Three-Family Building with New Roof
For Sale
$1,400,000
1098 Jefferson Avenue, Brooklyn, NY 11221
Three-family building built in 1920 with a new roof waterproof coating and package offering with a nearby address.
Property Size3,600 SF
Price / SF$388.89
Days on Market42
Property Features for 1098 Jefferson Avenue
General Information
Standard status
Active
Size
3,600 SF
Property subtype
Multi Family
Additional Details
Asking Price
$2,550,000
Taxes and HOA fees
Annual Taxes
$4,212
Building Details
Building Size
3,600 SF
Year Built
1920
Buildings
2
Listing Agency:
Compass
(917) 572-2583
Listed By:
Delson Ronit Abraham
(917) 572-2583
Source:
Nilelundgren
Added: Jul 3
Changed: Aug 8
Last Checked: Aug 12 at 3:25PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Compass
Investment Insights
Based on property information with market context.
This three-family (triplex) building at 1098 Jefferson Avenue was built in 1920 and is offered as part of a two-property package. The current built area is 3,000 sq. ft., with an additional 1,400 sq. ft. of buildable area, and a maximum buildable area of 4,400 sq. ft. The roof has a new waterproof coating.
The property is being offered together with 1139 Hancock St. The package is for cash buyers only. Bring your architect to review the available buildable area and consider how the improvements can support your desired configuration.
Designed for a residential income approach, this property’s existing layout and outlined buildable potential may be suitable for buyers looking to combine current structure value with scope for additional development within the stated buildable limits.
The property is being offered together with 1139 Hancock St. The package is for cash buyers only. Bring your architect to review the available buildable area and consider how the improvements can support your desired configuration.
Designed for a residential income approach, this property’s existing layout and outlined buildable potential may be suitable for buyers looking to combine current structure value with scope for additional development within the stated buildable limits.
Key Highlights
- Three‑family (triplex) building built in 1920
- Roof has new waterproof coating
- Current built area: 3,000 sq. ft.
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
9.01%
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 9.01%
Second Best
Apartment 5plus
$1.57M
$1.37M – $1.83M
NOI $109,904 @ 7.0% cap · market cap 7.85%
Theoretical Best
Specialty Retail
$2.98M
$2.61M – $3.48M
NOI $208,656 @ 7.0% cap · market cap 14.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,267
Businesses Nearby
Explore this area
Business Placement
Demographics for 11221, NY
89,222
Population
38,690
Households
2.3
Avg Household Size
33
Median Age
42%
College-Educated
84%
High-School Grad
1.4 sq mi
ZIP Area
63,730
Density / Sq Mi
$85,122
Median Household Income
$49,202
Median Earnings
$2,055
Median Rent
$1,061,400
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-family building built in 1920 with a new roof waterproof coating and package offering with a nearby address.
Where is this triplex located?
The property is located at 1098 Jefferson Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Three‑family (triplex) building built in 1920; Roof has new waterproof coating; Current built area: 3,000 sq. ft.
