Brooklyn Multifamily Building for
For Sale
Contact for pricing
1252 Myrtle Ave, Brooklyn, NY 11221
Free market building near subway with upside potential.
Property Size3,828 SF
Price / SF$626.96
Days on Market164
Property Features for 1252 Myrtle Ave
General Information
Standard status
Active
Size
3,828 SF
Property subtype
Multifamily
Zoning
R6
Building Details
Year Built
1931
Listing Agency:
Sinclair Realty Group
Listed By:
Romain Sinclair · License #10491213605
Source:
Crexi
Added: Mar 20
Changed: Aug 8
Last Checked: Aug 8 at 6:42AM
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 Sinclair Realty Group
Investment Insights
Based on property information with market context.
This is a free market, five-apartment over one storefront building located in Bushwick, Brooklyn. The property is situated half a city block from the subway trains (Central Avenue M), providing access to Manhattan within 20 minutes by train. All units are statutorily free market, and there is potential for increasing value by converting the units into larger layouts and leveraging subsidy rents. The property size is 3,828 square feet.
Key Highlights
- Prime Location: Half a block from the Central Avenue M subway, providing convenient access to Manhattan in under 20 minutes.
- Free Market Status: All five apartments are statutorily Free Market, offering flexibility in rental management.
- Value‑Add Potential: Opportunity to increase revenue by converting units into larger layouts.
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
$116,865
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
4.87%
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%
$2,337,300
$2.3M
Cap Rate 7%
$1,669,500
$1.7M
Cap Rate 9%
$1,298,500
$1.3M
Market Conditions
NOI Build-Up for 3,828 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
$216.8K $56.64/SF
− Vacancy
−$4.3K −$1.13/SF
EGI
$212.5K $55.51/SF
− OpEx
−$95.6K −$24.98/SF
NOI
$116.9K $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%
$2,337,300
Cap Rate 7%
$1,669,500
Cap Rate 9%
$1,298,500
Alternative Uses
Best Use
Apartment 5plus
$1.67M
$1.46M – $1.95M
NOI $116,865 @ 7.0% cap · market cap 4.87%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.17M
$2.77M – $3.70M
NOI $221,871 @ 7.0% cap · market cap 9.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,013
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?
Apartment building - Free market building near subway with upside potential.
Where is this apartment building located?
The property is located at 1252 Myrtle Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: Prime Location: Half a block from the Central Avenue M subway, providing convenient access to Manhattan in under 20 minutes.; Free Market Status: All five apartments are statutorily Free Market, offering flexibility in rental management.; Value‑Add Potential: Opportunity to increase revenue by converting units into larger layouts.
