6916 fort hamilton pkwy, brooklyn, ny 11228
Frequently Asked Questions
What type of property is this?
Storefront property - Corner property with two retail units and two full office floors, plus a legal basement and elevator access.
Where is this storefront property located?
The property is located at 6823 5th Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $5,900,000.
What are key features of this property?
This property features: Corner mixed‑use building with 2 retail units and 2 full office floors; Approximately 8,979 SF total with about 6,000 SF office and 3,000 SF retail; Upper floors include 18 offices plus reception, kitchen, and elevator access
