Mixed-Use Five-Family
New
For Sale
$2,899,000
9307 3rd Avenue, Brooklyn, NY 11209
Five free-market apartments accompany a ground-floor commercial storefront with street-facing exposure.
Property Size5,040 SF
Price / SF$575.20
Days on Market3
Property Features for 9307 3rd Avenue
General Information
Standard status
Active
Size
5,040 SF
Property subtype
Mixed Use
Listing Agency:
RE/MAX Real Estate Professiona
(718) 532-2000
Listed By:
Vito Angelo · License #VITLO524
(718) 532-2000
Source:
Prideestates
Added: Aug 29
Changed: Aug 30
Last Checked: Aug 30 at 5:23PM
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 RE/MAX Real Estate Professiona
Investment Insights
Based on property information with market context.
This mixed-use property combines five free-market apartments with a ground-floor commercial store in a 5,040-square-foot building. The residential component includes four one-bedroom apartments and an additional one-bedroom apartment, while the storefront provides dedicated commercial space at street level.
Located at 9307 3rd Avenue in Brooklyn, the property is near major transportation options, shopping, dining, and neighborhood conveniences. Its residential and commercial components support a range of tenant profiles within an established Brooklyn community.
Located at 9307 3rd Avenue in Brooklyn, the property is near major transportation options, shopping, dining, and neighborhood conveniences. Its residential and commercial components support a range of tenant profiles within an established Brooklyn community.
Key Highlights
- 5,040‑square‑foot mixed‑use building
- Five free‑market apartments, including four one‑bedroom units and one additional one‑bedroom apartment
- Ground‑floor commercial store with strong visibility and street‑level exposure
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
$241,691
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
8.34%
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%
$4,833,820
$4.8M
Cap Rate 7%
$3,452,729
$3.5M
Cap Rate 9%
$2,685,456
$2.7M
Market Conditions
NOI Build-Up for 5,040 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
$391.9K $77.76/SF
− Vacancy
−$46.6K −$9.25/SF
EGI
$345.3K $68.51/SF
− OpEx
−$103.6K −$20.55/SF
NOI
$241.7K $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%
$4,833,820
Cap Rate 7%
$3,452,729
Cap Rate 9%
$2,685,456
Alternative Uses
Best Use
Retail
$3.45M
$3.02M – $4.03M
NOI $241,691 @ 7.0% cap · market cap 8.34%
Second Best
Mixed Use
$2.61M
$2.29M – $3.05M
NOI $182,952 @ 7.0% cap · market cap 6.31%
Theoretical Best
Specialty Retail
$4.17M
$3.65M – $4.87M
NOI $292,118 @ 7.0% cap · market cap 10.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Five free-market apartments accompany a ground-floor commercial storefront with street-facing exposure.
Where is this mixed-use property located?
The property is located at 9307 3rd Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,899,000.
What are key features of this property?
This property features: 5,040‑square‑foot mixed‑use building; Five free‑market apartments, including four one‑bedroom units and one additional one‑bedroom apartment; Ground‑floor commercial store with strong visibility and street‑level exposure
