Building Details

Year Built 1931

Buildings 1

Stories 2

Construction brick

Tenancy Multi

Listing Agency: RE/MAX Edge

Listed By: Jason Zhou · License #jz1320 Show Phone

Source: Compass

Added: Mar 16 Changed: Oct 10 Last Checked: Oct 16 at 10:32AM

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Investment Insights

Based on property information with market context.

This brick mixed-use property at 7208 New Utrecht Avenue combines an operating hair salon on the first floor with a full bathroom and two two-bedroom apartments above. The building includes a finished full basement with a separate entrance, hardwood and tile finishes, poured-concrete construction, and 110 V and 220 V electrical service with circuit breakers. Constructed in 1931, the property contains approximately 2,200 square feet.

The first floor measures approximately 20×55 feet and includes a 16-foot rear sunroom. A rear deck of the same size extends above the sunroom at the upper level. The improvements sit on an oversized 22×116-foot lot in the Dyker Heights/Bensonhurst area of Brooklyn. The address is 7208 New Utrecht Avenue, Brooklyn, NY 11228.

Key Highlights

• Mixed‑use brick building with ground‑floor hair salon and two upstairs two‑bedroom apartments
• Approximately 2,200 square feet on an oversized 22×116‑foot lot
• First floor measures approximately 20×55 feet with an additional 16‑foot rear sunroom

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$105,500

Cap Rate

7.04%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,110,000 $2.1M

Cap Rate 7%

$1,507,143 $1.5M

Cap Rate 9%

$1,172,222 $1.2M

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,200 SF

Gross rent

$171.1K $77.76/SF

− Vacancy

−$20.4K −$9.25/SF

EGI

$150.7K $68.51/SF

− OpEx

−$45.2K −$20.55/SF

NOI

$105.5K $47.95/SF

Area

Brooklyn, NY

Vacancy

11.90%

Lease Rate

$77.76 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,110,000

Cap Rate 7%

$1,507,143

Cap Rate 9%

$1,172,222

Alternative Uses

Best Use

Retail

$1.51M

$1.32M – $1.76M (±1% cap)

NOI $105,500 @ 7.0% cap · market cap 7.04%

Second Best

Mixed Use

$1.14M

$998.3K – $1.33M (±1% cap)

NOI $79,860 @ 7.0% cap · market cap 5.33%

Theoretical Best

Specialty Retail

$1.82M

$1.59M – $2.13M (±1% cap)

NOI $127,512 @ 7.0% cap · market cap 8.51%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

BARBER SHOP / HAIR ... Barber Shop

Suggested Use

Top Pick Law Firm Real Estate Agency Parking Lot & Garage Hotel & Motel Bar & Pub Nursing Home

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

3,866

Businesses Nearby

Explore this area Business Placement

Demographics for 11228, NY

45,906

Population

16,336

Households

2.8

Avg Household Size

41

Median Age

37%

College-Educated

80%

High-School Grad

1.5 sq mi

ZIP Area

30,604

Density / Sq Mi

$80,737

Median Household Income

$47,062

Median Earnings

$1,828

Median Rent

$1,131,700

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Brick commercial property combines a ground-floor salon, two upstairs apartments, and finished lower-level space with its own entrance.

Where is this mixed-use property located?

The property is located at 7208 New Utrecht Avenue Brooklyn, NY.

What is the asking price?

The asking price for this property is $1,499,000.

What are key features of this property?

This property features: Mixed‑use brick building with ground‑floor hair salon and two upstairs two‑bedroom apartments; Approximately 2,200 square feet on an oversized 22×116‑foot lot; First floor measures approximately 20×55 feet with an additional 16‑foot rear sunroom