Mixed-Use Building in High-Traffic
For Sale
$929,000
9208 Avenue L, Brooklyn, NY 11236
Mixed-use building with apartments and storefront in Brooklyn.
Property Size972 SF
Lot Size0.04 Acres
Price / SF$955.76
Days on Market491
Property Features for 9208 Avenue L
General Information
Standard status
Active
Size
972 SF
Lot size
0.04 Acres
Taxes and HOA fees
Annual Taxes
$5,580
Listing Agency:
Chase Global Realty Corp
Listed By:
Chun P. Pak
(718) 355-8788
Source:
Exprealty
Added: May 7, 2025
Changed: Sep 8
Last Checked: Jul 15 at 11:47PM
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 Chase Global Realty Corp
Investment Insights
Based on property information with market context.
This mixed-use brick building features two apartments on the second floor and one store on the first floor. The property is located in a high foot traffic area of Brooklyn, specifically on Avenue L and E 92nd St, with convenient access to bus stations, schools, and various commercial stores. The lot measures 18 ft x 90.5 ft, while the building size is 18 ft x 54 ft. The zoning is R5D, C1-3. The building generates income with tenants. The cap rate is over 6.7%.
Key Highlights
- High foot traffic location on Avenue L and E 92nd St in Brooklyn.
- Good Cap Rate Over 6.7%.
- Mixed‑use building with two apartments and one store.
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
$46,612
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
5.02%
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%
$932,240
$932.2K
Cap Rate 7%
$665,886
$665.9K
Cap Rate 9%
$517,911
$517.9K
Market Conditions
NOI Build-Up for 972 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
$75.6K $77.76/SF
− Vacancy
−$9.0K −$9.25/SF
EGI
$66.6K $68.51/SF
− OpEx
−$20.0K −$20.55/SF
NOI
$46.6K $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%
$932,240
Cap Rate 7%
$665,886
Cap Rate 9%
$517,911
Alternative Uses
Best Use
Retail
$665.9K
$582.7K – $776.9K
NOI $46,612 @ 7.0% cap · market cap 5.02%
Second Best
Mixed Use
$504.1K
$441.1K – $588.1K
NOI $35,284 @ 7.0% cap · market cap 3.80%
Theoretical Best
Specialty Retail
$804.8K
$704.2K – $939.0K
NOI $56,337 @ 7.0% cap · market cap 6.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,699
Businesses Nearby
Explore this area
Business Placement
Demographics for 11236, NY
100,687
Population
37,002
Households
2.7
Avg Household Size
40
Median Age
28%
College-Educated
88%
High-School Grad
3.6 sq mi
ZIP Area
27,969
Density / Sq Mi
$82,813
Median Household Income
$50,244
Median Earnings
$1,637
Median Rent
$710,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use building with apartments and storefront in Brooklyn.
Where is this mixed-use property located?
The property is located at 9208 Avenue L Brooklyn, NY.
What is the asking price?
The asking price for this property is $929,000.
What are key features of this property?
This property features: High foot traffic location on Avenue L and E 92nd St in Brooklyn.; Good Cap Rate Over 6.7%.; Mixed‑use building with two apartments and one store.
