Four-Story Mixed-Use
For Sale
Contact for pricing
84 Hoyt Street, Brooklyn, NY 11201
Mixed-use property combining ground-floor retail with three residential apartments in Boerum Hill.
Property Size2,200 SF
Price / SF$1,272
Days on Market150
Property Features for 84 Hoyt Street
General Information
Standard status
Active
Size
2,200 SF
Property subtype
Retail, Multifamily, Mixed Use
Zoning
R7A, C2-4
Occupancy
75%
Net Operating Income
$186,401
Building Details
Year Built
1899
Buildings
1
Stories
3
Units
3
Tenancy
Multi
Listing Agency:
GFI Realty Services LLC
Listed By:
Traci-lea Dixon · License #NY 10491205528
Source:
Crexi
Added: Apr 10
Changed: Aug 30
Last Checked: Sep 1 at 9:32PM
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 GFI Realty Services LLC
Investment Insights
Based on property information with market context.
This four-story mixed-use building combines a street-level retail premises with three apartments above. The residential layout includes one one-bedroom apartment and two two-bedroom apartments. The property contains approximately 3,200 SF and offers approximately 2,800 SF of additional air rights. The second-floor apartment is identified for vacant delivery, while the upper residential leases expire in 2018 and 2017; the retail lease runs through March 2020 at market rent.
The building stands on Hoyt Street between Atlantic Avenue and State Street, near Atlantic Avenue’s retail corridor. Boerum Hill’s surrounding context includes local restaurants, boutiques, luxury rentals, and brownstones, with nearby access to Brooklyn Bridge Park, Barclays Center, and Atlantic Terminal. Ten subway lines serve the surrounding area, including routes providing access toward Manhattan.
The building stands on Hoyt Street between Atlantic Avenue and State Street, near Atlantic Avenue’s retail corridor. Boerum Hill’s surrounding context includes local restaurants, boutiques, luxury rentals, and brownstones, with nearby access to Brooklyn Bridge Park, Barclays Center, and Atlantic Terminal. Ten subway lines serve the surrounding area, including routes providing access toward Manhattan.
Key Highlights
- Approximately 3,200 SF mixed‑use building with approximately 2,800 SF of additional air rights
- Four‑story configuration with ground‑floor retail and three residential units
- Residential mix includes one one‑bedroom and two two‑bedroom apartments
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
$105,500
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
3.77%
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%
$2,110,000
$2.1M
Cap Rate 7%
$1,507,143
$1.5M
Cap Rate 9%
$1,172,222
$1.2M
Market Conditions
NOI Build-Up for 2,200 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
$171.1K $77.76/SF
− Vacancy
−$20.4K −$9.25/SF
EGI
$150.7K $68.51/SF
− OpEx
−$45.2K −$20.55/SF
NOI
$105.5K $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%
$2,110,000
Cap Rate 7%
$1,507,143
Cap Rate 9%
$1,172,222
Alternative Uses
Best Use
Retail
$1.51M
$1.32M – $1.76M
NOI $105,500 @ 7.0% cap · market cap 3.77%
Second Best
Mixed Use
$1.14M
$998.3K – $1.33M
NOI $79,860 @ 7.0% cap · market cap 2.85%
Theoretical Best
Specialty Retail
$1.82M
$1.59M – $2.13M
NOI $127,512 @ 7.0% cap · market cap 4.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
13,903
Businesses Nearby
Explore this area
Business Placement
Demographics for 11201, NY
69,703
Population
36,155
Households
1.9
Avg Household Size
35
Median Age
79%
College-Educated
96%
High-School Grad
1.4 sq mi
ZIP Area
49,788
Density / Sq Mi
$169,285
Median Household Income
$113,681
Median Earnings
$3,207
Median Rent
$1,131,700
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 combining ground-floor retail with three residential apartments in Boerum Hill.
Where is this mixed-use property located?
The property is located at 84 Hoyt Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: Approximately 3,200 SF mixed‑use building with approximately 2,800 SF of additional air rights; Four‑story configuration with ground‑floor retail and three residential units; Residential mix includes one one‑bedroom and two two‑bedroom apartments
