Brick Triplex with Private
For Sale
$1,300,000
Pending
276 Woodbine Street, Brooklyn, NY 11221
Residential Income, Brooklyn, NY
Property Size3,385 SF
Lot Size0.04 Acres
Days on Market117
Property Features for 276 Woodbine Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bedroom 3, Bathroom 1, Basement, Bedroom 4, Bedroom 5, Bedroom 1, Bedroom 6, Bathroom 3, Bedroom 2
Parking features
On Street
Basement
Full, Finished
Elementary school
Ps 377 Alejandrina B De Gautier
Middle school
Jhs 291 Roland Hayes
High school
Bushwick Community Hs
Elementary school district
Brooklyn 32
Middle school district
Brooklyn 32
High school district
Brooklyn 32
Directions
Knickerbocker Avenue to Woodbine Street
Standard status
Pending
APN
03361-0028
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3483
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Amenities
gated front entry
private rear yard
laundry area
Building Details
Year built
1920
Number of units
3
Building materials
Brick, Frame
Architectural style
Other
Listing Agency:
EXP Realty
(888) 276-0630
Listed By:
Vincent Koo CBR SRS
(917) 920-6386
Added: May 4
Changed: Aug 20
Last Checked: Aug 28 at 7:06PM
MLS# 988620
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 triplex contains approximately 3,385 square feet of interior living space arranged across three separate units, with six bedrooms and three full bathrooms. The first floor and finished basement include living and dining areas, a kitchen, laundry area, and storage rooms. Upper-level spaces add kitchens and bathrooms, with tile and hardwood flooring appearing throughout. A gated front entry and private rear yard provide additional exterior features. The property was built in 1920 with brick and frame construction, natural-gas heating, wall or window unit cooling, and public water and sewer. On-street parking is available. Myrtle-Wyckoff Avenue subway station is nearby, providing access to the L and M lines, with parks, dining, and shopping in the surrounding area.
Key Highlights
- Three separate units with approximately 3,385 square feet of interior living space
- Six bedrooms and three full bathrooms
- Private rear yard with gated front entry
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
$118,548
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
9.12%
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%
$2,370,960
$2.4M
Cap Rate 7%
$1,693,543
$1.7M
Cap Rate 9%
$1,317,200
$1.3M
Market Conditions
NOI Build-Up for 3,385 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
$172.6K $51.00/SF
− Vacancy
−$3.3K −$0.97/SF
EGI
$169.4K $50.03/SF
− OpEx
−$50.8K −$15.01/SF
NOI
$118.5K $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%
$2,370,960
Cap Rate 7%
$1,693,543
Cap Rate 9%
$1,317,200
Alternative Uses
Best Use
Multifamily LT 5
$1.69M
$1.48M – $1.98M
NOI $118,548 @ 7.0% cap · market cap 9.12%
Second Best
Apartment 5plus
$1.48M
$1.29M – $1.72M
NOI $103,341 @ 7.0% cap · market cap 7.95%
Theoretical Best
Specialty Retail
$2.80M
$2.45M – $3.27M
NOI $196,195 @ 7.0% cap · market cap 15.09%
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
5,245
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?
Triplex - Brick construction, private rear yard, and access to L and M subway lines support residential income use.
Where is this triplex located?
The property is located at 276 Woodbine Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Three separate units with approximately 3,385 square feet of interior living space; Six bedrooms and three full bathrooms; Private rear yard with gated front entry
