Renovated Mixed-Use
New
For Sale
$4,088,000
946 4th Avenue, Brooklyn, NY 11232
Renovated mixed-use property with retail, finished basement, and two apartments near subway service.
Property Size3,258 SF
Price / SF$1,254
Days on Market4
Property Features for 946 4th Avenue
General Information
Standard status
Active
Size
3,258 SF
Property subtype
Mixed Use
Net Operating Income
$237,561
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Gross Income
$265,740
Public Transit
Yes
Amenities
private rear terraces
sound proof windows
full kitchen
finished basement
foam insulated
train stop at location
Building Details
Year Renovated
2018
Buildings
1
Tenancy
Multi
Listing Agency:
Bergen Basin Realty LLC
Listed By:
Kevin Stile
(718) 763-4110
Source:
Prideestates
Added: Sep 19
Last Checked: Sep 21 at 6:05AM
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 Bergen Basin Realty LLC
Investment Insights
Based on property information with market context.
Renovated in 2018, this mixed-use building combines a ground-floor commercial unit with two two-bedroom apartments. The retail space includes a finished basement with high ceilings, a full kitchen, freezers, and a refrigerator. The commercial unit is served by two 7.5-ton AC units and one 5-ton unit, while the apartments have separate 4-ton and 3-ton AC systems. Full-building foam insulation and ongoing maintenance support the property's physical condition.
Each apartment includes one full bathroom, a private rear terrace, and soundproof windows. Tenants pay their own heat and electric. Subway service from the N and R trains is located at the property, with Industry City a few minutes away and two schools nearby. The location also benefits from pedestrian and vehicle activity. The building contains 3,258 square feet at 946 4th Avenue in Brooklyn, NY 11232.
Each apartment includes one full bathroom, a private rear terrace, and soundproof windows. Tenants pay their own heat and electric. Subway service from the N and R trains is located at the property, with Industry City a few minutes away and two schools nearby. The location also benefits from pedestrian and vehicle activity. The building contains 3,258 square feet at 946 4th Avenue in Brooklyn, NY 11232.
Key Highlights
- 2018 renovation with full‑building foam insulation
- Ground‑floor retail unit with finished basement, high ceilings, kitchen, freezers, and refrigerator
- Two 2‑bedroom apartments with private rear terraces and soundproof windows
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
$156,236
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
3.82%
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%
$3,124,720
$3.1M
Cap Rate 7%
$2,231,943
$2.2M
Cap Rate 9%
$1,735,956
$1.7M
Market Conditions
NOI Build-Up for 3,258 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
$253.3K $77.76/SF
− Vacancy
−$30.1K −$9.25/SF
EGI
$223.2K $68.51/SF
− OpEx
−$67.0K −$20.55/SF
NOI
$156.2K $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%
$3,124,720
Cap Rate 7%
$2,231,943
Cap Rate 9%
$1,735,956
Alternative Uses
Best Use
Retail
$2.23M
$1.95M – $2.60M
NOI $156,236 @ 7.0% cap · market cap 3.82%
Second Best
Mixed Use
$1.69M
$1.48M – $1.97M
NOI $118,265 @ 7.0% cap · market cap 2.89%
Theoretical Best
Specialty Retail
$2.70M
$2.36M – $3.15M
NOI $188,834 @ 7.0% cap · market cap 4.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,117
Businesses Nearby
482k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 63%
Dining 20%
Shops & Services 12%
Groceries 4%
Costco Wholesale
Superstores
303,066 visits/mo
0.2 miles
McDonald's
Dining
61,940 visits/mo
0.0 miles
Speedway
Shops & Services
17,683 visits/mo
0.3 miles
Dunkin' Donuts
Dining
17,346 visits/mo
0.1 miles
Key Food
Groceries
17,068 visits/mo
0.4 miles
Demographics for 11232, NY
30,181
Population
10,004
Households
3
Avg Household Size
35
Median Age
36%
College-Educated
69%
High-School Grad
1.2 sq mi
ZIP Area
25,151
Density / Sq Mi
$87,517
Median Household Income
$45,983
Median Earnings
$1,972
Median Rent
$782,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Renovated mixed-use property with retail, finished basement, and two apartments near subway service.
Where is this mixed-use property located?
The property is located at 946 4th Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $4,088,000.
What are key features of this property?
This property features: 2018 renovation with full‑building foam insulation; Ground‑floor retail unit with finished basement, high ceilings, kitchen, freezers, and refrigerator; Two 2‑bedroom apartments with private rear terraces and soundproof windows
