Apartment Building with Ground-Floor
For Sale
$2,699,000
950 FLATBUSH AVE, Brooklyn, NY 11226
COMMERCIAL - BROOKLYN, NY
Property Size4,756 SF
Lot Size0.05 Acres
Price / SF$567.49
Days on Market101
Property Features for 950 FLATBUSH AVE
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 3, Bathroom 6, Bathroom 4, Bathroom 2, Bathroom 1, Bathroom 5
Security features
Security System
Subdivision
Flatbush
Standard status
Active
Size
4,756 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
37030
Utilities
Heating system
Electric (Heating)
Building Details
Year built
2026
Floors in Building
3
Flooring type
Tile, Hardwood
Building materials
Stucco, Brick
Listing Agency:
5 BORO REALTY CORP
(917) 705-0005
Listed By:
Nina Sabag · License #1020364
855-305-DEAL
Added: May 14
Changed: Aug 4
Last Checked: Aug 22 at 2:06AM
MLS# 11775350
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Under construction and scheduled for completion in 2026, this three-story apartment building combines residential units with a ground-floor retail component. The residential mix includes one studio garden apartment, three one-bedroom apartments, and one two-bedroom apartment. A full walk-out basement provides additional usable space, and the building is constructed with stucco and brick finishes. Interior finishes noted include hardwood and tile flooring, with electric heating.
The property is set on a 0.0519-acre lot and includes a building measuring 20' x 85', with a lot dimension of 20' x 113.67'. Zoning is listed as R7A / C4-4A (R7A Equivalent). The ground-floor retail space is leased to Carvel, with retail move-in scheduled for next month, supporting the mixed-use character of the asset.
With the residential unit mix and income-generating retail component, the project is positioned as a purpose-built mixed-use opportunity for tenants seeking both housing and neighborhood retail access.
The property is set on a 0.0519-acre lot and includes a building measuring 20' x 85', with a lot dimension of 20' x 113.67'. Zoning is listed as R7A / C4-4A (R7A Equivalent). The ground-floor retail space is leased to Carvel, with retail move-in scheduled for next month, supporting the mixed-use character of the asset.
With the residential unit mix and income-generating retail component, the project is positioned as a purpose-built mixed-use opportunity for tenants seeking both housing and neighborhood retail access.
Key Highlights
- Under construction for 2026 completion; three‑story apartment building
- Five residential units: one studio garden, three one‑bedrooms, one two‑bedroom
- Ground‑floor retail leased to Carvel; move‑in scheduled for next month
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
$111,496
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
4.13%
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%
$2,229,920
$2.2M
Cap Rate 7%
$1,592,800
$1.6M
Cap Rate 9%
$1,238,844
$1.2M
Market Conditions
NOI Build-Up for 4,756 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
$211.2K $44.40/SF
− Vacancy
−$8.4K −$1.78/SF
EGI
$202.7K $42.62/SF
− OpEx
−$91.2K −$19.18/SF
NOI
$111.5K $23.44/SF
Area
ZIP 11226
Vacancy
4.00%
Lease Rate
$44.40 /SF/Yr
Expense Ratio
45.00%
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%
$2,229,920
Cap Rate 7%
$1,592,800
Cap Rate 9%
$1,238,844
Alternative Uses
Best Use
Apartment 5plus
$1.59M
$1.39M – $1.86M
NOI $111,496 @ 7.0% cap · market cap 4.13%
Second Best
Mixed Use
$1.51M
$1.32M – $1.76M
NOI $105,583 @ 7.0% cap · market cap 3.91%
Theoretical Best
Office A
$2.35M
$2.06M – $2.74M
NOI $164,550 @ 7.0% cap · market cap 6.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
5,596
Businesses Nearby
Explore this area
Business Placement
Demographics for 11226, NY
101,727
Population
42,618
Households
2.4
Avg Household Size
37
Median Age
36%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
78,252
Density / Sq Mi
$81,084
Median Household Income
$49,892
Median Earnings
$1,751
Median Rent
$866,300
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?
Apartment building - Under-construction three-story apartment building with five residences and leased ground-floor retail, plus a full walk-out basement.
Where is this apartment building located?
The property is located at 950 FLATBUSH AVE Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,699,000.
What are key features of this property?
This property features: Under construction for 2026 completion; three‑story apartment building; Five residential units: one studio garden, three one‑bedrooms, one two‑bedroom; Ground‑floor retail leased to Carvel; move‑in scheduled for next month
