Mixed-Use Building with Retail
For Sale
$2,199,000
967 Flatbush Avenue, Brooklyn, NY 11226
Brick property in a Brooklyn retail corridor with 3.5 years remaining on the current lease.
Property Size4,685 SF
Price / SF$469.37
Days on Market46
Property Features for 967 Flatbush Avenue
General Information
Standard status
Active
Size
4,685 SF
Property subtype
Mixed Use
Listing Agency:
Bergen Basin Realty LLC
(718) 763-4110
Listed By:
Jason Sciulara
(718) 763-4110
Source:
Prideestates
Added: Jul 17
Changed: Aug 29
Last Checked: Aug 30 at 5:27PM
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.
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.
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 = 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
$104,007
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
4.73%
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%
$2,080,140
$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
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
$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 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%
$2,080,140
Cap Rate 7%
$1,485,814
Cap Rate 9%
$1,155,633
Alternative Uses
Best Use
Mixed Use
$1.49M
$1.30M – $1.73M
NOI $104,007 @ 7.0% cap · market cap 4.73%
Second Best
Retail
$1.44M
$1.26M – $1.68M
NOI $100,825 @ 7.0% cap · market cap 4.59%
Theoretical Best
Office A
$2.32M
$2.03M – $2.70M
NOI $162,094 @ 7.0% cap · market cap 7.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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
Questions? Ask Rey
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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 $2,199,000.
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
