Three-Family Residential Income
For Sale
$2,495,000
125 Bay 29th St, Brooklyn, NY 11214
Legal 3-family home built in 2008 with a fully finished basement and independent utilities for each unit.
Property Size3,350 SF
Lot Size0.07 Acres
Days on Market37
Property Features for 125 Bay 29th St
General Information
Standard status
Active
Size
3,350 SF
Lot size
0.07 Acres
Property subtype
Multi Family
Additional Details
Clear Height
8 ft
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$13,760
Building Details
Building Size
3,350 SF
Year Built
2008
Stories
3
Listing Agency:
REMAX EDGE
(718) 612-3088
Listed By:
ChaoHui Andrew Chen · License #CAC7832
(718) 612-3088
Source:
Elliman
Added: Jul 21
Changed: Aug 24
Last Checked: Aug 25 at 7:30AM
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 REMAX EDGE
Investment Insights
Based on property information with market context.
This legal three-family residential income property was built in 2008 and has a Certificate of Occupancy issued in 2014. The building features three and a half levels above ground plus a fully finished basement. Unit layouts are as follows: the first floor offers three bedrooms and one bathroom; the second floor offers three bedrooms and two full bathrooms; and the third floor offers four bedrooms and two full bathrooms.
A fully finished basement is included with a separate entrance and an estimated 8-foot height. The property is set up for independence between units, with four separate heating systems, four hot water tanks, four electric meters, and four gas meters, along with split AC units. Full possession is granted at closing, and the property is described as move-in condition.
The building measures approximately 21' x 50' and sits on a lot measuring approximately 30' x 97'.
A fully finished basement is included with a separate entrance and an estimated 8-foot height. The property is set up for independence between units, with four separate heating systems, four hot water tanks, four electric meters, and four gas meters, along with split AC units. Full possession is granted at closing, and the property is described as move-in condition.
The building measures approximately 21' x 50' and sits on a lot measuring approximately 30' x 97'.
Key Highlights
- Legal 3‑family home built in 2008 with Certificate of Occupancy (C.O.) issued in 2014
- 3.5 floors above ground plus a fully finished basement with separate entrance and 8‑ft basement height
- Unit layout: 1st floor 3BR/1BA; 2nd floor 3BR/2BA; 3rd floor 4BR/2BA
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
$91,371
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
3.66%
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%
$1,827,420
$1.8M
Cap Rate 7%
$1,305,300
$1.3M
Cap Rate 9%
$1,015,233
$1.0M
Market Conditions
NOI Build-Up for 3,350 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
$136.7K $40.80/SF
− Vacancy
−$6.2K −$1.84/SF
EGI
$130.5K $38.96/SF
− OpEx
−$39.2K −$11.69/SF
NOI
$91.4K $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 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%
$1,827,420
Cap Rate 7%
$1,305,300
Cap Rate 9%
$1,015,233
Alternative Uses
Best Use
Multifamily LT 5
$1.31M
$1.14M – $1.52M
NOI $91,371 @ 7.0% cap · market cap 3.66%
Second Best
Apartment 5plus
$1.17M
$1.02M – $1.36M
NOI $81,889 @ 7.0% cap · market cap 3.28%
Theoretical Best
Office A
$1.95M
$1.71M – $2.28M
NOI $136,796 @ 7.0% cap · market cap 5.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8 ft
Clear height
3
Residential units
Location Intelligence
Trade Area within ½ mile
3,449
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
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 - Legal 3-family home built in 2008 with a fully finished basement and independent utilities for each unit.
Where is this triplex located?
The property is located at 125 Bay 29th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,495,000.
What are key features of this property?
This property features: Legal 3‑family home built in 2008 with Certificate of Occupancy (C.O.) issued in 2014; 3.5 floors above ground plus a fully finished basement with separate entrance and 8‑ft basement height; Unit layout: 1st floor 3BR/1BA; 2nd floor 3BR/2BA; 3rd floor 4BR/2BA
