Listing Agency: RE/MAX Real Estate Professiona

Listed By: Vito Angelo · License #VITLO524 Show Phone

Source: Prideestates

Added: Aug 29 Changed: Oct 5 Last Checked: Oct 16 at 8:19AM

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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.

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 / Yr

$241,691

Cap Rate

8.34%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,833,820 $4.8M

Cap Rate 7%

$3,452,729 $3.5M

Cap Rate 9%

$2,685,456 $2.7M

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,040 SF

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 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 (±1% cap)

NOI $241,691 @ 7.0% cap · market cap 8.34%

Second Best

Mixed Use

$2.61M

$2.29M – $3.05M (±1% cap)

NOI $182,952 @ 7.0% cap · market cap 6.31%

Theoretical Best

Specialty Retail

$4.17M

$3.65M – $4.87M (±1% cap)

NOI $292,118 @ 7.0% cap · market cap 10.08%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Vivid Nail & Spa ... Nail Salon

Suggested Use

Top Pick Law Firm Parking Lot & Garage Real Estate Agency Hotel & Motel Big Box & Wholesale Store HVAC Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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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