Triplex Home with Attached
For Sale
$1,488,888
1166 Bergen Avenue, Brooklyn, NY 11234
Three-family property with landscaped outdoor space, a deck, above-ground pool, and unfinished basement storage.
Property Size3,146 SF
Days on Market17
Property Features for 1166 Bergen Avenue
General Information
Standard status
Active
Size
3,146 SF
Total Parking Spaces
1
Property subtype
Residential Income
Site & Location
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 3BR/1.5BA, 1 x 1BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$8,984
Amenities
pool
deck
landscaped grounds
Building Details
Building Size
3,146 SF
Year Built
1970
Buildings
1
Units
3
Listing Agency:
Real Broker NY LLC
(516) 457-6192
Listed By:
Domenic Brocco
(516) 457-6192
Source:
Cohenandcohenrealty
Added: Jul 28
Changed: Aug 12
Last Checked: Aug 13 at 1:52PM
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 Real Broker NY LLC
Investment Insights
Based on property information with market context.
This 1970 triplex includes two upper-level apartments with 3 bedrooms and 1.5 bathrooms each, plus a ground-floor 1-bedroom, 1-bathroom unit. The property also offers a full unfinished basement and a 1-car attached garage for storage and utility. Natural gas heating has been recently serviced and inspected.
Outdoor features include landscaped grounds, a spacious deck, and a brand-new above-ground pool. The property is located at 1166 Bergen Avenue in Brooklyn’s Bergen Beach area, near parks, shopping, dining, and transportation.
Outdoor features include landscaped grounds, a spacious deck, and a brand-new above-ground pool. The property is located at 1166 Bergen Avenue in Brooklyn’s Bergen Beach area, near parks, shopping, dining, and transportation.
Key Highlights
- Two upper apartments each offer 3 bedrooms and 1.5 bathrooms
- Ground‑level unit includes 1 bedroom and 1 bathroom
- Full unfinished basement and 1‑car attached 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
$110,178
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
7.40%
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%
$2,203,560
$2.2M
Cap Rate 7%
$1,573,971
$1.6M
Cap Rate 9%
$1,224,200
$1.2M
Market Conditions
NOI Build-Up for 3,146 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
$160.4K $51.00/SF
− Vacancy
−$3.0K −$0.97/SF
EGI
$157.4K $50.03/SF
− OpEx
−$47.2K −$15.01/SF
NOI
$110.2K $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%
$2,203,560
Cap Rate 7%
$1,573,971
Cap Rate 9%
$1,224,200
Alternative Uses
Best Use
Multifamily LT 5
$1.57M
$1.38M – $1.84M
NOI $110,178 @ 7.0% cap · market cap 7.40%
Second Best
Apartment 5plus
$1.37M
$1.20M – $1.60M
NOI $96,044 @ 7.0% cap · market cap 6.45%
Theoretical Best
Specialty Retail
$2.60M
$2.28M – $3.04M
NOI $182,342 @ 7.0% cap · market cap 12.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,446
Businesses Nearby
Explore this area
Business Placement
Demographics for 11234, NY
92,133
Population
35,167
Households
2.6
Avg Household Size
41
Median Age
39%
College-Educated
89%
High-School Grad
7.4 sq mi
ZIP Area
12,450
Density / Sq Mi
$94,434
Median Household Income
$55,206
Median Earnings
$1,771
Median Rent
$746,800
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 landscaped outdoor space, a deck, above-ground pool, and unfinished basement storage.
Where is this triplex located?
The property is located at 1166 Bergen Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,488,888.
What are key features of this property?
This property features: Two upper apartments each offer 3 bedrooms and 1.5 bathrooms; Ground‑level unit includes 1 bedroom and 1 bathroom; Full unfinished basement and 1‑car attached garage
