Detached Triplex With Rear
New
For Sale
$1,095,000
111 Schenectady Ave, Brooklyn, NY 11213
Three-family property with a full basement, rear yard, and R6 zoning.
Property Size2,400 SF
Lot Size0.05 Acres
Days on Market4
Property Features for 111 Schenectady Ave
General Information
Standard status
Active
Size
2,400 SF
Lot size
0.05 Acres
Property subtype
Multi Family
Zoning
R6
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$1,728
Building Details
Building Size
2,400 SF
Year Built
1920
Buildings
1
Stories
3
Listing Agency:
Century 21 Block & Lot R.E
(718) 768-4500
Listed By:
Omar Hasan
(718) 768-4500
Source:
Elliman
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 10 at 3:49AM
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 Century 21 Block & Lot R.E
Investment Insights
Based on property information with market context.
This fully detached triplex contains three residential units and includes a full basement and spacious rear yard. The property occupies a 23x100 lot and carries R6 zoning, with construction dating to 1920.
Located at 111 Schenectady Ave in Brooklyn’s Crown Heights, the property has a walk score of 88, a bike score of 74, and a transit score of 98. These ratings reflect strong walkability, convenient cycling conditions, and extensive transit access.
Located at 111 Schenectady Ave in Brooklyn’s Crown Heights, the property has a walk score of 88, a bike score of 74, and a transit score of 98. These ratings reflect strong walkability, convenient cycling conditions, and extensive transit access.
Key Highlights
- Fully detached three‑family property
- 23x100 lot with R6 zoning
- Full basement and spacious rear yard
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
$84,052
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
7.68%
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%
$1,681,040
$1.7M
Cap Rate 7%
$1,200,743
$1.2M
Cap Rate 9%
$933,911
$933.9K
Market Conditions
NOI Build-Up for 2,400 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
$122.4K $51.00/SF
− Vacancy
−$2.3K −$0.97/SF
EGI
$120.1K $50.03/SF
− OpEx
−$36.0K −$15.01/SF
NOI
$84.1K $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%
$1,681,040
Cap Rate 7%
$1,200,743
Cap Rate 9%
$933,911
Alternative Uses
Best Use
Multifamily LT 5
$1.20M
$1.05M – $1.40M
NOI $84,052 @ 7.0% cap · market cap 7.68%
Second Best
Apartment 5plus
$1.05M
$915.9K – $1.22M
NOI $73,270 @ 7.0% cap · market cap 6.69%
Theoretical Best
Specialty Retail
$1.99M
$1.74M – $2.32M
NOI $139,104 @ 7.0% cap · market cap 12.70%
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
4,807
Businesses Nearby
Explore this area
Business Placement
Demographics for 11213, NY
67,217
Population
29,186
Households
2.3
Avg Household Size
34
Median Age
34%
College-Educated
84%
High-School Grad
1.1 sq mi
ZIP Area
61,106
Density / Sq Mi
$62,040
Median Household Income
$43,736
Median Earnings
$1,607
Median Rent
$1,184,400
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 property with a full basement, rear yard, and R6 zoning.
Where is this triplex located?
The property is located at 111 Schenectady Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,095,000.
What are key features of this property?
This property features: Fully detached three‑family property; 23x100 lot with R6 zoning; Full basement and spacious rear yard
