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    2022 Nostrand Ave Brooklyn, NY 11210

    Sponsored
    For Sale
    $3,795,000

    9 Units, 6% Cap Rate, High NOI

    Property size:
    6,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    394
    This exceptional Class A mixed-use property, located at 2022 Nostrand Avenue in Brooklyn's Flatbush neighborhood (zip code 11210), presents a compelling investment opportunity. The building boasts 6,000 square feet and comprises nine units: eight residential apartments and one commercial storefront. Constructed in 2016, this property is in brand new condition, offering minimal maintenance requirements. Currently operating at 100% occupancy, it generates a substantial net operating income (NOI) of $230,000, resulting in an attractive 6.06% capitalization rate. The asking price is $3,795,000. Significant tax advantages are available with nine years remaining on a tax abatement, keeping annual property taxes low at $1,274. Each unit features separate utilities. This turnkey investment offers a stable cash flow and strong potential for future appreciation in a desirable Brooklyn location. The property's excellent condition, high occupancy rate, and substantial NOI make it an ideal addition to any investor's portfolio.

    Property Features for 2022 Nostrand Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    6,000 SF
    Class
    A

    Building Details

    Year Renovated
    2016
    Units
    9

    HighLights

    • $3,795,000 asking price for this mixed‑use, multifamily investment opportunity.
    • Class A, 6,000 square foot building with 9 units (8 residential, 1 commercial).
    • Located at 2022 Nostrand Ave, Brooklyn, NY 11210.
    • 100% occupancy generating a $230,000 NOI and a 6.06% cap rate.
    • Renovated in 2016.
    Property Profile Location Intelligence

    Current Use by Public Records

    Nostrand Market Corp Deli

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.948389679661
    Latitude
    40.636237009158

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    FAQs

    What type of property is this?
    Multifamily property - 9 Units, 6% Cap Rate, High NOI
    Where is this multifamily property located?
    The property is located at 2022 Nostrand Ave Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $3,795,000.
    What are key features of this property?
    This property features: $3,795,000 asking price for this mixed-use, multifamily investment opportunity.; Class A, 6,000 square foot building with 9 units (8 residential, 1 commercial).; Located at 2022 Nostrand Ave, Brooklyn, NY 11210.
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    Brooklyn, NY 11210
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2022 Nostrand Ave Brooklyn, NY 11210
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