Vacant Brick Triplex with
For Sale
$949,000
3476 Fulton Street, Brooklyn, NY 11208
Residential, Brooklyn, NY
Property Size2,480 SF
Lot Size0.04 Acres
Price / SF$382.66
Days on Market266
Property Features for 3476 Fulton Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bedrooms
5
Bathrooms
5
Full bathrooms
3
Rooms
Bathroom 3, Bedroom 5, Bedroom 2, Bedroom 4, Bathroom 5, Bedroom 3, Bathroom 4, Bathroom 2, Bathroom 1, Bedroom 1
Interior features
A/C Unit
Basement
Finished
Subdivision
Cypress Hills
Standard status
Active
Size
2,480 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
5370
Building Details
Year built
1910
Floors in Building
2
Number of units
3
Flooring type
Hardwood
Building materials
Brick
Roof type
Flat
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Albert Taye · License #TAYA286
(917) 592-1281
Added: Dec 17, 2025
Changed: Sep 6
Last Checked: Sep 9 at 11:06AM
MLS# 497924
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 legal three-family residence provides 2,480 square feet in a brick-built triplex configuration. The upper level contains a three-bedroom apartment with a private terrace, while the first floor is arranged as two one-bedroom units. One of those units includes access to a private backyard. A full finished basement adds usable interior space. Hardwood flooring, an A/C unit, and a flat roof are among the existing features, and the structure dates to 1910.
The property sits on a 0.0386-acre lot at 3476 Fulton Street in Brooklyn, NY 11208. It is zoned R5 and is being delivered fully vacant, allowing the next owner to occupy, lease, or modify the existing layout. The combination of three residential units, outdoor areas, and finished lower-level space supports a range of residential income or owner-occupant configurations.
The property sits on a 0.0386-acre lot at 3476 Fulton Street in Brooklyn, NY 11208. It is zoned R5 and is being delivered fully vacant, allowing the next owner to occupy, lease, or modify the existing layout. The combination of three residential units, outdoor areas, and finished lower-level space supports a range of residential income or owner-occupant configurations.
Key Highlights
- Legal three‑family brick residence with 2,480 square feet
- Three‑bedroom upper apartment with private terrace
- Two first‑floor one‑bedroom units; one has private backyard access
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
$63,663
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
6.71%
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%
$1,273,260
$1.3M
Cap Rate 7%
$909,471
$909.5K
Cap Rate 9%
$707,367
$707.4K
Market Conditions
NOI Build-Up for 2,480 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
$95.2K $38.40/SF
− Vacancy
−$4.3K −$1.73/SF
EGI
$90.9K $36.67/SF
− OpEx
−$27.3K −$11.00/SF
NOI
$63.7K $25.67/SF
Area
ZIP 11208
Vacancy
4.50%
Lease Rate
$38.40 /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%
$1,273,260
Cap Rate 7%
$909,471
Cap Rate 9%
$707,367
Alternative Uses
Best Use
Multifamily LT 5
$909.5K
$795.8K – $1.06M
NOI $63,663 @ 7.0% cap · market cap 6.71%
Second Best
Apartment 5plus
$809.8K
$708.6K – $944.8K
NOI $56,686 @ 7.0% cap · market cap 5.97%
Theoretical Best
Office A
$1.52M
$1.33M – $1.77M
NOI $106,222 @ 7.0% cap · market cap 11.19%
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
2,984
Businesses Nearby
Explore this area
Business Placement
Demographics for 11208, NY
101,958
Population
37,261
Households
2.7
Avg Household Size
35
Median Age
16%
College-Educated
82%
High-School Grad
2.7 sq mi
ZIP Area
37,762
Density / Sq Mi
$59,988
Median Household Income
$40,156
Median Earnings
$1,563
Median Rent
$638,200
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 - Vacant delivery provides a flexible three-unit configuration for occupancy, leasing, or customization.
Where is this triplex located?
The property is located at 3476 Fulton Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $949,000.
What are key features of this property?
This property features: Legal three‑family brick residence with 2,480 square feet; Three‑bedroom upper apartment with private terrace; Two first‑floor one‑bedroom units; one has private backyard access
