Bay Ridge Mixed-Use Corner
For Sale
Contact for pricing
7823 5th Avenue, Brooklyn, NY 11209
Mixed-use property with 12 apartments and retail space.
Property Size3,563 SF
Price / SF$1,234
Days on Market175
Property Features for 7823 5th Avenue
General Information
Standard status
Active
Size
3,563 SF
Property subtype
Office
Building Details
Year Built
1925
Listing Agency:
Bella Realty Brooklyn
Listed By:
John Candela · License #10311206653
Source:
Crexi
Added: Feb 19
Changed: Aug 8
Last Checked: Aug 12 at 2:59PM
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 Bella Realty Brooklyn
Investment Insights
Based on property information with market context.
Located in the heart of Bay Ridge's established retail corridor, this mixed-use corner building offers an opportunity to acquire a well-located income property. The building features 12 residential apartments, including 8 one-bedroom and 4 two-bedroom units, situated above a ground-floor retail space of approximately 3,000 square feet. A full basement, also approximately 3,000 square feet, is included. The property benefits from prominent corner frontage, providing excellent visibility and exposure to high pedestrian and vehicle traffic. The property currently generates stable residential income. The commercial space has recently been vacated, allowing a new owner to lease at today's strong market rents and substantially increase NOI. This mixed-use asset delivers scale, visibility, and long-term value.
Key Highlights
- Prime Bay Ridge location in an established retail corridor.
- Mixed‑use building with 12 residential units and a large ground‑floor retail space.
- Significant upside potential through leasing the recently vacated commercial space at current market rates.
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
$129,337
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
2.94%
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%
$2,586,740
$2.6M
Cap Rate 7%
$1,847,671
$1.8M
Cap Rate 9%
$1,437,078
$1.4M
Market Conditions
NOI Build-Up for 3,563 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
$235.2K $66.00/SF
− Vacancy
−$28.2K −$7.92/SF
EGI
$206.9K $58.08/SF
− OpEx
−$77.6K −$21.78/SF
NOI
$129.3K $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%
$2,586,740
Cap Rate 7%
$1,847,671
Cap Rate 9%
$1,437,078
Alternative Uses
Best Use
Mixed Use
$1.85M
$1.62M – $2.16M
NOI $129,337 @ 7.0% cap · market cap 2.94%
Second Best
Apartment 5plus
$1.55M
$1.36M – $1.81M
NOI $108,775 @ 7.0% cap · market cap 2.47%
Theoretical Best
Specialty Retail
$2.95M
$2.58M – $3.44M
NOI $206,511 @ 7.0% cap · market cap 4.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,240
Businesses Nearby
Explore this area
Business Placement
Demographics for 11209, NY
73,239
Population
33,286
Households
2.2
Avg Household Size
40
Median Age
53%
College-Educated
90%
High-School Grad
2.1 sq mi
ZIP Area
34,876
Density / Sq Mi
$92,656
Median Household Income
$62,455
Median Earnings
$1,857
Median Rent
$905,700
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 - Mixed-use property with 12 apartments and retail space.
Where is this mixed-use property located?
The property is located at 7823 5th Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $4,399,999.
What are key features of this property?
This property features: Prime Bay Ridge location in an established retail corridor.; Mixed‑use building with 12 residential units and a large ground‑floor retail space.; Significant upside potential through leasing the recently vacated commercial space at current market rates.
