Three-Family Semi-Detached
For Sale
$1,599,999
Pending
2622 Avenue Y, Brooklyn, NY 11235
Three-unit semi-detached home with two-car driveway, finished basement, and multiple separate entrances.
Property Size3,000 SF
Lot Size0.06 Acres
Days on Market124
Property Features for 2622 Avenue Y
General Information
Standard status
Pending
Size
3,000 SF
Total Parking Spaces
2
Lot size
0.06 Acres
Property subtype
Multi Family
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$11,056
Building Details
Building Size
3,000 SF
Stories
3
Listing Agency:
Maximillion Realty, Inc.
(718) 376-9300
Listed By:
Alla Veksler
(718) 376-9300
Source:
Elliman
Added: Apr 28
Changed: Aug 28
Last Checked: Aug 29 at 12:20PM
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 Maximillion Realty, Inc.
Investment Insights
Based on property information with market context.
This three-family semi-detached home offers two stories plus a finished basement, providing three separate apartments. The first floor includes a spacious layout with private entrances into a three-bedroom and one-and-a-half-bath unit, along with an eat-in kitchen featuring stainless steel appliances. The second floor has two separate two-bedroom units, each with its own private entrance. The finished basement includes a bath and can serve as additional living space or an office, based on how it is configured.
The property sits on a 25-by-100 lot and is located in the Sheepshead Bay area near major transportation, shopping, schools, and parks. Off-street parking is provided via a two-car driveway, and the home has four electric meters and three gas meters.
The building is described as being in great condition and includes multiple private entry points for each unit, supporting day-to-day separation of tenants.
The property sits on a 25-by-100 lot and is located in the Sheepshead Bay area near major transportation, shopping, schools, and parks. Off-street parking is provided via a two-car driveway, and the home has four electric meters and three gas meters.
The building is described as being in great condition and includes multiple private entry points for each unit, supporting day-to-day separation of tenants.
Key Highlights
- Three‑family semi‑detached home with finished basement on a 25x100 property
- About 20x68 ft of living space across multiple units with several private entrances
- First‑floor apartment has 3 bedrooms and 1.5 baths, plus an eat‑in kitchen with stainless steel appliances
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
$105,065
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
6.57%
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%
$2,101,300
$2.1M
Cap Rate 7%
$1,500,929
$1.5M
Cap Rate 9%
$1,167,389
$1.2M
Market Conditions
NOI Build-Up for 3,000 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
$153.0K $51.00/SF
− Vacancy
−$2.9K −$0.97/SF
EGI
$150.1K $50.03/SF
− OpEx
−$45.0K −$15.01/SF
NOI
$105.1K $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%
$2,101,300
Cap Rate 7%
$1,500,929
Cap Rate 9%
$1,167,389
Alternative Uses
Best Use
Multifamily LT 5
$1.50M
$1.31M – $1.75M
NOI $105,065 @ 7.0% cap · market cap 6.57%
Second Best
Apartment 5plus
$1.31M
$1.14M – $1.53M
NOI $91,587 @ 7.0% cap · market cap 5.72%
Theoretical Best
Specialty Retail
$2.48M
$2.17M – $2.90M
NOI $173,880 @ 7.0% cap · market cap 10.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
4,674
Businesses Nearby
Explore this area
Business Placement
Demographics for 11235, NY
88,482
Population
37,188
Households
2.4
Avg Household Size
44
Median Age
50%
College-Educated
90%
High-School Grad
2.5 sq mi
ZIP Area
35,393
Density / Sq Mi
$61,689
Median Household Income
$48,898
Median Earnings
$1,649
Median Rent
$723,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit semi-detached home with two-car driveway, finished basement, and multiple separate entrances.
Where is this triplex located?
The property is located at 2622 Avenue Y Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,599,999.
What are key features of this property?
This property features: Three‑family semi‑detached home with finished basement on a 25x100 property; About 20x68 ft of living space across multiple units with several private entrances; First‑floor apartment has 3 bedrooms and 1.5 baths, plus an eat‑in kitchen with stainless steel appliances
