Mixed-Use Building with Restaurant
For Sale
$1,999,999
9218 4th Avenue, Brooklyn, NY 11209
Vacant commercial space anchors two residential apartments in a three-level building with separate heating and hot water systems.
Property Size3,805 SF
Days on Market34
Property Features for 9218 4th Avenue
General Information
Standard status
Active
Size
3,805 SF
Property subtype
Commercial Mixed Use
Zoning
R6A
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Additional Details
Equipment Included
Yes
Building Details
Building Size
3,805 SF
Year Built
1926
Buildings
1
Stories
3
Listing Agency:
Century 21 Realty First
(917) 708-9966
Listed By:
Xu (Susan) Chen
(917) 708-9966
Source:
Kirinny
Added: Jul 29
Changed: Aug 29
Last Checked: Aug 30 at 5:36PM
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 Century 21 Realty First
Investment Insights
Based on property information with market context.
This mixed-use building contains a vacant ground-floor commercial unit and two residential apartments above. The commercial space measures approximately 20×75 and includes existing restaurant equipment from its prior operation. It is delivered vacant and may accommodate restaurant or other business use subject to applicable approvals. Each upper-floor apartment provides three bedrooms and one bathroom, creating a clear separation between the commercial and residential components.
Three heating furnaces and three hot water tanks serve the property, allowing separate utilities for the commercial and residential units. The building was constructed in 1926 and is located near the R train, local bus routes, shopping, restaurants, schools, and major highways. The property is zoned R6A and occupies 9218 4th Avenue in Brooklyn, NY 11209.
Three heating furnaces and three hot water tanks serve the property, allowing separate utilities for the commercial and residential units. The building was constructed in 1926 and is located near the R train, local bus routes, shopping, restaurants, schools, and major highways. The property is zoned R6A and occupies 9218 4th Avenue in Brooklyn, NY 11209.
Key Highlights
- Vacant ground‑floor commercial unit with existing restaurant equipment
- Approximately 20×75 commercial layout
- Two 3‑bedroom, 1‑bathroom 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
$182,467
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
9.12%
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%
$3,649,340
$3.6M
Cap Rate 7%
$2,606,671
$2.6M
Cap Rate 9%
$2,027,411
$2.0M
Market Conditions
NOI Build-Up for 3,805 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
$295.9K $77.76/SF
− Vacancy
−$35.2K −$9.25/SF
EGI
$260.7K $68.51/SF
− OpEx
−$78.2K −$20.55/SF
NOI
$182.5K $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%
$3,649,340
Cap Rate 7%
$2,606,671
Cap Rate 9%
$2,027,411
Alternative Uses
Best Use
Specialty Retail
$3.15M
$2.76M – $3.68M
NOI $220,538 @ 7.0% cap · market cap 11.03%
Second Best
Retail
$2.61M
$2.28M – $3.04M
NOI $182,467 @ 7.0% cap · market cap 9.12%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,590
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Vacant commercial space anchors two residential apartments in a three-level building with separate heating and hot water systems.
Where is this mixed-use property located?
The property is located at 9218 4th Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,999,999.
What are key features of this property?
This property features: Vacant ground‑floor commercial unit with existing restaurant equipment; Approximately 20×75 commercial layout; Two 3‑bedroom, 1‑bathroom apartments
