Five-Family Apartment Building with
For Sale
$2,999,000
9307 3rd Ave, Brooklyn, NY 11209
MULTI_FAMILY - Brooklyn, NY
Property Size5,040 SF
Lot Size0.04 Acres
Price / SF$595.04
Days on Market129
Property Features for 9307 3rd Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Mixed Use
Bedrooms
6
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 5, Bedroom 4, Bedroom 3, Bathroom 3, Bathroom 1, Bathroom 2, Bathroom 4, Bedroom 1, Bedroom 6, Bedroom 5, Bedroom 2
Subdivision
Bay Ridge
View
City
Standard status
Active
Size
5,040 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
29768
Utilities
Heating system
Steam, Natural Gas
Building Details
Year built
1926
Floors in Building
3
Flooring type
Granite, Hardwood, Tile
Listing Agency:
REMAX REAL ESTATE PROFESSIONALS
(718) 887-5708
Listed By:
Vito Angelo · License #40AN0957928
(718) 887-5708
Added: Apr 15
Changed: Aug 4
Last Checked: Aug 21 at 8:06PM
MLS# 11692485
Copyright © 2026 My State 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 five-family apartment building includes five one-bedroom apartments and one ground-floor commercial store. The property is situated on a 0.0448-acre lot and has 5,040 square feet of building area. Flooring includes granite, tile, and hardwood, supported by natural gas steam heating.
Built in 1926, the building provides a straightforward mixed-use setup with residential units positioned above street-level retail space. The arrangement supports both day-to-day tenant access and a shared building envelope with separate income opportunities from the residential and commercial components.
The floor plan includes multiple bedrooms and bathrooms across the apartments, with the residential space configured as five one-bedroom units. The ground-floor store adds an additional commercial use alongside the building’s rental apartments.
Built in 1926, the building provides a straightforward mixed-use setup with residential units positioned above street-level retail space. The arrangement supports both day-to-day tenant access and a shared building envelope with separate income opportunities from the residential and commercial components.
The floor plan includes multiple bedrooms and bathrooms across the apartments, with the residential space configured as five one-bedroom units. The ground-floor store adds an additional commercial use alongside the building’s rental apartments.
Key Highlights
- 0.0448‑acre lot with a 5,040 SF building
- Five one‑bedroom apartments plus one ground‑floor commercial store
- Built in 1926
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
$241,691
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
8.06%
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%
$4,833,820
$4.8M
Cap Rate 7%
$3,452,729
$3.5M
Cap Rate 9%
$2,685,456
$2.7M
Market Conditions
NOI Build-Up for 5,040 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
$391.9K $77.76/SF
− Vacancy
−$46.6K −$9.25/SF
EGI
$345.3K $68.51/SF
− OpEx
−$103.6K −$20.55/SF
NOI
$241.7K $47.95/SF
Area
Brooklyn, NY
Vacancy
11.90%
Lease Rate
$77.76 /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%
$4,833,820
Cap Rate 7%
$3,452,729
Cap Rate 9%
$2,685,456
Alternative Uses
Best Use
Retail
$3.45M
$3.02M – $4.03M
NOI $241,691 @ 7.0% cap · market cap 8.06%
Second Best
Apartment 5plus
$2.20M
$1.92M – $2.56M
NOI $153,866 @ 7.0% cap · market cap 5.13%
Theoretical Best
Specialty Retail
$4.17M
$3.65M – $4.87M
NOI $292,118 @ 7.0% cap · market cap 9.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,590
Businesses Nearby
Explore this area
Business Placement
Demographics for 11209, NY
73,239
Population
33,286
Households
2.2
Avg Household Size
40
Median Age
53%
College-Educated
90%
High-School Grad
2.1 sq mi
ZIP Area
34,876
Density / Sq Mi
$92,656
Median Household Income
$62,455
Median Earnings
$1,857
Median Rent
$905,700
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?
Apartment building - Five one-bedroom apartments above a ground-floor commercial store in a 1926 apartment building.
Where is this apartment building located?
The property is located at 9307 3rd Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,999,000.
What are key features of this property?
This property features: 0.0448‑acre lot with a 5,040 SF building; Five one‑bedroom apartments plus one ground‑floor commercial store; Built in 1926
