Triplex with Retail
For Sale
$1,688,000
2254 65th Street, Brooklyn, NY 11204
MULTI_FAMILY - Brooklyn, NY
Property Size2,590 SF
Lot Size0.05 Acres
Price / SF$651.74
Days on Market16
Property Features for 2254 65th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bathroom 3, Bathroom 4, Bedroom 1, Bathroom 2, Bedroom 3, Bathroom 1
Subdivision
Bensonhurst
High school district
21
Standard status
Active
Size
2,590 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
13402
Building Details
Year built
1935
Floors in Building
3
Listing Agency:
COZY CORNER REALTY LLC
(917) 923-4038
Listed By:
Lorraine Digregorio
Added: Jul 28
Changed: Aug 3
Last Checked: Aug 12 at 11:06PM
MLS# 11906861
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.
This property is a three-family (triplex) plus one retail store building. All three residential units are currently vacant, giving flexibility for an owner-occupant or rental strategy. The commercial store is 14x30, with a tenant that has been there for 14 years; the store can be delivered vacant or the tenant can remain. The building footprint is 17.5x74 ft (2,590 SF) on a 20x100 ft (2,000 SF) lot, with a full basement that has access into the backyard.
The zoning is R6A / C2-3. The seller notes potential for redevelopment, with consult-your-architect guidance for up to 6,000 buildable square feet. The property is built in 1935 and is located in a busy business area on 65th Street in Bensonhurst, near Bay Parkway and minutes from the Belt Parkway.
Recent building systems updates include a hot water heater being replaced on August 10 and a 200,000 BTU boiler replaced in May 2025. The roof is reported to be in good condition.
The zoning is R6A / C2-3. The seller notes potential for redevelopment, with consult-your-architect guidance for up to 6,000 buildable square feet. The property is built in 1935 and is located in a busy business area on 65th Street in Bensonhurst, near Bay Parkway and minutes from the Belt Parkway.
Recent building systems updates include a hot water heater being replaced on August 10 and a 200,000 BTU boiler replaced in May 2025. The roof is reported to be in good condition.
Key Highlights
- All three residential units are vacant
- Retail store is 14x30 with a 14‑year tenant; can be delivered vacant
- Building size 17.5x74 ft (2,590 SF) on a 20x100 ft (2,000 SF) lot
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
$124,202
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
7.36%
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%
$2,484,040
$2.5M
Cap Rate 7%
$1,774,314
$1.8M
Cap Rate 9%
$1,380,022
$1.4M
Market Conditions
NOI Build-Up for 2,590 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
$201.4K $77.76/SF
− Vacancy
−$24.0K −$9.25/SF
EGI
$177.4K $68.51/SF
− OpEx
−$53.2K −$20.55/SF
NOI
$124.2K $47.95/SF
Area
Brooklyn, NY
Vacancy
11.90%
Lease Rate
$77.76 /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%
$2,484,040
Cap Rate 7%
$1,774,314
Cap Rate 9%
$1,380,022
Alternative Uses
Best Use
Retail
$1.77M
$1.55M – $2.07M
NOI $124,202 @ 7.0% cap · market cap 7.36%
Second Best
Multifamily LT 5
$1.30M
$1.13M – $1.51M
NOI $90,706 @ 7.0% cap · market cap 5.37%
Theoretical Best
Specialty Retail
$2.14M
$1.88M – $2.50M
NOI $150,116 @ 7.0% cap · market cap 8.89%
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
3,854
Businesses Nearby
Explore this area
Business Placement
Demographics for 11204, NY
85,885
Population
27,498
Households
3.1
Avg Household Size
34
Median Age
30%
College-Educated
74%
High-School Grad
1.6 sq mi
ZIP Area
53,678
Density / Sq Mi
$67,588
Median Household Income
$33,461
Median Earnings
$1,751
Median Rent
$1,097,200
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 residential units are vacant, with a long-term retail tenant option to stay or deliver vacant under R6A/C2-3 zoning.
Where is this triplex located?
The property is located at 2254 65th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,688,000.
What are key features of this property?
This property features: All three residential units are vacant; Retail store is 14x30 with a 14‑year tenant; can be delivered vacant; Building size 17.5x74 ft (2,590 SF) on a 20x100 ft (2,000 SF) lot
