Three-Family Brick
For Sale
$2,689,000
103 16th Street, Brooklyn, NY 11215
Residential, Brooklyn, NY
Property Size2,986 SF
Lot Size0.05 Acres
Price / SF$900.54
Days on Market51
Property Features for 103 16th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R6B
Bedrooms
8
Bathrooms
5
Full bathrooms
3
Half bathrooms
2
Rooms
Bedroom 2, Bedroom 7, Bedroom 8, Bathroom 3, Bedroom 4, Bedroom 3, Bathroom 4, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 5, Bathroom 5, Bedroom 6
Interior features
Refrigerator, Stove
Basement
Finished
Subdivision
Park Slope
Standard status
Active
Size
2,986 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
12646
Building Details
Year built
1991
Floors in Building
3
Number of units
3
Flooring type
Hardwood
Building materials
Brick
Roof type
Flat
Listing Agency:
Momentum Real Estate LLC
Listed By:
Meijuan (Minnie) Lin · License #MJL6058
(718) 382-0001
Added: Jul 22
Changed: Sep 5
Last Checked: Sep 10 at 5:06AM
MLS# 503225
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 2,986-square-foot three-family property contains a two-bedroom, one-bath first-floor residence and two upper-level residences with three bedrooms and 1.5 bathrooms each. A finished basement with its own entrance provides additional interior space. The building was constructed in 1991 with brick exterior walls, hardwood flooring, a flat roof, a refrigerator, and a stove.
The property occupies 0.0453 acres at 103 16th Street in Brooklyn’s Park Slope area. It is positioned near public transportation, shopping, restaurants, parks, and schools. R6B zoning applies to the property.
The property occupies 0.0453 acres at 103 16th Street in Brooklyn’s Park Slope area. It is positioned near public transportation, shopping, restaurants, parks, and schools. R6B zoning applies to the property.
Key Highlights
- Three‑family property with 2,986 square feet of building area
- Unit mix includes one 2‑bedroom residence and two 3‑bedroom residences
- Finished basement with separate 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
$104,575
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
3.89%
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%
$2,091,500
$2.1M
Cap Rate 7%
$1,493,929
$1.5M
Cap Rate 9%
$1,161,944
$1.2M
Market Conditions
NOI Build-Up for 2,986 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
$152.3K $51.00/SF
− Vacancy
−$2.9K −$0.97/SF
EGI
$149.4K $50.03/SF
− OpEx
−$44.8K −$15.01/SF
NOI
$104.6K $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%
$2,091,500
Cap Rate 7%
$1,493,929
Cap Rate 9%
$1,161,944
Alternative Uses
Best Use
Multifamily LT 5
$1.49M
$1.31M – $1.74M
NOI $104,575 @ 7.0% cap · market cap 3.89%
Second Best
Apartment 5plus
$1.30M
$1.14M – $1.52M
NOI $91,159 @ 7.0% cap · market cap 3.39%
Theoretical Best
Specialty Retail
$2.47M
$2.16M – $2.88M
NOI $173,069 @ 7.0% cap · market cap 6.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
5,737
Businesses Nearby
Explore this area
Business Placement
Demographics for 11215, NY
67,493
Population
32,197
Households
2.1
Avg Household Size
37
Median Age
80%
College-Educated
96%
High-School Grad
2.2 sq mi
ZIP Area
30,679
Density / Sq Mi
$180,773
Median Household Income
$99,151
Median Earnings
$2,803
Median Rent
$1,674,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Functional layouts include a finished basement with separate entry and private front parking area.
Where is this triplex located?
The property is located at 103 16th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,689,000.
What are key features of this property?
This property features: Three‑family property with 2,986 square feet of building area; Unit mix includes one 2‑bedroom residence and two 3‑bedroom residences; Finished basement with separate entrance
