Three-Story Mixed-Use
For Sale
$1,850,000
8310 3rd Avenue, Brooklyn, NY 11209
Renovated in 2004 with C2-3 zoning and neighborhood access to transportation, shopping, and dining.
Property Size2,925 SF
Lot Size0.04 Acres
Price / SF$632.48
Days on Market72
Property Features for 8310 3rd Avenue
General Information
Standard status
Active
Size
2,925 SF
Lot size
0.04 Acres
Property subtype
Commercial
Zoning
C2-3
Taxes and HOA fees
Annual Taxes
$10,345
Building Details
Building Size
2,925 SF
Year Built
1905
Year Renovated
2004
Buildings
1
Stories
3
Listing Agency:
E Realty International Corp
(646) 688-8998
Listed By:
Hsin Yuan Yang · License #10311205376
(646) 688-8998
Source:
Cornerstonemyhome
Added: Jun 18
Changed: Aug 27
Last Checked: Aug 27 at 10:51PM
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 E Realty International Corp
Investment Insights
Based on property information with market context.
This mixed-use property occupies a three-story building on a 20' x 90' lot and contains approximately 2,925 square feet. Constructed in 1905 and renovated in 2004, the building is located within an R6B / C2-3 zoning framework.
The property is situated at 8310 3rd Avenue in Bay Ridge, Brooklyn, near transportation, shopping, dining, and other neighborhood amenities. Its existing tenancy and mixed-use configuration provide an established operating profile for a commercial property owner.
The property is situated at 8310 3rd Avenue in Bay Ridge, Brooklyn, near transportation, shopping, dining, and other neighborhood amenities. Its existing tenancy and mixed-use configuration provide an established operating profile for a commercial property owner.
Key Highlights
- Approximately 2,925 sq ft in a three‑story mixed‑use building
- 20' x 90' lot at 8310 3rd Avenue, Brooklyn, NY 11209
- R6B / C2‑3 zoning
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
$140,267
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
7.58%
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%
$2,805,340
$2.8M
Cap Rate 7%
$2,003,814
$2.0M
Cap Rate 9%
$1,558,522
$1.6M
Market Conditions
NOI Build-Up for 2,925 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
$227.4K $77.76/SF
− Vacancy
−$27.1K −$9.25/SF
EGI
$200.4K $68.51/SF
− OpEx
−$60.1K −$20.55/SF
NOI
$140.3K $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 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%
$2,805,340
Cap Rate 7%
$2,003,814
Cap Rate 9%
$1,558,522
Alternative Uses
Best Use
Retail
$2.00M
$1.75M – $2.34M
NOI $140,267 @ 7.0% cap · market cap 7.58%
Second Best
Mixed Use
$1.52M
$1.33M – $1.77M
NOI $106,178 @ 7.0% cap · market cap 5.74%
Theoretical Best
Specialty Retail
$2.42M
$2.12M – $2.83M
NOI $169,533 @ 7.0% cap · market cap 9.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,776
Businesses Nearby
261k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 33%
Shops & Services 32%
Groceries 17%
Apparel 7%
Super Foodtown
Groceries
31,460 visits/mo
0.4 miles
BP
Shops & Services
29,878 visits/mo
0.5 miles
Taco Bell
Dining
25,051 visits/mo
0.2 miles
Starbucks
Dining
15,586 visits/mo
0.4 miles
Starbucks
Dining
14,495 visits/mo
0.5 miles
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 Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Renovated in 2004 with C2-3 zoning and neighborhood access to transportation, shopping, and dining.
Where is this mixed-use property located?
The property is located at 8310 3rd Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Approximately 2,925 sq ft in a three‑story mixed‑use building; 20' x 90' lot at 8310 3rd Avenue, Brooklyn, NY 11209; R6B / C2‑3 zoning
