Three-Unit Residential Building with
For Sale
$1,100,000
2294 Atlantic Avenue, Brooklyn, NY 11233
MULTI_FAMILY - Brooklyn, NY
Property Size2,160 SF
Lot Size0.04 Acres
Price / SF$509.26
Days on Market142
Property Features for 2294 Atlantic Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 3, Bathroom 2
Interior features
A/C Unit
Basement
Finished, Full
Subdivision
Ocean Hill
Standard status
Active
Size
2,160 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
1223
Building Details
Number of units
3
Flooring type
Hardwood
Roof type
Flat
Listing Agency:
eXp Realty BKNY
(888) 276-0630
Listed By:
Kenwood Chan
(888) 276-0630
Added: Apr 12
Changed: Aug 12
Last Checked: Aug 31 at 11:06AM
MLS# 500409
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.
Turnkey three-unit (triplex) residential building at 2294 Atlantic Avenue. The property includes three spacious units, each with two bedrooms and one bathroom. Interior features include A/C unit(s), and the flooring is hardwood. The roof is flat, supporting straightforward building maintenance and operations.
Set on a 0.039-acre lot with a total property size of 2,160 square feet, the building is configured for long-term occupancy. Rooms include three separate bathrooms across the units.
Tenants are described as being responsible for most utilities, which can simplify owner expense management. The property is presented as well maintained, with the intent of reducing the need for immediate capital improvements.
Set on a 0.039-acre lot with a total property size of 2,160 square feet, the building is configured for long-term occupancy. Rooms include three separate bathrooms across the units.
Tenants are described as being responsible for most utilities, which can simplify owner expense management. The property is presented as well maintained, with the intent of reducing the need for immediate capital improvements.
Key Highlights
- Three units, each with two bedrooms and one bathroom
- Total building size of 2,160 square feet
- 0.039‑acre 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
$75,647
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
6.88%
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%
$1,512,940
$1.5M
Cap Rate 7%
$1,080,671
$1.1M
Cap Rate 9%
$840,522
$840.5K
Market Conditions
NOI Build-Up for 2,160 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
$110.2K $51.00/SF
− Vacancy
−$2.1K −$0.97/SF
EGI
$108.1K $50.03/SF
− OpEx
−$32.4K −$15.01/SF
NOI
$75.6K $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%
$1,512,940
Cap Rate 7%
$1,080,671
Cap Rate 9%
$840,522
Alternative Uses
Best Use
Multifamily LT 5
$1.08M
$945.6K – $1.26M
NOI $75,647 @ 7.0% cap · market cap 6.88%
Second Best
Apartment 5plus
$942.0K
$824.3K – $1.10M
NOI $65,943 @ 7.0% cap · market cap 5.99%
Theoretical Best
Specialty Retail
$1.79M
$1.56M – $2.09M
NOI $125,194 @ 7.0% cap · market cap 11.38%
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
3,661
Businesses Nearby
Explore this area
Business Placement
Demographics for 11233, NY
75,399
Population
34,412
Households
2.2
Avg Household Size
35
Median Age
33%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
57,999
Density / Sq Mi
$62,034
Median Household Income
$47,149
Median Earnings
$1,613
Median Rent
$1,013,000
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 - Turnkey three-unit property with A/C units, hardwood flooring, and flat roof, designed for easy long-term tenancy.
Where is this triplex located?
The property is located at 2294 Atlantic Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Three units, each with two bedrooms and one bathroom; Total building size of 2,160 square feet; 0.039‑acre lot
