Building Details

Building Size 3,715 SF

Year Built 1899

Units 2

Listed By: Ali Ebrahimi Show Phone

Source: Elliman

Added: Nov 28, 2025 Changed: Oct 5 Last Checked: Oct 7 at 2:41PM

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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 Ali Ebrahimi

Investment Insights

Based on property information with market context.

A multifamily property located at 220 Lewis Ave in Brooklyn, NY 11221 is available for sale. The list price is $2,200,000.

Key Highlights

• Year Built: 1899

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$113,415

Cap Rate

5.16%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,268,300 $2.3M

Cap Rate 7%

$1,620,214 $1.6M

Cap Rate 9%

$1,260,167 $1.3M

Market Conditions

NOI Build-Up for 3,715 SF

Gross rent

$210.4K $56.64/SF

− Vacancy

−$4.2K −$1.13/SF

EGI

$206.2K $55.51/SF

− OpEx

−$92.8K −$24.98/SF

NOI

$113.4K $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 Rate 5%

$2,268,300

Cap Rate 7%

$1,620,214

Cap Rate 9%

$1,260,167

Alternative Uses

Best Use

Apartment 5plus

$1.62M

$1.42M – $1.89M (±1% cap)

NOI $113,415 @ 7.0% cap · market cap 5.16%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$3.08M

$2.69M – $3.59M (±1% cap)

NOI $215,321 @ 7.0% cap · market cap 9.79%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Multifamily properties

Suggested Use

Top Pick Law Firm Parking Lot & Garage Dental Office Real Estate Agency Auto Parts Store Skin Care Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

4,302

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

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this multifamily properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Multifamily property - Multifamily property available in Brooklyn, New York.

Where is this multifamily property located?

The property is located at 220 Lewis Ave Brooklyn, NY.

What is the asking price?

The asking price for this property is $2,200,000.

What are key features of this property?

This property features: Year Built: 1899