Brick Multifamily Building with Separate
For Sale
$1,950,000
126 Grove Street, Brooklyn, NY 11221
Residential Income, Brooklyn, NY
Property Size2,500 SF
Lot Size0.07 Acres
Price / SF$780
Days on Market146
Property Features for 126 Grove Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 5, Bedroom 6, Bedroom 2, Bedroom 4, Bathroom 1, Basement, Bathroom 4, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 3
Basement
Full
Elementary school district
Brooklyn 32
Middle school district
Brooklyn 32
High school district
Brooklyn 32
Standard status
Active
APN
03323-0022
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8024
Building Details
Year built
1996
Number of units
2
Building materials
Brick
Listing Agency:
Winzone Realty Inc
(718) 899-7000
Listed By:
Arthur Abramchaev
(917) 297-1868
Added: Mar 30
Changed: Aug 20
Last Checked: Aug 22 at 12:06AM
MLS# 978140
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.
Investment Insights
Based on property information with market context.
This brick multifamily building includes two residential units with separate entrances. The first-floor unit has its own private entrance and offers two bedrooms, including a bedroom with a convenient 1/2 bathroom. The second-floor unit also has a separate entrance and includes three bedrooms, with a 1/2 bathroom in the main bedroom.
The property sits on a 3,117 square foot lot and includes a partially finished basement with two separate entrances, providing options for storage or a recreational space. The building was constructed in 1996.
An approved plan is in place for 6 units plus 1 store condo, adding a clear development path for future use.
The property sits on a 3,117 square foot lot and includes a partially finished basement with two separate entrances, providing options for storage or a recreational space. The building was constructed in 1996.
An approved plan is in place for 6 units plus 1 store condo, adding a clear development path for future use.
Key Highlights
- Brick multifamily building with separate entrances for both units
- Partially finished basement with two separate entrances for flexible use
- Approved plan for 6 units plus 1 store condo
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
$87,554
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
4.49%
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%
$1,751,080
$1.8M
Cap Rate 7%
$1,250,771
$1.3M
Cap Rate 9%
$972,822
$972.8K
Market Conditions
NOI Build-Up for 2,500 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
$127.5K $51.00/SF
− Vacancy
−$2.4K −$0.97/SF
EGI
$125.1K $50.03/SF
− OpEx
−$37.5K −$15.01/SF
NOI
$87.6K $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%
$1,751,080
Cap Rate 7%
$1,250,771
Cap Rate 9%
$972,822
Alternative Uses
Best Use
Multifamily LT 5
$1.25M
$1.09M – $1.46M
NOI $87,554 @ 7.0% cap · market cap 4.49%
Second Best
Apartment 5plus
$1.09M
$954.0K – $1.27M
NOI $76,322 @ 7.0% cap · market cap 3.91%
Theoretical Best
Specialty Retail
$2.07M
$1.81M – $2.42M
NOI $144,900 @ 7.0% cap · market cap 7.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,613
Businesses Nearby
Explore this area
Business Placement
Demographics for 11221, NY
89,222
Population
38,690
Households
2.3
Avg Household Size
33
Median Age
42%
College-Educated
84%
High-School Grad
1.4 sq mi
ZIP Area
63,730
Density / Sq Mi
$85,122
Median Household Income
$49,202
Median Earnings
$2,055
Median Rent
$1,061,400
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?
Duplex - Brick multifamily building on a 3,117 SF lot, built in 1996, featuring separate entrances and a partially finished basement.
Where is this duplex located?
The property is located at 126 Grove Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Brick multifamily building with separate entrances for both units; Partially finished basement with two separate entrances for flexible use; Approved plan for 6 units plus 1 store condo
