Detached Brick
New
For Sale
$1,995,000
11 Mackay Place, Brooklyn, NY 11209
MULTI_FAMILY - Brooklyn, NY
Property Size3,055 SF
Lot Size0.03 Acres
Price / SF$653.03
Days on Market2
Property Features for 11 Mackay Place
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5B
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bedroom 2, Bathroom 1, Bedroom 3, Bathroom 3, Bedroom 4, Bathroom 2, Bedroom 5
Parking features
Garage - Attached
Interior features
Refrigerator, Stove
Basement
Full
Subdivision
Bay Ridge
Standard status
Active
Size
3,055 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
11627
Amenities
private backyard
Building Details
Year built
1925
Floors in Building
3
Number of units
3
Flooring type
Tile, Hardwood, Ceramic
Building materials
Brick
Roof type
Flat
Listing Agency:
RE/MAX Real Estate Professiona
(718) 532-2000
Listed By:
Vito Angelo · License #VITLO524
(718) 532-2000
Added: Aug 10
Changed: Aug 11
Last Checked: Aug 11 at 5:06PM
MLS# 503523
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 fully detached brick triplex, built in 1925, contains 3,055 square feet across a three-level 2-bedroom, 2-bedroom, and 1-bedroom arrangement. The property includes a private driveway, attached one-car garage, and backyard. Interior finishes include hardwood, tile, and ceramic flooring, with a refrigerator and stove among the listed appliances. The flat-roofed building is zoned R5B.
The property is in Brooklyn’s Bay Ridge area, near the Shore Road promenade, dog park, and waterfront promenade. Express bus service and the NYC Ferry are accessible within minutes, with connections toward Lower Manhattan. The address is 11 Mackay Place, Brooklyn, NY 11209.
The property is in Brooklyn’s Bay Ridge area, near the Shore Road promenade, dog park, and waterfront promenade. Express bus service and the NYC Ferry are accessible within minutes, with connections toward Lower Manhattan. The address is 11 Mackay Place, Brooklyn, NY 11209.
Key Highlights
- Three‑family layout with 2‑bedroom, 2‑bedroom, and 1‑bedroom units
- 3,055 square feet on a 0.0349‑acre lot
- Fully detached solid‑brick construction; built in 1925
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
$106,991
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
5.36%
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%
$2,139,820
$2.1M
Cap Rate 7%
$1,528,443
$1.5M
Cap Rate 9%
$1,188,789
$1.2M
Market Conditions
NOI Build-Up for 3,055 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
$155.8K $51.00/SF
− Vacancy
−$3.0K −$0.97/SF
EGI
$152.8K $50.03/SF
− OpEx
−$45.9K −$15.01/SF
NOI
$107.0K $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%
$2,139,820
Cap Rate 7%
$1,528,443
Cap Rate 9%
$1,188,789
Alternative Uses
Best Use
Multifamily LT 5
$1.53M
$1.34M – $1.78M
NOI $106,991 @ 7.0% cap · market cap 5.36%
Second Best
Apartment 5plus
$1.33M
$1.17M – $1.55M
NOI $93,266 @ 7.0% cap · market cap 4.67%
Theoretical Best
Specialty Retail
$2.53M
$2.21M – $2.95M
NOI $177,068 @ 7.0% cap · market cap 8.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,760
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?
Triplex - Three-family residence with a private drive, attached garage, and flexible bedroom configuration.
Where is this triplex located?
The property is located at 11 Mackay Place Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: Three‑family layout with 2‑bedroom, 2‑bedroom, and 1‑bedroom units; 3,055 square feet on a 0.0349‑acre lot; Fully detached solid‑brick construction; built in 1925
