Spacious Brooklyn Triplex Near
For Sale
$1,749,000
Pending
8820 Bay 16th Street, Brooklyn, NY 11214
Large triplex near transportation and shopping in Brooklyn.
Property Size3,500 SF
Days on Market652
Property Features for 8820 Bay 16th Street
General Information
Standard status
Pending
Size
3,500 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$8,154
Building Details
Year Built
1920
Listing Agency:
Real Broker NY LLC
(718) 256-4000
Listed By:
Franklin Shan · License #FS1500
(718) 269-4598
Source:
Exitrealty
Added: Dec 29, 2024
Changed: Oct 6
Last Checked: Oct 5 at 4:15PM
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 is a large, approximately 3,500-square-foot, three-family house situated on a lot of about 4,000 square feet. The first floor features three bedrooms of a good size with the potential to convert into four bedrooms, a living room, a dining area, and two bathrooms. The second floor has two bedrooms and can easily be converted into three. The third floor is set up with two bedrooms and a living room. The property is located within an excellent school zone and offers convenient access to transportation, including the X bus directly to Manhattan, which is located around the corner. It is also located just five blocks from three large Chinese supermarkets and various shopping and dining options on 86th Street. This property is located in Brooklyn, New York.
Key Highlights
- Large 3‑family house (approx. 3500 sqft) on a 4000 sqft lot.
- Excellent school zoning.
- Convenient access to transportation, including X BUS directly to Manhattan.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$95,462
Cap Rate
5.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,909,240
$1.9M
Cap Rate 7%
$1,363,743
$1.4M
Cap Rate 9%
$1,060,689
$1.1M
Market Conditions
NOI Build-Up for 3,500 SF
Gross rent
$142.8K $40.80/SF
− Vacancy
−$6.4K −$1.84/SF
EGI
$136.4K $38.96/SF
− OpEx
−$40.9K −$11.69/SF
NOI
$95.5K $27.27/SF
Area
ZIP 11214
Vacancy
4.50%
Lease Rate
$40.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,909,240
Cap Rate 7%
$1,363,743
Cap Rate 9%
$1,060,689
Alternative Uses
Best Use
Multifamily LT 5
$1.36M
$1.19M – $1.59M
NOI $95,462 @ 7.0% cap · market cap 5.46%
Second Best
Apartment 5plus
$1.22M
$1.07M – $1.43M
NOI $85,555 @ 7.0% cap · market cap 4.89%
Theoretical Best
Office A
$2.04M
$1.79M – $2.38M
NOI $142,921 @ 7.0% cap · market cap 8.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,330
Businesses Nearby
Explore this area
Business Placement
Demographics for 11214, NY
96,560
Population
33,341
Households
2.9
Avg Household Size
39
Median Age
32%
College-Educated
76%
High-School Grad
2.0 sq mi
ZIP Area
48,280
Density / Sq Mi
$64,286
Median Household Income
$41,172
Median Earnings
$1,710
Median Rent
$1,007,400
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?
Multifamily property - Large triplex near transportation and shopping in Brooklyn.
Where is this multifamily property located?
The property is located at 8820 Bay 16th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,749,000.
What are key features of this property?
This property features: Large 3‑family house (approx. 3500 sqft) on a 4000 sqft lot.; Excellent school zoning.; Convenient access to transportation, including X BUS directly to Manhattan.
