Vacant Four-Family Mixed-Use
For Sale
$2,699,999
773 Park Avenue Brooklyn, Ny, NY 11206
The property combines residential apartments with a dedicated storefront and will be delivered vacant.
Property Size2,500 SF
Price / SF$1,079
Days on Market54
Property Features for 773 Park Avenue Brooklyn
General Information
Standard status
Active
Size
2,500 SF
Taxes and HOA fees
Annual Taxes
$5,649
Amenities
No
Building Details
Year Built
1931
Tenancy
Multi
Listing Agency:
(845) 765-6128
Listed By:
Jennifer DiCostanzo
(845) 765-6128
Source:
Town-and-country-fishkill-ny.remax
Added: Jul 8
Changed: Aug 29
Last Checked: Aug 29 at 5:05PM
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 Jennifer DiCostanzo
Investment Insights
Based on property information with market context.
This mixed-use building contains four residential apartments together with a storefront component. The property is currently vacant and is scheduled for delivery without occupants, allowing the next owner to take control of the full building at closing.
All four apartments are described as free-market units. Built in 1931, the property is located at 773 Park Avenue in Brooklyn, New York 11206.
All four apartments are described as free-market units. Built in 1931, the property is located at 773 Park Avenue in Brooklyn, New York 11206.
Key Highlights
- Four residential apartments within a mixed‑use building
- Storefront component included with the residential units
- Delivered vacant for immediate owner control
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
$84,609
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
3.13%
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%
$1,692,180
$1.7M
Cap Rate 7%
$1,208,700
$1.2M
Cap Rate 9%
$940,100
$940.1K
Market Conditions
NOI Build-Up for 2,500 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
$127.5K $51.00/SF
− Vacancy
−$6.6K −$2.65/SF
EGI
$120.9K $48.35/SF
− OpEx
−$36.3K −$14.50/SF
NOI
$84.6K $33.84/SF
Area
New York, NY
Vacancy
5.20%
Lease Rate
$51.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,692,180
Cap Rate 7%
$1,208,700
Cap Rate 9%
$940,100
Alternative Uses
Best Use
Retail
$5.03M
$4.40M – $5.86M
NOI $351,811 @ 7.0% cap · market cap 13.03%
Second Best
Multifamily LT 5
$1.21M
$1.06M – $1.41M
NOI $84,609 @ 7.0% cap · market cap 3.13%
Theoretical Best
Specialty Retail
$6.22M
$5.45M – $7.26M
NOI $435,600 @ 7.0% cap · market cap 16.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
6,115
Businesses Nearby
Explore this area
Business Placement
Demographics for 11206, NY
91,549
Population
34,838
Households
2.6
Avg Household Size
30
Median Age
36%
College-Educated
77%
High-School Grad
1.4 sq mi
ZIP Area
65,392
Density / Sq Mi
$57,280
Median Household Income
$44,145
Median Earnings
$1,558
Median Rent
$822,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - The property combines residential apartments with a dedicated storefront and will be delivered vacant.
Where is this mixed-use property located?
The property is located at 773 Park Avenue Brooklyn Ny, NY.
What is the asking price?
The asking price for this property is $2,699,999.
What are key features of this property?
This property features: Four residential apartments within a mixed‑use building; Storefront component included with the residential units; Delivered vacant for immediate owner control
