Listing Agency: Bergen Basin Realty LLC

Listed By: Jason Sciulara Show Phone

Source: Prideestates

Added: Jul 17 Changed: Oct 7 Last Checked: Oct 14 at 10:50PM

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Investment Insights

Based on property information with market context.

This brick mixed-use building is occupied by a retail tenant under a lease with 3.5 years remaining. The property is zoned C4-4 and R7A, with additional FAR supporting up to 8,380 total square feet. Upper-floor areas are identified for possible commercial storage, office, or residential use.

The property is positioned along Flatbush Avenue in Brooklyn’s Flatbush area, among national and regional retail operators including McDonald's, Capital One Bank, 5 Below, T-Mobile, and Old Navy Outlet. Public transportation access includes the B and Q trains at Church Avenue and Beverly Road, along with nearby B41, B35, and B49 bus stops.

Key Highlights

• Retail tenant in place with 3.5 years remaining on the lease
• C4‑4 and R7A zoning
• Additional FAR supports up to 8,380 total square feet

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$104,007

Cap Rate

5.47%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,080,140 $2.1M

Cap Rate 7%

$1,485,814 $1.5M

Cap Rate 9%

$1,155,633 $1.2M

Market Conditions

NOI Build-Up for 4,685 SF

Gross rent

$179.9K $38.40/SF

− Vacancy

−$13.5K −$2.88/SF

EGI

$166.4K $35.52/SF

− OpEx

−$62.4K −$13.32/SF

NOI

$104.0K $22.20/SF

Area

ZIP 11226

Vacancy

7.50%

Lease Rate

$38.40 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,080,140

Cap Rate 7%

$1,485,814

Cap Rate 9%

$1,155,633

Alternative Uses

Best Use

Mixed Use

$1.49M

$1.30M – $1.73M (±1% cap)

NOI $104,007 @ 7.0% cap · market cap 5.47%

Second Best

Retail

$1.44M

$1.26M – $1.68M (±1% cap)

NOI $100,825 @ 7.0% cap · market cap 5.31%

Theoretical Best

Office A

$2.32M

$2.03M – $2.70M (±1% cap)

NOI $162,094 @ 7.0% cap · market cap 8.53%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Storefront properties

Suggested Use

Top Pick Auto Parts Store Nursing Home Pet Grooming Service Adult Day Care Tanning Salon Clothing & Fashion Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

11,936

Businesses Nearby

138k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Hotels & Casinos 40% Apparel 27% Shops & Services 17% Electronics 6%

New York Marriott at the Brooklyn Bridge Hotels & Casinos

48,622 visits/mo 0.5 miles

Goodwill Apparel

18,116 visits/mo 0.3 miles

Mobil Shops & Services

10,567 visits/mo 0.3 miles

The UPS Store Shops & Services

9,497 visits/mo 0.4 miles

Bravo Supermarkets Groceries

7,424 visits/mo 0.4 miles

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 Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Brick property in a Brooklyn retail corridor with 3.5 years remaining on the current lease.

Where is this mixed-use property located?

The property is located at 967 Flatbush Avenue Brooklyn, NY.

What is the asking price?

The asking price for this property is $1,899,999.

What are key features of this property?

This property features: Retail tenant in place with 3.5 years remaining on the lease; C4‑4 and R7A zoning; Additional FAR supports up to 8,380 total square feet