Three-Story Brick Mixed-Use
For Sale
$1,988,000
7724 13th Avenue, Brooklyn, NY 11228
Corner property combining five apartments, two storefronts, and a full basement in a brick building.
Property Size4,700 SF
Price / SF$422.98
Days on Market29
Property Features for 7724 13th Avenue
General Information
Standard status
Active
Size
4,700 SF
Property subtype
Mixed Use
Units
Unit Mix
4 x 2BR, 1 x 1BR
Multifamily Units
5
Additional Details
Corner Location
Yes
Building Details
Buildings
1
Stories
3
Construction
brick
Tenancy
Multi
Listing Agency:
RE/MAX Real Estate Professiona
(718) 532-2000
Listed By:
Billy Apter · License #BEA5721
(718) 532-2000
Source:
Prideestates
Added: Aug 3
Changed: Aug 29
Last Checked: Aug 30 at 5:47PM
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 Real Estate Professiona
Investment Insights
Based on property information with market context.
This three-story brick mixed-use property was built in 1931 and measures 20x90 building size. The layout includes five apartments and two commercial storefronts, with a corner retail space and a separate side store. Residential units comprise two two-bedroom apartments on the third floor, two additional two-bedroom apartments on the second floor, and a one-bedroom apartment at the walk-in level. A full-sized basement provides additional building space.
The property occupies a busy corner at 7724 13th Avenue in Brooklyn’s Dyker Heights neighborhood and is zoned R5B. The combination of residential units, street-level commercial space, and established neighborhood positioning supports a mixed-use ownership profile.
The property occupies a busy corner at 7724 13th Avenue in Brooklyn’s Dyker Heights neighborhood and is zoned R5B. The combination of residential units, street-level commercial space, and established neighborhood positioning supports a mixed-use ownership profile.
Key Highlights
- Five‑family, two‑store storefront configuration
- Three‑story brick building constructed in 1931
- 20x90 building size
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
$170,610
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
8.58%
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%
$3,412,200
$3.4M
Cap Rate 7%
$2,437,286
$2.4M
Cap Rate 9%
$1,895,667
$1.9M
Market Conditions
NOI Build-Up for 4,700 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
$310.2K $66.00/SF
− Vacancy
−$37.2K −$7.92/SF
EGI
$273.0K $58.08/SF
− OpEx
−$102.4K −$21.78/SF
NOI
$170.6K $36.30/SF
Area
Brooklyn, NY
Vacancy
12.00%
Lease Rate
$66.00 /SF/Yr
Expense Ratio
37.50%
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%
$3,412,200
Cap Rate 7%
$2,437,286
Cap Rate 9%
$1,895,667
Alternative Uses
Best Use
Retail
$3.22M
$2.82M – $3.76M
NOI $225,387 @ 7.0% cap · market cap 11.34%
Second Best
Mixed Use
$2.44M
$2.13M – $2.84M
NOI $170,610 @ 7.0% cap · market cap 8.58%
Theoretical Best
Specialty Retail
$3.89M
$3.41M – $4.54M
NOI $272,412 @ 7.0% cap · market cap 13.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,485
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Corner property combining five apartments, two storefronts, and a full basement in a brick building.
Where is this mixed-use property located?
The property is located at 7724 13th Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,988,000.
What are key features of this property?
This property features: Five‑family, two‑store storefront configuration; Three‑story brick building constructed in 1931; 20x90 building size
