Brick Triplex with Fenced
New
For Sale
$1,299,000
1202 Bergen Avenue, Brooklyn, NY 11234
Residential, Brooklyn, NY
Property Size3,496 SF
Lot Size0.07 Acres
Price / SF$371.57
Days on Market4
Property Features for 1202 Bergen Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bedrooms
8
Bathrooms
3
Full bathrooms
3
Half bathrooms
1
Rooms
Bathroom 2, Bathroom 1, Bedroom 2, Bedroom 6, Bedroom 7, Bedroom 1, Bedroom 4, Bedroom 8, Bedroom 3, Bedroom 5, Bathroom 3
Parking features
Carport, Garage
Interior features
Refrigerator, Stove
Basement
Finished, Full
Subdivision
Georgetown
Standard status
Active
Size
3,496 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
11703
Amenities
fenced backyard
Building Details
Year built
1970
Floors in Building
3
Number of units
3
Flooring type
Ceramic, Hardwood
Building materials
Brick
Roof type
Flat
Listing Agency:
Real Broker NY LLC
(718) 256-4000
Listed By:
Eddie Anwar Arib
(718) 269-4598
Added: Sep 28
Changed: Sep 30
Last Checked: Oct 1 at 4:06PM
MLS# 504937
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1970, this brick triplex contains 3,496 square feet across three above-ground floors and a basement. The building measures 23 by 56 feet on a 32-by-100-foot lot, with a fenced backyard. Interior finishes include ceramic and hardwood flooring, and the property has a refrigerator and stove. Parking features include a carport and garage.
The corner property is zoned R5. The current tenants do not have leases.
The corner property is zoned R5. The current tenants do not have leases.
Key Highlights
- 3,496 square feet of living space
- Three floors above ground plus a basement
- Building measures 23 x 56 feet on a 32 x 100‑foot lot
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
$106,729
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
8.22%
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%
$2,134,580
$2.1M
Cap Rate 7%
$1,524,700
$1.5M
Cap Rate 9%
$1,185,878
$1.2M
Market Conditions
NOI Build-Up for 3,496 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
$198.0K $56.64/SF
− Vacancy
−$4.0K −$1.13/SF
EGI
$194.1K $55.51/SF
− OpEx
−$87.3K −$24.98/SF
NOI
$106.7K $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%
$2,134,580
Cap Rate 7%
$1,524,700
Cap Rate 9%
$1,185,878
Alternative Uses
Best Use
Multifamily LT 5
$1.75M
$1.53M – $2.04M
NOI $122,436 @ 7.0% cap · market cap 9.43%
Second Best
Apartment 5plus
$1.52M
$1.33M – $1.78M
NOI $106,729 @ 7.0% cap · market cap 8.22%
Theoretical Best
Specialty Retail
$2.89M
$2.53M – $3.38M
NOI $202,628 @ 7.0% cap · market cap 15.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 above-grade floors and a basement create a multi-level residential income property.
Where is this triplex located?
The property is located at 1202 Bergen Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: 3,496 square feet of living space; Three floors above ground plus a basement; Building measures 23 x 56 feet on a 32 x 100‑foot lot
