Detached Three-Family Home on Oversized
For Sale
$3,499,000
171 Girard St, Brooklyn, NY 11235
MULTI_FAMILY - Brooklyn, NY
Property Size4,112 SF
Lot Size0.18 Acres
Price / SF$850.92
Days on Market33
Property Features for 171 Girard St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
7
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 5, Bathroom 3, Bedroom 6, Bedroom 4, Bedroom 1, Bathroom 2, Bedroom 3, Bathroom 4, Bedroom 7, Laundry Room, Bathroom 5, Bedroom 2, Bathroom 1
Parking features
Driveway
Patio and Porch features
Porch, Deck
Interior features
Entrance Foyer, Master Downstairs
Fencing
Fenced
Fireplace
1
High school district
000000
Directions
Oriental Blve to Girard ST
Standard status
Active
APN
26-000.000-8750-375.000
Size
4,112 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Annual Amount
24118
Utilities
Heating system
Steam, Natural Gas, Zoned
Water source
Public
Amenities
outdoor terraces
wood-burning fireplaces
Building Details
Year built
1920
Floors in Building
3
Flooring type
Carpet, Hardwood
Building materials
Stucco
Roof type
Asphalt
Listing Agency:
BRIGHT HORIZONS REALTY INC
Listed By:
Katherine A. Pontone
Added: Jul 23
Changed: Aug 3
Last Checked: Aug 24 at 9:06PM
MLS# 11899820
Copyright © 2026 My State 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.
Detached legal three-family residence on an oversized 80' x 100' lot in Manhattan Beach, Brooklyn. The home offers approximately 4,112 square feet of living space with a total of 7 bedrooms and 4 full bathrooms plus one three-quarter bath. Interior features include hardwood floors, eat-in kitchens, a finished basement, and wood-burning fireplaces. Heating is gas with steam and zoned controls, and the home includes an updated 220-amp electrical service.
Outside, the property features outdoor terraces with a porch and deck, along with fencing. Parking is provided by a detached garage and a large private driveway.
Constructed in 1920 with stucco construction and an asphalt roof, this detached three-family is presented as a legal income-producing configuration, with the option to renovate while preserving the existing layout or reimagine the residence on an oversized parcel near the beach.
Outside, the property features outdoor terraces with a porch and deck, along with fencing. Parking is provided by a detached garage and a large private driveway.
Constructed in 1920 with stucco construction and an asphalt roof, this detached three-family is presented as a legal income-producing configuration, with the option to renovate while preserving the existing layout or reimagine the residence on an oversized parcel near the beach.
Key Highlights
- Oversized 80' x 100' lot with detached three‑family legal configuration
- Approximately 4,112 SF with 7 bedrooms and 4 full bathrooms plus one three‑quarter bath
- Wood‑burning fireplaces, hardwood floors, and finished basement
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
$144,009
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
4.12%
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%
$2,880,180
$2.9M
Cap Rate 7%
$2,057,271
$2.1M
Cap Rate 9%
$1,600,100
$1.6M
Market Conditions
NOI Build-Up for 4,112 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
$209.7K $51.00/SF
− Vacancy
−$4.0K −$0.97/SF
EGI
$205.7K $50.03/SF
− OpEx
−$61.7K −$15.01/SF
NOI
$144.0K $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%
$2,880,180
Cap Rate 7%
$2,057,271
Cap Rate 9%
$1,600,100
Alternative Uses
Best Use
Multifamily LT 5
$2.06M
$1.80M – $2.40M
NOI $144,009 @ 7.0% cap · market cap 4.12%
Second Best
Apartment 5plus
$1.79M
$1.57M – $2.09M
NOI $125,535 @ 7.0% cap · market cap 3.59%
Theoretical Best
Specialty Retail
$3.40M
$2.98M – $3.97M
NOI $238,332 @ 7.0% cap · market cap 6.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,476
Businesses Nearby
Explore this area
Business Placement
Demographics for 11235, NY
88,482
Population
37,188
Households
2.4
Avg Household Size
44
Median Age
50%
College-Educated
90%
High-School Grad
2.5 sq mi
ZIP Area
35,393
Density / Sq Mi
$61,689
Median Household Income
$48,898
Median Earnings
$1,649
Median Rent
$723,900
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 - Legal detached three-family with 7 bedrooms, finished basement, outdoor decks and porch, and zoned gas heat.
Where is this triplex located?
The property is located at 171 Girard St Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,499,000.
What are key features of this property?
This property features: Oversized 80' x 100' lot with detached three‑family legal configuration; Approximately 4,112 SF with 7 bedrooms and 4 full bathrooms plus one three‑quarter bath; Wood‑burning fireplaces, hardwood floors, and finished basement
