Legal Three-Family Brick
For Sale
$2,500,000
Pending
360 3rd Street, Brooklyn, NY 11211
Built in 2000 and expanded in 2011, this three-family brick townhouse offers multiple balconies and off-street parking.
Property Size4,960 SF
Days on Market635
Property Features for 360 3rd Street
General Information
Standard status
Pending
Size
4,960 SF
Total Parking Spaces
3
Property subtype
Multi Family
Additional Details
Business Included
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$7,992
Building Details
Year Built
2000
Year Renovated
2011
Stories
4
Listing Agency:
Keller Williams Realty Empire
Listed By:
Ethan A. Karavani
(718) 954-8400
Source:
Exitrealty
Added: Dec 9, 2024
Changed: Sep 4
Last Checked: Sep 5 at 7:00AM
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 Keller Williams Realty Empire
Investment Insights
Based on property information with market context.
Built in 2000 and renovated and expanded in 2011, this legal three-family brick townhouse provides a flexible residential layout across approximately 4,960 square feet, with an upward extension adding about 1,200 square feet. The first floor features a two-bedroom, two-bath apartment with a large living room and open kitchen. The second floor is another two-bedroom, two-bath unit with a similar open kitchen and living room, plus a private balcony. The third and fourth floors offer a three-bedroom, four-bath duplex with expansive living spaces and a private balcony. A shared rooftop accessible via a common hallway adds additional outdoor space for entertaining or relaxing, and there is a fully finished basement that can support storage, a gym, a home office, or other accessory use. A gated private driveway provides off-street parking for up to three vehicles.
Located in Williamsburg, Brooklyn, the property is described as being about three blocks from the Hewes Street M and J subway lines and about three blocks from the Williamsburg Bridge, with the Lorimer Street L train about seven blocks away.
This configuration suits tenants or buyers seeking either owner-occupied living with rental income or a fully investment-oriented approach, with each level offering self-contained apartment layouts and private outdoor access. The combination of multiple balconies, shared rooftop use, and private off-street parking supports a broad range of household needs.
Located in Williamsburg, Brooklyn, the property is described as being about three blocks from the Hewes Street M and J subway lines and about three blocks from the Williamsburg Bridge, with the Lorimer Street L train about seven blocks away.
This configuration suits tenants or buyers seeking either owner-occupied living with rental income or a fully investment-oriented approach, with each level offering self-contained apartment layouts and private outdoor access. The combination of multiple balconies, shared rooftop use, and private off-street parking supports a broad range of household needs.
Key Highlights
- Legal three‑family brick townhouse built in 2000 and renovated/expanded in 2011
- Approximately 4,960 SF total with a 1,200 sq ft upward extension
- Gated private driveway with off‑street parking for up to three vehicles
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
$173,708
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
6.95%
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%
$3,474,160
$3.5M
Cap Rate 7%
$2,481,543
$2.5M
Cap Rate 9%
$1,930,089
$1.9M
Market Conditions
NOI Build-Up for 4,960 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
$253.0K $51.00/SF
− Vacancy
−$4.8K −$0.97/SF
EGI
$248.2K $50.03/SF
− OpEx
−$74.4K −$15.01/SF
NOI
$173.7K $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%
$3,474,160
Cap Rate 7%
$2,481,543
Cap Rate 9%
$1,930,089
Alternative Uses
Best Use
Multifamily LT 5
$2.48M
$2.17M – $2.90M
NOI $173,708 @ 7.0% cap · market cap 6.95%
Second Best
Apartment 5plus
$2.16M
$1.89M – $2.52M
NOI $151,424 @ 7.0% cap · market cap 6.06%
Theoretical Best
Specialty Retail
$4.11M
$3.59M – $4.79M
NOI $287,482 @ 7.0% cap · market cap 11.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
8,071
Businesses Nearby
Explore this area
Business Placement
Demographics for 11211, NY
68,540
Population
29,068
Households
2.4
Avg Household Size
31
Median Age
55%
College-Educated
86%
High-School Grad
1.5 sq mi
ZIP Area
45,693
Density / Sq Mi
$105,183
Median Household Income
$67,533
Median Earnings
$2,357
Median Rent
$1,118,600
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 - Built in 2000 and expanded in 2011, this three-family brick townhouse offers multiple balconies and off-street parking.
Where is this triplex located?
The property is located at 360 3rd Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Legal three‑family brick townhouse built in 2000 and renovated/expanded in 2011; Approximately 4,960 SF total with a 1,200 sq ft upward extension; Gated private driveway with off‑street parking for up to three vehicles
