Three-Unit Brick
For Sale
$1,775,000
554 Central Avenue, Brooklyn, NY 11207
Residential, Brooklyn, NY
Property Size3,600 SF
Lot Size0.04 Acres
Price / SF$493.06
Days on Market62
Property Features for 554 Central Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
9
Bathrooms
4
Full bathrooms
3
Half bathrooms
1
Rooms
Bathroom 2, Bathroom 4, Bedroom 4, Bedroom 3, Bedroom 7, Bathroom 1, Bedroom 9, Bedroom 8, Bathroom 3, Bedroom 5, Bedroom 6, Bedroom 2, Bedroom 1
Interior features
A/C Unit - Window, Refrigerator, Stove, Washer
Basement
Finished, Full
Subdivision
Bushwick
Standard status
Active
Size
3,600 SF
Lot size
0.04 Acres
Building Details
Number of units
3
Flooring type
Hardwood
Building materials
Brick, Wood Frame
Roof type
Flat
Listing Agency:
Real Broker NY LLC
(718) 256-4000
Listed By:
Celinda Iaboni
(718) 269-4598
Added: Aug 1
Changed: Sep 16
Last Checked: Oct 1 at 4:06PM
MLS# 503451
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 three-unit residential property at 554 Central Avenue contains approximately 3,600 square feet across three full stories on a 0.0367-acre lot. The building is constructed with brick and wood framing and features hardwood flooring, window A/C units, refrigerators, stoves, and a washer. The property is delivered fully vacant, with each residence offering spacious layouts and high ceilings. There are four bathrooms and nine bedrooms across the building, along with a flat roof.
The property is located in Bushwick near restaurants, nightlife, shopping, and neighborhood businesses. Access to the J and L train lines is noted in the property information. R6 zoning and the three-unit configuration support residential use, while the existing vacancy provides flexibility for an owner occupant, rental placement, or renovation plans.
The property is located in Bushwick near restaurants, nightlife, shopping, and neighborhood businesses. Access to the J and L train lines is noted in the property information. R6 zoning and the three-unit configuration support residential use, while the existing vacancy provides flexibility for an owner occupant, rental placement, or renovation plans.
Key Highlights
- Three residential units across three full stories
- Approximately 3,600 square feet on a 0.0367‑acre lot
- Fully vacant at delivery
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
$126,078
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
7.10%
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%
$2,521,560
$2.5M
Cap Rate 7%
$1,801,114
$1.8M
Cap Rate 9%
$1,400,867
$1.4M
Market Conditions
NOI Build-Up for 3,600 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
$183.6K $51.00/SF
− Vacancy
−$3.5K −$0.97/SF
EGI
$180.1K $50.03/SF
− OpEx
−$54.0K −$15.01/SF
NOI
$126.1K $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%
$2,521,560
Cap Rate 7%
$1,801,114
Cap Rate 9%
$1,400,867
Alternative Uses
Best Use
Multifamily LT 5
$1.80M
$1.58M – $2.10M
NOI $126,078 @ 7.0% cap · market cap 7.10%
Second Best
Apartment 5plus
$1.57M
$1.37M – $1.83M
NOI $109,904 @ 7.0% cap · market cap 6.19%
Theoretical Best
Specialty Retail
$2.98M
$2.61M – $3.48M
NOI $208,656 @ 7.0% cap · market cap 11.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
3,398
Businesses Nearby
Explore this area
Business Placement
Demographics for 11207, NY
100,330
Population
38,030
Households
2.6
Avg Household Size
35
Median Age
19%
College-Educated
81%
High-School Grad
2.7 sq mi
ZIP Area
37,159
Density / Sq Mi
$55,419
Median Household Income
$41,008
Median Earnings
$1,443
Median Rent
$657,400
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Vacant three-unit property with three full stories, R6 zoning, and flexible residential layouts in Bushwick.
Where is this triplex located?
The property is located at 554 Central Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,775,000.
What are key features of this property?
This property features: Three residential units across three full stories; Approximately 3,600 square feet on a 0.0367‑acre lot; Fully vacant at delivery
