Nostrand Avenue Mixed-Use
For Sale
Contact for pricing
2022 Nostrand Ave, Brooklyn, NY 11210
New construction with 8 residential units and 1 commercial space.
Property Size6,000 SF
Price / SF$433.33
Days on Market687
Property Features for 2022 Nostrand Ave
General Information
Standard status
Active
Size
6,000 SF
Class
A
Property subtype
Mixed Use, Multifamily
Occupancy
100%
Net Operating Income
$230,000
Building Details
Year Renovated
2016
Units
9
Listing Agency:
ZUZ REALTY
Listed By:
David Nissanian · License #10311201336 NY
Source:
Crexi
Added: Nov 18, 2024
Changed: Sep 21
Last Checked: Oct 5 at 7:04PM
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 ZUZ REALTY
Investment Insights
Based on property information with market context.
This mixed-use property on Nostrand Avenue in Flatbush presents an investment opportunity. The brand new construction features 8 residential units and 1 commercial storefront. The building is fully occupied and each unit has separate utilities. The property benefits from a 9-year tax abatement, with current taxes at $1,274 per year. Financial highlights include a capitalization rate of 6% and a net operating income of $230,000.
Key Highlights
- High 6% Capitalization Rate (CAP) indicating strong investment return.
- Substantial Net Operating Income (NOI) of $230,000 providing significant cash flow.
- 9 Years Remaining on Tax Abatement resulting in very low annual taxes of $1,274.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$217,800
Cap Rate
8.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,356,000
$4.4M
Cap Rate 7%
$3,111,429
$3.1M
Cap Rate 9%
$2,420,000
$2.4M
Market Conditions
NOI Build-Up for 6,000 SF
Gross rent
$396.0K $66.00/SF
− Vacancy
−$47.5K −$7.92/SF
EGI
$348.5K $58.08/SF
− OpEx
−$130.7K −$21.78/SF
NOI
$217.8K $36.30/SF
Area
Brooklyn, NY
Vacancy
12.00%
Lease Rate
$66.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,356,000
Cap Rate 7%
$3,111,429
Cap Rate 9%
$2,420,000
Alternative Uses
Best Use
Mixed Use
$3.11M
$2.72M – $3.63M
NOI $217,800 @ 7.0% cap · market cap 8.38%
Second Best
Apartment 5plus
$2.62M
$2.29M – $3.05M
NOI $183,174 @ 7.0% cap · market cap 7.05%
Theoretical Best
Specialty Retail
$4.97M
$4.35M – $5.80M
NOI $347,760 @ 7.0% cap · market cap 13.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
3,773
Businesses Nearby
Explore this area
Business Placement
Demographics for 11210, NY
62,805
Population
22,817
Households
2.8
Avg Household Size
38
Median Age
39%
College-Educated
89%
High-School Grad
1.6 sq mi
ZIP Area
39,253
Density / Sq Mi
$83,261
Median Household Income
$50,286
Median Earnings
$1,734
Median Rent
$817,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - New construction with 8 residential units and 1 commercial space.
Where is this mixed-use property located?
The property is located at 2022 Nostrand Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: High 6% Capitalization Rate (CAP) indicating strong investment return.; Substantial Net Operating Income (NOI) of $230,000 providing significant cash flow.; 9 Years Remaining on Tax Abatement resulting in very low annual taxes of $1,274.
