7-Unit Rent-Stabilized Apartment
New
For Sale
$2,295,000
236 Hancock Street, Brooklyn, NY 11216
Commercial Sale, Brooklyn, NY
Property Size2,880 SF
Lot Size0.10 Acres
Price / SF$796.88
Days on Market3
Property Features for 236 Hancock Street
General Information
Property type
Commercial Sale
Property subtype
Other
Bedrooms
7
Bathrooms
7
Full bathrooms
7
Rooms
Bathroom 2, Bathroom 7, Bathroom 5, Bathroom 6, Bedroom 6, Bedroom 3, Bathroom 3, Bedroom 1, Bathroom 4, Bedroom 4, Bedroom 5, Bedroom 2, Bedroom 7, Bathroom 1
Subdivision
Bedford Stuyvesant
High school district
000000
Standard status
Active
Size
2,880 SF
Lot size
0.10 Acres
Building Details
Architectural style
Other
Listing Agency:
Compass
(646) 982-0353
Listed By:
Keith Frazier
(917) 753-4315
Added: Oct 1
Changed: Oct 3
Last Checked: Oct 3 at 2:06AM
MLS# 12009342
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 four-story apartment building contains seven legal residential units and was constructed in 1931. The 2,880-square-foot structure measures 24' x 60' and is fully occupied; the apartments are rent-stabilized. R6B zoning applies to the property.
An adjoining development parcel is part of the offering. The combined lot area is approximately 4,560 square feet, with dimensions of approximately 38' x 120'.
An adjoining development parcel is part of the offering. The combined lot area is approximately 4,560 square feet, with dimensions of approximately 38' x 120'.
Key Highlights
- Seven legal residential apartments; fully occupied and rent‑stabilized
- Adjacent development parcel included in the offering
- 2,880‑square‑foot building, measuring 24' x 60'
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
$87,923
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
3.83%
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%
$1,758,460
$1.8M
Cap Rate 7%
$1,256,043
$1.3M
Cap Rate 9%
$976,922
$976.9K
Market Conditions
NOI Build-Up for 2,880 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
$163.1K $56.64/SF
− Vacancy
−$3.3K −$1.13/SF
EGI
$159.9K $55.51/SF
− OpEx
−$71.9K −$24.98/SF
NOI
$87.9K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /SF/Yr
Expense Ratio
45.00%
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%
$1,758,460
Cap Rate 7%
$1,256,043
Cap Rate 9%
$976,922
Alternative Uses
Best Use
Apartment 5plus
$1.26M
$1.10M – $1.47M
NOI $87,923 @ 7.0% cap · market cap 3.83%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.38M
$2.09M – $2.78M
NOI $166,925 @ 7.0% cap · market cap 7.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
7
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
6,055
Businesses Nearby
Explore this area
Business Placement
Demographics for 11216, NY
61,251
Population
28,825
Households
2.1
Avg Household Size
34
Median Age
56%
College-Educated
91%
High-School Grad
1.0 sq mi
ZIP Area
61,251
Density / Sq Mi
$95,000
Median Household Income
$61,389
Median Earnings
$2,180
Median Rent
$1,398,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - The fully occupied residential property is offered with an adjoining development parcel.
Where is this apartment building located?
The property is located at 236 Hancock Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,295,000.
What are key features of this property?
This property features: Seven legal residential apartments; fully occupied and rent‑stabilized; Adjacent development parcel included in the offering; 2,880‑square‑foot building, measuring 24' x 60'
