Vacant Brick
For Sale
$1,620,000
516 55th Street, Brooklyn, NY 11220
Residential, Brooklyn, NY
Property Size1,800 SF
Lot Size0.05 Acres
Price / SF$900
Days on Market102
Property Features for 516 55th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 2, Bathroom 3
Subdivision
Sunset Park
Standard status
Active
Size
1,800 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
9500
Building Details
Floors in Building
2
Number of units
3
Flooring type
Hardwood
Building materials
Brick
Listing Agency:
Winzone Realty Inc
Listed By:
Coco (Elaine) Li
(718) 676-6611
Added: May 28
Changed: Sep 5
Last Checked: Sep 6 at 10:06PM
MLS# 501814
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 brick triplex is being offered vacant and contains approximately 1,800 square feet of building area. The basement measures 20x55 and includes three rooms plus a bathroom. The first floor provides three bedrooms and one bathroom, while the second floor includes four bedrooms and one bathroom. Hardwood flooring is present, and the property includes three bathrooms overall.
Separate electric, gas, and hot water systems serve the building. The parcel measures 20x100, with a building footprint of 20x45. The property is located near transportation, shopping, and everyday services in Brooklyn, NY.
Separate electric, gas, and hot water systems serve the building. The parcel measures 20x100, with a building footprint of 20x45. The property is located near transportation, shopping, and everyday services in Brooklyn, NY.
Key Highlights
- Vacant triplex at 516 55th Street, Brooklyn, NY 11220
- 1,800 square feet of building area
- 20x100 lot with a 20x45 building footprint
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
$53,594
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
3.31%
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%
$1,071,880
$1.1M
Cap Rate 7%
$765,629
$765.6K
Cap Rate 9%
$595,489
$595.5K
Market Conditions
NOI Build-Up for 1,800 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
$79.9K $44.40/SF
− Vacancy
−$3.4K −$1.86/SF
EGI
$76.6K $42.54/SF
− OpEx
−$23.0K −$12.76/SF
NOI
$53.6K $29.77/SF
Area
ZIP 11220
Vacancy
4.20%
Lease Rate
$44.40 /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%
$1,071,880
Cap Rate 7%
$765,629
Cap Rate 9%
$595,489
Alternative Uses
Best Use
Multifamily LT 5
$765.6K
$669.9K – $893.2K
NOI $53,594 @ 7.0% cap · market cap 3.31%
Second Best
Apartment 5plus
$685.7K
$600.0K – $800.0K
NOI $48,000 @ 7.0% cap · market cap 2.96%
Theoretical Best
Office A
$1.17M
$1.02M – $1.36M
NOI $81,683 @ 7.0% cap · market cap 5.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
6,915
Businesses Nearby
Explore this area
Business Placement
Demographics for 11220, NY
105,797
Population
30,897
Households
3.4
Avg Household Size
35
Median Age
25%
College-Educated
62%
High-School Grad
1.7 sq mi
ZIP Area
62,234
Density / Sq Mi
$64,201
Median Household Income
$31,489
Median Earnings
$1,688
Median Rent
$1,021,200
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 - Three-level residential income property with separate utility systems and flexible occupancy options.
Where is this triplex located?
The property is located at 516 55th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,620,000.
What are key features of this property?
This property features: Vacant triplex at 516 55th Street, Brooklyn, NY 11220; 1,800 square feet of building area; 20x100 lot with a 20x45 building footprint
