Three-Family Residential
For Sale
$1,200,000
1139 Hancock Street, Brooklyn, NY 11221
Three-family income property with new sewer line and additional buildable area for an owner-architect plan.
Property Size3,300 SF
Price / SF$363.64
Days on Market60
Property Features for 1139 Hancock Street
General Information
Standard status
Active
Size
3,300 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$3,327
Building Details
Building Size
3,300 SF
Year Built
1910
Listing Agency:
Compass
(917) 572-2583
Listed By:
Delson Ronit Abraham
(917) 572-2583
Source:
Miradorrealestate
Added: Jul 3
Changed: Aug 27
Last Checked: Aug 30 at 9:51PM
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 offering is for a three-family residential building in Brooklyn, configured as a triplex. The current built area is 2,700 sq. ft., with a maximum buildable area of 4,400 sq. ft. That leaves approximately 1,700 sq. ft. of additional buildable space. The sewer line is reported as new, supporting future renovation or expansion plans.
The property is offered together with 1098 Jefferson Avenue, and the two assets are being sold as a package. The listing notes that cash buyers only.
For tenants, the three-unit configuration can support diversified household occupancy within one building. For buyers and operators, the combination of an existing multi-family structure and remaining buildable area may appeal to an owner bringing an architect to evaluate renovation and expansion options. The property’s Walk Score of 82 and Transit Score of 84, along with a Bike Score of 70, indicate a walkable and transit-accessible setting for everyday commuting and errands.
The property is offered together with 1098 Jefferson Avenue, and the two assets are being sold as a package. The listing notes that cash buyers only.
For tenants, the three-unit configuration can support diversified household occupancy within one building. For buyers and operators, the combination of an existing multi-family structure and remaining buildable area may appeal to an owner bringing an architect to evaluate renovation and expansion options. The property’s Walk Score of 82 and Transit Score of 84, along with a Bike Score of 70, indicate a walkable and transit-accessible setting for everyday commuting and errands.
Key Highlights
- Three‑family income property at 1139 Hancock St, built in 1910
- Package sale with 1098 Jefferson Avenue for $2,550,000 (cash buyers only)
- Current built area: 2,700 sq. ft.; additional buildable area: 1,700 sq. ft.; max buildable area: 4,400 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
$100,746
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
8.40%
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%
$2,014,920
$2.0M
Cap Rate 7%
$1,439,229
$1.4M
Cap Rate 9%
$1,119,400
$1.1M
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
$186.9K $56.64/SF
− Vacancy
−$3.7K −$1.13/SF
EGI
$183.2K $55.51/SF
− OpEx
−$82.4K −$24.98/SF
NOI
$100.7K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /SF/Yr
Expense Ratio
45.00%
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%
$2,014,920
Cap Rate 7%
$1,439,229
Cap Rate 9%
$1,119,400
Alternative Uses
Best Use
Multifamily LT 5
$1.65M
$1.44M – $1.93M
NOI $115,572 @ 7.0% cap · market cap 9.63%
Second Best
Apartment 5plus
$1.44M
$1.26M – $1.68M
NOI $100,746 @ 7.0% cap · market cap 8.40%
Theoretical Best
Specialty Retail
$2.73M
$2.39M – $3.19M
NOI $191,268 @ 7.0% cap · market cap 15.94%
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
3,398
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three-family income property with new sewer line and additional buildable area for an owner-architect plan.
Where is this triplex located?
The property is located at 1139 Hancock Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Three‑family income property at 1139 Hancock St, built in 1910; Package sale with 1098 Jefferson Avenue for $2,550,000 (cash buyers only); Current built area: 2,700 sq. ft.; additional buildable area: 1,700 sq. ft.; max buildable area: 4,400 sq. ft.
