Mixed-Use Building with
For Sale
Contact for pricing
577 Decatur St, Brooklyn, NY 11233
Two-unit, three-story corner building with stores and apartments.
Property Size3,600 SF
Price / SF$694.44
Days on Market1073
Property Features for 577 Decatur St
General Information
Standard status
Active
Size
3,600 SF
Class
B
Property subtype
Mixed Use
Zoning
R5B (1.35) Height Limit 33’
Occupancy
95%
Investment Type
Value Add
Net Operating Income
$154,552
Building Details
Year Built
1865
Buildings
1
Stories
3
Units
2
Listing Agency:
Brown Harris Stevens
Listed By:
Kervin Vales · License #109918089
(917) 564-5242
Source:
Crexi
Added: Nov 24, 2023
Changed: Oct 25
Last Checked: Oct 30 at 12:10PM
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 Brown Harris Stevens
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Investment Insights
Based on property information with market context.
This is a 20-foot wide, two-unit, three-story corner mixed-use building. The property features two stores on the first floor and two four-bedroom apartments above. A four-car garage is located at the back of the property. The apartments feature wood floors, good-sized closets, and ample sunlight. The units have 10-foot ceilings, and the electric and plumbing systems have been updated. The kitchens are equipped with stainless steel appliances and granite countertops. The full bathrooms feature modern tubs and toilets and are nicely tiled. Each unit also includes a washer and dryer. The property offers a prime investment opportunity. An investor can add value by renting out the garages or converting them into stores. The second-floor unit has access to the roof of the garages, which can be used as outdoor space. The property also presents a great user opportunity, where the corner stores can be used for business purposes, and the second-floor unit can be occupied. The third-floor apartment can be rented for income, along with the garages. The property benefits from residential exposure on Decatur Street and commercial exposure on Howard Avenue. The J train is located four blocks away on Chauncey Street and Broadway. The property size is 3,600 square feet.
Key Highlights
- Mixed‑use building with two stores and two four‑bedroom apartments offers diverse income streams.
- Four‑car garage presents immediate rental income potential.
- Updated electric and plumbing systems ensure modern functionality.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$172,637
Cap Rate
6.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,452,740
$3.5M
Cap Rate 7%
$2,466,243
$2.5M
Cap Rate 9%
$1,918,189
$1.9M
Market Conditions
NOI Build-Up for 3,600 SF
Gross rent
$279.9K $77.76/SF
− Vacancy
−$33.3K −$9.25/SF
EGI
$246.6K $68.51/SF
− OpEx
−$74.0K −$20.55/SF
NOI
$172.6K $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%
$3,452,740
Cap Rate 7%
$2,466,243
Cap Rate 9%
$1,918,189
Alternative Uses
Best Use
Retail
$2.47M
$2.16M – $2.88M
NOI $172,637 @ 7.0% cap · market cap 6.91%
Second Best
Mixed Use
$1.87M
$1.63M – $2.18M
NOI $130,680 @ 7.0% cap · market cap 5.23%
Theoretical Best
Specialty Retail
$2.98M
$2.61M – $3.48M
NOI $208,656 @ 7.0% cap · market cap 8.35%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,506
Businesses Nearby
219k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 55%
Shops & Services 28%
Groceries 14%
Electronics 2%
McDonald's
Dining
32,767 visits/mo
0.4 miles
McDonald's
Dining
27,191 visits/mo
0.4 miles
Dunkin' Donuts
Dining
23,220 visits/mo
0.3 miles
Sunoco
Shops & Services
18,475 visits/mo
0.5 miles
Family Dollar
Shops & Services
16,102 visits/mo
0.5 miles
Demographics for 11233, NY
75,399
Population
34,412
Households
2.2
Avg Household Size
35
Median Age
33%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
57,999
Density / Sq Mi
$62,034
Median Household Income
$47,149
Median Earnings
$1,613
Median Rent
$1,013,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-unit, three-story corner building with stores and apartments.
Where is this mixed-use property located?
The property is located at 577 Decatur St Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Mixed‑use building with two stores and two four‑bedroom apartments offers diverse income streams.; Four‑car garage presents immediate rental income potential.; Updated electric and plumbing systems ensure modern functionality.
