Three-Family Property with Finished
For Sale
$999,000
Pending
965 Glenmore Avenue, Brooklyn, NY 11208
Residential Income, Brooklyn, NY
Property Size3,300 SF
Days on Market127
Property Features for 965 Glenmore Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
10
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bathroom 1, Bedroom 8, Bathroom 2, Basement, Bedroom 1, Bedroom 6, Bedroom 5, Bedroom 9, Bathroom 3, Bedroom 2, Bedroom 4, Bedroom 10, Bedroom 7
Parking features
On Street
Interior features
Eat-in Kitchen
Basement
Finished
Elementary school
Ps 345 Patrolman Robert Bolden
Middle school
Call Listing Agent
High school
Contact Agent
Elementary school district
Brooklyn 19
Middle school district
Contact Agent
High school district
Contact Agent
Standard status
Pending
APN
3-04192-0046
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4648
Utilities
Utilities
Electricity Available
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Amenities
fenced back yard
Building Details
Year built
1899
Number of units
3
Building materials
Frame
Listing Agency:
Real Broker NY LLC
(855) 450-0442
Listed By:
Barbara Piascik
(718) 300-5015
Added: May 7
Changed: Sep 6
Last Checked: Sep 10 at 3:06AM
MLS# 996806
Copyright © 2026 OneKey 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 1899 frame triplex contains approximately 3,300 square feet within a 20-foot by 55-foot footprint. The first floor has a two-bedroom apartment, while the second and third floors each contain three-bedroom units. The second-floor residence includes an updated kitchen. A finished basement adds a full bathroom and its own exterior entrance. The property also includes a newly paved, fenced backyard.
The building is located on Glenmore Avenue in Brooklyn, near shopping, dining, schools, parks, public transportation, and major highways. The A and C train lines are nearby. Public water and sewer serve the property, with natural-gas heating and wall or window cooling units. Parking is available on the street. The first- and second-floor apartments have paying tenants, while the third-floor unit and basement are vacant.
The building is located on Glenmore Avenue in Brooklyn, near shopping, dining, schools, parks, public transportation, and major highways. The A and C train lines are nearby. Public water and sewer serve the property, with natural-gas heating and wall or window cooling units. Parking is available on the street. The first- and second-floor apartments have paying tenants, while the third-floor unit and basement are vacant.
Key Highlights
- Approximately 3,300 square feet in a 20 ft x 55 ft footprint
- Three‑family layout with 2‑bedroom first‑floor and 3‑bedroom second- and third‑floor units
- Finished basement with full bathroom and separate outside entrance
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
$84,712
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
8.48%
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%
$1,694,240
$1.7M
Cap Rate 7%
$1,210,171
$1.2M
Cap Rate 9%
$941,244
$941.2K
Market Conditions
NOI Build-Up for 3,300 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
$126.7K $38.40/SF
− Vacancy
−$5.7K −$1.73/SF
EGI
$121.0K $36.67/SF
− OpEx
−$36.3K −$11.00/SF
NOI
$84.7K $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%
$1,694,240
Cap Rate 7%
$1,210,171
Cap Rate 9%
$941,244
Alternative Uses
Best Use
Multifamily LT 5
$1.21M
$1.06M – $1.41M
NOI $84,712 @ 7.0% cap · market cap 8.48%
Second Best
Apartment 5plus
$1.08M
$942.9K – $1.26M
NOI $75,428 @ 7.0% cap · market cap 7.55%
Theoretical Best
Office A
$2.02M
$1.77M – $2.36M
NOI $141,343 @ 7.0% cap · market cap 14.15%
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
2,997
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
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 - First- and second-floor apartments are occupied; the third-floor unit and basement are vacant.
Where is this triplex located?
The property is located at 965 Glenmore Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Approximately 3,300 square feet in a 20 ft x 55 ft footprint; Three‑family layout with 2‑bedroom first‑floor and 3‑bedroom second- and third‑floor units; Finished basement with full bathroom and separate outside entrance
