Brick Triplex with
For Sale
$1,498,000
2828 Bragg Street, Brooklyn, NY 11235
Residential, Split, Brooklyn, NY
Property Size3,040 SF
Lot Size0.04 Acres
Price / SF$492.76
Days on Market38
Property Features for 2828 Bragg Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bedrooms
7
Bathrooms
5
Full bathrooms
3
Half bathrooms
2
Rooms
Bedroom 6, Bedroom 4, Bedroom 5, Bathroom 4, Bathroom 1, Bedroom 7, Bathroom 2, Bedroom 3, Bathroom 3, Bathroom 5, Bedroom 1, Bedroom 2
Parking features
Garage
Interior features
A/C Unit - Wall
Basement
Finished
Subdivision
Sheepshead Bay
Standard status
Active
Size
3,040 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
8637
Building Details
Year built
1970
Floors in Building
3
Number of units
3
Flooring type
Hardwood
Building materials
Brick
Roof type
Flat
Architectural style
Other
Listing Agency:
Momentum Real Estate LLC
Listed By:
Meijuan (Minnie) Lin · License #MJL6058
(718) 382-0001
Added: Aug 5
Changed: Sep 5
Last Checked: Sep 11 at 10:06AM
MLS# 503553
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.
This 3,040-square-foot brick triplex, built in 1970, contains three residential units. The lower-level apartment has 1 bedroom and 1 full bathroom. A second-floor unit provides 3 bedrooms, 1.5 bathrooms, and direct entry to a fully finished basement. The third-floor apartment also offers 3 bedrooms and 1.5 bathrooms. Hardwood flooring, wall-unit A/C, and a flat roof are among the documented property features. The home is situated on a 0.0367-acre lot and includes a private driveway with a built-in garage for off-street parking.
Located on Bragg Street in Brooklyn’s Sheepshead Bay area, the property is minutes from the Belt Parkway and near a movie theater, shopping, restaurants, and multiple bus lines. Zoning is R5.
Located on Bragg Street in Brooklyn’s Sheepshead Bay area, the property is minutes from the Belt Parkway and near a movie theater, shopping, restaurants, and multiple bus lines. Zoning is R5.
Key Highlights
- 3,040 square feet with three residential units
- Unit mix includes 1 bedroom and 1 full bathroom downstairs, plus two 3‑bedroom, 1.5‑bathroom apartments
- Fully finished basement with direct access from the second‑floor unit
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
$106,466
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
7.11%
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%
$2,129,320
$2.1M
Cap Rate 7%
$1,520,943
$1.5M
Cap Rate 9%
$1,182,956
$1.2M
Market Conditions
NOI Build-Up for 3,040 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
$155.0K $51.00/SF
− Vacancy
−$2.9K −$0.97/SF
EGI
$152.1K $50.03/SF
− OpEx
−$45.6K −$15.01/SF
NOI
$106.5K $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%
$2,129,320
Cap Rate 7%
$1,520,943
Cap Rate 9%
$1,182,956
Alternative Uses
Best Use
Multifamily LT 5
$1.52M
$1.33M – $1.77M
NOI $106,466 @ 7.0% cap · market cap 7.11%
Second Best
Apartment 5plus
$1.33M
$1.16M – $1.55M
NOI $92,808 @ 7.0% cap · market cap 6.20%
Theoretical Best
Specialty Retail
$2.52M
$2.20M – $2.94M
NOI $176,198 @ 7.0% cap · market cap 11.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,124
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
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?
Triplex - Three residential units include a one-bedroom apartment and two larger three-bedroom layouts with finished basement access.
Where is this triplex located?
The property is located at 2828 Bragg Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,498,000.
What are key features of this property?
This property features: 3,040 square feet with three residential units; Unit mix includes 1 bedroom and 1 full bathroom downstairs, plus two 3‑bedroom, 1.5‑bathroom apartments; Fully finished basement with direct access from the second‑floor unit
