Brick Triplex with Detached
For Sale
$1,889,000
116 Bay 10th Street, Brooklyn, NY 11228
Residential, Duplex, Brooklyn, NY
Property Size2,000 SF
Lot Size0.05 Acres
Price / SF$944.50
Days on Market32
Property Features for 116 Bay 10th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R4
Bedrooms
7
Bathrooms
3
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 4, Bathroom 1, Bedroom 5, Bedroom 7, Bedroom 2, Bathroom 2, Bedroom 3, Bathroom 3, Bedroom 6
Parking features
Garage - Detached
Interior features
A/C Unit - Wall, A/C Unit - Window, Dishwasher, Refrigerator, Stove, Window Treatments
Subdivision
Bath Beach
Standard status
Active
Size
2,000 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
11139
Building Details
Year built
1940
Floors in Building
3
Number of units
3
Flooring type
Tile, Hardwood
Building materials
Brick
Roof type
Rubber, Flat
Architectural style
Other
Listing Agency:
Century 21 Realty First
(718) 758-5838
Listed By:
Karla Ng Mok · License #KNM9509
(718) 758-5838
Added: Jul 31
Changed: Aug 23
Last Checked: Aug 31 at 9:06AM
MLS# 503419
Copyright © 2026 Brooklyn New York Multiple Listing Service. 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.
This 1940 brick triplex is arranged as three residential apartments. The walk-in and first-floor residences each include two bedrooms, a living room, dining area, and kitchen, while the upper apartment provides three bedrooms along with its own living and dining areas and kitchen. The property includes a detached two-car garage accessed by a shared driveway, with hardwood and tile flooring, window or wall-unit air conditioning, and kitchen appliances including refrigerators, stoves, and dishwashers. The building is situated on a 24-by-96.67-foot lot and carries R4 zoning.
The property is near Dyker Beach Park, B1 bus stops, express buses to the city, and shopping and convenience stores around 86th Street. The recorded building size is 2,000 square feet.
The property is near Dyker Beach Park, B1 bus stops, express buses to the city, and shopping and convenience stores around 86th Street. The recorded building size is 2,000 square feet.
Key Highlights
- Three‑family brick property built in 1940
- Two two‑bedroom apartments plus one three‑bedroom apartment
- Detached two‑car garage with shared driveway
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
$70,043
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
3.71%
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%
$1,400,860
$1.4M
Cap Rate 7%
$1,000,614
$1.0M
Cap Rate 9%
$778,256
$778.3K
Market Conditions
NOI Build-Up for 2,000 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
$102.0K $51.00/SF
− Vacancy
−$1.9K −$0.97/SF
EGI
$100.1K $50.03/SF
− OpEx
−$30.0K −$15.01/SF
NOI
$70.0K $35.02/SF
Area
Brooklyn, NY
Vacancy
1.90%
Lease Rate
$51.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,400,860
Cap Rate 7%
$1,000,614
Cap Rate 9%
$778,256
Alternative Uses
Best Use
Multifamily LT 5
$1.00M
$875.5K – $1.17M
NOI $70,043 @ 7.0% cap · market cap 3.71%
Second Best
Apartment 5plus
$872.3K
$763.2K – $1.02M
NOI $61,058 @ 7.0% cap · market cap 3.23%
Theoretical Best
Specialty Retail
$1.66M
$1.45M – $1.93M
NOI $115,920 @ 7.0% cap · market cap 6.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,948
Businesses Nearby
Explore this area
Business Placement
Demographics for 11228, NY
45,906
Population
16,336
Households
2.8
Avg Household Size
41
Median Age
37%
College-Educated
80%
High-School Grad
1.5 sq mi
ZIP Area
30,604
Density / Sq Mi
$80,737
Median Household Income
$47,062
Median Earnings
$1,828
Median Rent
$1,131,700
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?
Triplex - Three-family brick residence with two-bedroom and three-bedroom apartments, shared driveway, and detached two-car garage.
Where is this triplex located?
The property is located at 116 Bay 10th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,889,000.
What are key features of this property?
This property features: Three‑family brick property built in 1940; Two two‑bedroom apartments plus one three‑bedroom apartment; Detached two‑car garage with shared driveway
