Brick Triplex with
For Sale
$1,889,000
116 Bay 10th St, Brooklyn, NY 11228
Three residential units include two-bedroom layouts and a three-bedroom top-floor apartment.
Property Size2,000 SF
Lot Size0.05 Acres
Days on Market10
Property Features for 116 Bay 10th St
General Information
Standard status
Active
Size
2,000 SF
Total Parking Spaces
2
Lot size
0.05 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$11,139
Building Details
Building Size
2,000 SF
Year Built
1940
Buildings
1
Stories
3
Construction
brick
Tenancy
Multi
Listing Agency:
Century 21 Realty First
(718) 758-5838
Listed By:
Anthony Frazzetta · License #KNM9509
(718) 758-5838
Source:
Elliman
Added: Aug 2
Changed: Aug 9
Last Checked: Aug 10 at 6:07AM
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 Realty First
Investment Insights
Based on property information with market context.
This semi-detached brick triplex, built in 1940, contains three residential units and a shared driveway leading to a two-car garage. The walk-in apartment and first-floor residence each feature two bedrooms, a separate living room, dining area, and kitchen. The upper-level apartment provides three bedrooms along with its own living room, dining area, and kitchen.
The building measures 20 feet by 54 feet and occupies a 24-foot by 96.67-foot lot. Located in the Bath Beach/Dyker Heights area, the property is near Dyker Beach Park, B1 bus stops, express bus service to the city, and shopping and convenience stores along 86th Street. Walk Score is 85, Transit Score is 73, and Bike Score is 59.
The building measures 20 feet by 54 feet and occupies a 24-foot by 96.67-foot lot. Located in the Bath Beach/Dyker Heights area, the property is near Dyker Beach Park, B1 bus stops, express bus service to the city, and shopping and convenience stores along 86th Street. Walk Score is 85, Transit Score is 73, and Bike Score is 59.
Key Highlights
- Three‑family semi‑detached brick building constructed in 1940
- 20 ft x 54 ft building on a 24 ft x 96.67 ft lot
- Shared driveway with a two‑car garage
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
$70,043
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
3.71%
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%
$1,400,860
$1.4M
Cap Rate 7%
$1,000,614
$1.0M
Cap Rate 9%
$778,256
$778.3K
Market Conditions
NOI Build-Up for 2,000 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
$102.0K $51.00/SF
− Vacancy
−$1.9K −$0.97/SF
EGI
$100.1K $50.03/SF
− OpEx
−$30.0K −$15.01/SF
NOI
$70.0K $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%
$1,400,860
Cap Rate 7%
$1,000,614
Cap Rate 9%
$778,256
Alternative Uses
Best Use
Multifamily LT 5
$1.00M
$875.5K – $1.17M
NOI $70,043 @ 7.0% cap · market cap 3.71%
Second Best
Apartment 5plus
$872.3K
$763.2K – $1.02M
NOI $61,058 @ 7.0% cap · market cap 3.23%
Theoretical Best
Specialty Retail
$1.66M
$1.45M – $1.93M
NOI $115,920 @ 7.0% cap · market cap 6.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,948
Businesses Nearby
Explore this area
Business Placement
Demographics for 11228, NY
45,906
Population
16,336
Households
2.8
Avg Household Size
41
Median Age
37%
College-Educated
80%
High-School Grad
1.5 sq mi
ZIP Area
30,604
Density / Sq Mi
$80,737
Median Household Income
$47,062
Median Earnings
$1,828
Median Rent
$1,131,700
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 residential units include two-bedroom layouts and a three-bedroom top-floor apartment.
Where is this triplex located?
The property is located at 116 Bay 10th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,889,000.
What are key features of this property?
This property features: Three‑family semi‑detached brick building constructed in 1940; 20 ft x 54 ft building on a 24 ft x 96.67 ft lot; Shared driveway with a two‑car garage
