Bushwick Brownstone
For Sale
$1,800,000
Pending
1181 BUSHWICK Ave, Brooklyn, NY 11221
Gorgeously maintained 3-family brownstone in prime Bushwick location.
Property Size980 SF
Lot Size0.08 Acres
Days on Market156
Property Features for 1181 BUSHWICK Ave
General Information
Standard status
Pending
Size
980 SF
Lot size
0.08 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$4,308
Building Details
Building Size
980 SF
Year Built
1899
Units
2
Listing Agency:
Brooklyn Real Property Inc.
(718) 713-6888
Listed By:
Jean Paul Ho
Source:
Elliman
Added: Mar 11
Changed: Aug 8
Last Checked: Aug 8 at 6:23AM
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 Brooklyn Real Property Inc.
Investment Insights
Based on property information with market context.
This semi-attached brownstone is a legal 3-family property delivered vacant in Bushwick. The three-level home, plus a fully finished basement, has been restored with architectural details throughout. Each of the three separate apartments features 3 bedrooms, a full bath, and an eat-in kitchen. The building measures 20 ft x 49 ft on a 33 ft x 100 ft lot, zoned R6, with 5,973 sq ft of unused FAR, offering potential for expansion or development. It features 12 ft ceilings, original moldings, parquet flooring, and tile work. Each floor has generously sized bedrooms with natural light and closet space. The fully finished basement includes a bath and a separate entrance, suitable for guests, a rec room, or an office. A new gas hot water heater and laundry room are present. The property includes a private gated driveway with a freestanding 3-car garage. It is located minutes from subway stations, restaurants, and shopping. Closing is scheduled for 2026.
Key Highlights
- Delivered Vacant Legal 3‑Family Brownstone: Rare opportunity for income or conversion.
- Prime Bushwick Location: Close to everything in a rapidly appreciating area.
- Huge 3‑Car Garage & Private Gated Driveway: Secure parking and storage in Brooklyn.
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
$102,964
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
5.72%
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%
$2,059,280
$2.1M
Cap Rate 7%
$1,470,914
$1.5M
Cap Rate 9%
$1,144,044
$1.1M
Market Conditions
NOI Build-Up for 2,940 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
$149.9K $51.00/SF
− Vacancy
−$2.8K −$0.97/SF
EGI
$147.1K $50.03/SF
− OpEx
−$44.1K −$15.01/SF
NOI
$103.0K $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%
$2,059,280
Cap Rate 7%
$1,470,914
Cap Rate 9%
$1,144,044
Alternative Uses
Best Use
Multifamily LT 5
$1.47M
$1.29M – $1.72M
NOI $102,964 @ 7.0% cap · market cap 5.72%
Second Best
Apartment 5plus
$1.28M
$1.12M – $1.50M
NOI $89,755 @ 7.0% cap · market cap 4.99%
Theoretical Best
Specialty Retail
$2.43M
$2.13M – $2.84M
NOI $170,402 @ 7.0% cap · market cap 9.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,267
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
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Frequently Asked Questions
What type of property is this?
Triplex - Gorgeously maintained 3-family brownstone in prime Bushwick location.
Where is this triplex located?
The property is located at 1181 BUSHWICK Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Delivered Vacant Legal 3‑Family Brownstone: Rare opportunity for income or conversion.; Prime Bushwick Location: Close to everything in a rapidly appreciating area.; Huge 3‑Car Garage & Private Gated Driveway: Secure parking and storage in Brooklyn.
