Triplex with Three Floor Unit
For Sale
$1,650,000
240 67th St, Brooklyn, NY 11220
Fully vacant three-unit dwelling set up across three floors with one-, two-, and three-bedroom units.
Property Size2,952 SF
Days on Market17
Property Features for 240 67th St
General Information
Standard status
Active
Size
2,952 SF
Property subtype
Multi Family
Building Details
Building Size
2,952 SF
Year Built
1910
Stories
3
Tenancy
Multi
Listing Agency:
Jalen Real Estate Corp
(718) 439-6464
Listed By:
Nina Atayants
(718) 439-6464
Source:
Elliman
Added: Jul 28
Changed: Jul 30
Last Checked: Aug 12 at 10:08AM
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 Jalen Real Estate Corp
Investment Insights
Based on property information with market context.
This fully vacant triplex is configured across three floors and currently includes three bedrooms-based units: a one-bedroom, a two-bedroom, and a three-bedroom. The property is noted as a three-unit multi-family dwelling that has been used as two, offering a clear configuration to review in conjunction with the existing layout.
Built in 1910, the building provides a compact, vertical residential setup with multiple bedroom counts on separate levels. It also has strong walk and transit scores, with a Walk Score of 96, a Transit Score of 91, and a Bike Score of 81, which can support tenant lifestyle needs for nearby daily errands and commutes.
The absence of financial information is tied to the property being vacant, so buyers may want to underwrite their own leasing assumptions based on the unit configuration and bedroom mix.
Built in 1910, the building provides a compact, vertical residential setup with multiple bedroom counts on separate levels. It also has strong walk and transit scores, with a Walk Score of 96, a Transit Score of 91, and a Bike Score of 81, which can support tenant lifestyle needs for nearby daily errands and commutes.
The absence of financial information is tied to the property being vacant, so buyers may want to underwrite their own leasing assumptions based on the unit configuration and bedroom mix.
Key Highlights
- Fully vacant three‑unit multi‑family dwelling used as two
- Three floors with one‑bedroom, two‑bedroom, and three‑bedroom unit layout
- Bike Score 81, very bikeable
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
$87,895
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
5.33%
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%
$1,757,900
$1.8M
Cap Rate 7%
$1,255,643
$1.3M
Cap Rate 9%
$976,611
$976.6K
Market Conditions
NOI Build-Up for 2,952 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
$131.1K $44.40/SF
− Vacancy
−$5.5K −$1.86/SF
EGI
$125.6K $42.54/SF
− OpEx
−$37.7K −$12.76/SF
NOI
$87.9K $29.77/SF
Area
ZIP 11220
Vacancy
4.20%
Lease Rate
$44.40 /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%
$1,757,900
Cap Rate 7%
$1,255,643
Cap Rate 9%
$976,611
Alternative Uses
Best Use
Multifamily LT 5
$1.26M
$1.10M – $1.46M
NOI $87,895 @ 7.0% cap · market cap 5.33%
Second Best
Apartment 5plus
$1.12M
$984.0K – $1.31M
NOI $78,720 @ 7.0% cap · market cap 4.77%
Theoretical Best
Office A
$1.91M
$1.67M – $2.23M
NOI $133,959 @ 7.0% cap · market cap 8.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,031
Businesses Nearby
Explore this area
Business Placement
Demographics for 11220, NY
105,797
Population
30,897
Households
3.4
Avg Household Size
35
Median Age
25%
College-Educated
62%
High-School Grad
1.7 sq mi
ZIP Area
62,234
Density / Sq Mi
$64,201
Median Household Income
$31,489
Median Earnings
$1,688
Median Rent
$1,021,200
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 - Fully vacant three-unit dwelling set up across three floors with one-, two-, and three-bedroom units.
Where is this triplex located?
The property is located at 240 67th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Fully vacant three‑unit multi‑family dwelling used as two; Three floors with one‑bedroom, two‑bedroom, and three‑bedroom unit layout; Bike Score 81, very bikeable
