Renovated Corner Mixed-Use
For Sale
Contact for pricing
9 Newport Street, Brooklyn, NY 11212
A renovated building combines leased neighborhood retail with free-market studio residences.
Property Size8,314 SF
Lot Size0.09 Acres
Price / SF$480
Days on Market104
Property Features for 9 Newport Street
General Information
Standard status
Active
Size
8,314 SF
Lot size
0.09 Acres
Property subtype
Mixed Use
Zoning
R6
Occupancy
91%
Investment Type
Stabilized
Net Operating Income
$365,558
Site & Location
Frontage
130 ft
Corner Location
Yes
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
7 x studio
Multifamily Units
7
Building Details
Year Built
1968
Year Renovated
2025
Buildings
1
Stories
2
Units
12
Tenancy
Multi
Listing Agency:
Realstreet Real Estate Group
Listed By:
Sully Klein · License #NY
Source:
Crexi
Added: Jul 7
Changed: Oct 1
Last Checked: Oct 16 at 9:28AM
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 Realstreet Real Estate Group
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This mixed-use property contains 12 units across approximately 8,314 square feet on a 0.09-acre corner lot. The layout includes five ground-floor commercial spaces and seven studio apartments, with the commercial portion fully renovated and leased. Six apartments are occupied, while one studio is available for lease-up. The property was built in 1968 and carries Tax Class 2B status, which limits annual assessment increases.
The building occupies the corner of Newport Street and East 98th Street in Brooklyn, with approximately 49 feet of Newport Street frontage and 130 feet of total wraparound frontage. Transit access includes the 3 train at Saratoga Avenue, two blocks away, along with access to the L train at New Lots Avenue. Zoning information is presented inconsistently in the source data and is therefore omitted.
The building occupies the corner of Newport Street and East 98th Street in Brooklyn, with approximately 49 feet of Newport Street frontage and 130 feet of total wraparound frontage. Transit access includes the 3 train at Saratoga Avenue, two blocks away, along with access to the L train at New Lots Avenue. Zoning information is presented inconsistently in the source data and is therefore omitted.
Key Highlights
- 12‑unit mixed‑use property with 5 commercial spaces and 7 studio apartments
- Approximately 8,314 square feet on a 0.09‑acre corner lot
- Commercial component fully renovated and 100% leased
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$301,798
Cap Rate
7.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,035,960
$6.0M
Cap Rate 7%
$4,311,400
$4.3M
Cap Rate 9%
$3,353,311
$3.4M
Market Conditions
NOI Build-Up for 8,314 SF
Gross rent
$548.7K $66.00/SF
− Vacancy
−$65.8K −$7.92/SF
EGI
$482.9K $58.08/SF
− OpEx
−$181.1K −$21.78/SF
NOI
$301.8K $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 Rate 5%
$6,035,960
Cap Rate 7%
$4,311,400
Cap Rate 9%
$3,353,311
Alternative Uses
Best Use
Retail
$5.70M
$4.98M – $6.64M
NOI $398,694 @ 7.0% cap · market cap 9.97%
Second Best
Mixed Use
$4.31M
$3.77M – $5.03M
NOI $301,798 @ 7.0% cap · market cap 7.55%
Theoretical Best
Specialty Retail
$6.88M
$6.02M – $8.03M
NOI $481,879 @ 7.0% cap · market cap 12.05%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
7
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,095
Businesses Nearby
Explore this area
Business Placement
Demographics for 11212, NY
91,574
Population
34,782
Households
2.6
Avg Household Size
36
Median Age
16%
College-Educated
78%
High-School Grad
1.5 sq mi
ZIP Area
61,049
Density / Sq Mi
$40,060
Median Household Income
$32,553
Median Earnings
$1,231
Median Rent
$549,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A renovated building combines leased neighborhood retail with free-market studio residences.
Where is this mixed-use property located?
The property is located at 9 Newport Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,999,000.
What are key features of this property?
This property features: 12‑unit mixed‑use property with 5 commercial spaces and 7 studio apartments; Approximately 8,314 square feet on a 0.09‑acre corner lot; Commercial component fully renovated and 100% leased
