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    Mixed-Use Building with Retail Storefront Title is generated by Realmo AI

    980 Sutter Avenue, Brooklyn, NY 11208

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    New
    For Sale
    $1,299,999

    MULTI_FAMILY - Brooklyn, NY

    Lot size:
    0.03 Acres
    Added:
    Jun 3, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 3 at 9:06 pm

    Property Features for 980 Sutter Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    6
    Bathrooms
    2
    Rooms
    Bedroom 6, Bedroom 5, Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 3, Basement, Bedroom 4
    Parking features
    On Street
    Standard status
    Active
    APN
    04050-0018
    Lot size
    0.03 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    3844

    Utilities

    Sewer type
    Public Sewer
    Cooling system
    Varies by Unit
    Water source
    Public

    Building Details

    Year built
    1925
    Number of units
    3
    Building materials
    Brick

    We can help!

    Listing Contact
    Jonathan Spindel

    Listing agent Jonathan Spindel License #10401300104

    Listing office RPB Realty 224 Franklin Ave Ste B9, Hewlett, NY

    Listing date Jun 3, 2026

    MLS# 873927 Listing URL

    Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Mixed‑use building with a vacant ground‑floor retail storefront and two apartments above (2‑family + 1 commercial).
    • Two updated 3‑bedroom apartments, currently rented.
    • Retail space is vacant and ready for a business or for lease.
    • Each unit has separate gas and electric meters, giving tenants control over utilities.
    • Brick construction; public water and public sewer.
    • On‑street parking and separate basement area.

    Overview

    This meticulously maintained mixed-use building combines a vacant ground-floor retail storefront with two well-maintained residential units above. The apartments have been tastefully updated with white shaker cabinetry, hardwood flooring, and modern tile bathrooms. Both residential units are currently rented, supporting immediate income, while the commercial space is ready for a business operation or can be leased to a new tenant. Each unit has separate gas and electric meters, giving occupants direct control of their utilities and helping simplify property management.

    Located in a highly accessible area, the property is positioned for strong visibility and convenient commuting. It is described as being just minutes from major public transportation options, helping make day-to-day access easier for residents and retail customers alike.

    For investors, the mix of in-place residential rental income and a currently vacant retail storefront offers a clear path to value through leasing, operational use, or a combination of both. For owner-users, the building supports a practical live-work setup with updated residential interiors and a dedicated commercial space at street level. The overall configuration is designed to be straightforward to manage, with modern finishes throughout and separate utility metering by unit.
    Property Profile Location Intelligence

    Current Use by Public Records

    ALLPRO Fire Extinguisher ... Production Facility

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.882446
    Latitude
    40.671108

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    FAQs

    What type of property is this?
    Duplex - Vacant ground-floor retail space paired with two updated, separately metered apartments for flexible income or live-work use.
    Where is this duplex located?
    The property is located at 980 Sutter Avenue Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $1,299,999.
    What are key features of this property?
    This property features: Mixed‑use building with a vacant ground‑floor retail storefront and two apartments above (2‑family + 1 commercial).; Two updated 3‑bedroom apartments, currently rented.; Retail space is vacant and ready for a business or for lease.
    (516) 927-7257
    We can help!
    Listing Contact
    Jonathan Spindel
    Real Estate License ID: 10401300104
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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