Mixed-Use Building with Pet
For Sale
$2,499,000
751 Franklin Avenue, Brooklyn, NY 11238
Ground floor and basement are occupied by a pet store, with two renovated one-bedroom apartments above.
Property Size2,688 SF
Price / SF$929.69
Days on Market138
Property Features for 751 Franklin Avenue
General Information
Standard status
Active
Size
2,688 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$2,190
Building Details
Building Size
2,688 SF
Year Built
1910
Listing Agency:
Nest Seekers LLC
Listed By:
Howard L Ramlal · License #40RA1043997
(917) 414-4896
Source:
Miradorrealestate
Added: Jun 8
Changed: Oct 20
Last Checked: Oct 21 at 2:34AM
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 Nest Seekers LLC
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Investment Insights
Based on property information with market context.
751 Franklin Avenue is a mixed-use building with retail space on the ground floor and in the basement, currently occupied by a pet store. The second and third floors feature two renovated one-bedroom apartments.
Both apartments are described as having hardwood floors, open kitchens with an island, stainless steel appliances, dishwashers, and in-unit full-size washer/dryer, along with split A/C units. The second-floor tenant has exclusive use of the deck and shared use of the garden/backyard, while the third-floor apartment is now vacant.
The property is positioned on Franklin Avenue close to Eastern Parkway and within a dense mix of neighborhood retail and dining options. Access is noted via buses and the No. 2, 3, 4, and 5 lines, as well as the Franklin Ave shuttle at the Franklin Avenue station, with nearby Grand Army Plaza farmer’s market, Prospect Park, the Brooklyn Museum, and the Brooklyn Botanic Garden. Showings are by appointment only, and additional financial information is available upon request.
Both apartments are described as having hardwood floors, open kitchens with an island, stainless steel appliances, dishwashers, and in-unit full-size washer/dryer, along with split A/C units. The second-floor tenant has exclusive use of the deck and shared use of the garden/backyard, while the third-floor apartment is now vacant.
The property is positioned on Franklin Avenue close to Eastern Parkway and within a dense mix of neighborhood retail and dining options. Access is noted via buses and the No. 2, 3, 4, and 5 lines, as well as the Franklin Ave shuttle at the Franklin Avenue station, with nearby Grand Army Plaza farmer’s market, Prospect Park, the Brooklyn Museum, and the Brooklyn Botanic Garden. Showings are by appointment only, and additional financial information is available upon request.
Key Highlights
- Mixed‑use building with ground floor and basement leased to a pet store, plus two 1‑bedroom apartments on the 2nd and 3rd floors
- Two renovated 1‑bedroom apartments feature hardwood floors, open kitchens with an island, stainless steel appliances, dishwashers, and split A/C units
- Units include in‑unit full size washer/dryer and lots of closet space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$128,902
Cap Rate
5.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,578,040
$2.6M
Cap Rate 7%
$1,841,457
$1.8M
Cap Rate 9%
$1,432,244
$1.4M
Market Conditions
NOI Build-Up for 2,688 SF
Gross rent
$209.0K $77.76/SF
− Vacancy
−$24.9K −$9.25/SF
EGI
$184.1K $68.51/SF
− OpEx
−$55.2K −$20.55/SF
NOI
$128.9K $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%
$2,578,040
Cap Rate 7%
$1,841,457
Cap Rate 9%
$1,432,244
Alternative Uses
Best Use
Retail
$1.84M
$1.61M – $2.15M
NOI $128,902 @ 7.0% cap · market cap 5.16%
Second Best
Multifamily LT 5
$1.34M
$1.18M – $1.57M
NOI $94,138 @ 7.0% cap · market cap 3.77%
Theoretical Best
Specialty Retail
$2.23M
$1.95M – $2.60M
NOI $155,796 @ 7.0% cap · market cap 6.23%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
5,644
Businesses Nearby
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Business Placement
Demographics for 11238, NY
60,090
Population
29,588
Households
2
Avg Household Size
35
Median Age
71%
College-Educated
93%
High-School Grad
1.8 sq mi
ZIP Area
33,383
Density / Sq Mi
$132,957
Median Household Income
$85,179
Median Earnings
$2,511
Median Rent
$1,146,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Ground floor and basement are occupied by a pet store, with two renovated one-bedroom apartments above.
Where is this duplex located?
The property is located at 751 Franklin Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,499,000.
What are key features of this property?
This property features: Mixed‑use building with ground floor and basement leased to a pet store, plus two 1‑bedroom apartments on the 2nd and 3rd floors; Two renovated 1‑bedroom apartments feature hardwood floors, open kitchens with an island, stainless steel appliances, dishwashers, and split A/C units; Units include in‑unit full size washer/dryer and lots of closet space
