Triplex with Finished
New
For Sale
$1,658,000
145 Bay 11th St, Brooklyn, NY 11228
Three residential units feature renovated kitchens and separate heating systems.
Property Size2,369 SF
Days on Market4
Property Features for 145 Bay 11th St
General Information
Standard status
Active
Size
2,369 SF
Property subtype
Multi Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$1,022
Building Details
Building Size
2,369 SF
Year Built
1905
Buildings
1
Stories
3
Listing Agency:
Womcore LLC dba Remax Edge
(718) 612-3088
Listed By:
Rong Feng Li · License #RFL8266
(718) 612-3088
Source:
Elliman
Added: Aug 13
Changed: Aug 14
Last Checked: Aug 16 at 4:54AM
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 Womcore LLC dba Remax Edge
Investment Insights
Based on property information with market context.
This three-family property in Brooklyn’s Dyker Park area was built in 1905 and includes distinct residential layouts across the first, second, and third floors. The first and second floors each contain three bedrooms, a living room, and a full bathroom. The upper floor offers two bedrooms, a living room, and a full bathroom. A high-ceiling finished basement with a separate side entrance adds usable space and includes an additional full bathroom.
Recent property improvements include three separate boilers and furnaces, updated flooring, and renovated kitchens. The home is within a short distance of the D train and near the 86th Street commercial district, with access to the Belt Parkway and I-278. Walk Score is 85, Transit Score is 73, and Bike Score is 59.
Recent property improvements include three separate boilers and furnaces, updated flooring, and renovated kitchens. The home is within a short distance of the D train and near the 86th Street commercial district, with access to the Belt Parkway and I-278. Walk Score is 85, Transit Score is 73, and Bike Score is 59.
Key Highlights
- Three‑family building with three residential units
- First and second floors each offer 3 bedrooms, living room, and full bathroom
- Third floor includes 2 bedrooms, living room, and full bathroom
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
$82,966
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
5.00%
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%
$1,659,320
$1.7M
Cap Rate 7%
$1,185,229
$1.2M
Cap Rate 9%
$921,844
$921.8K
Market Conditions
NOI Build-Up for 2,369 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
$120.8K $51.00/SF
− Vacancy
−$2.3K −$0.97/SF
EGI
$118.5K $50.03/SF
− OpEx
−$35.6K −$15.01/SF
NOI
$83.0K $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%
$1,659,320
Cap Rate 7%
$1,185,229
Cap Rate 9%
$921,844
Alternative Uses
Best Use
Multifamily LT 5
$1.19M
$1.04M – $1.38M
NOI $82,966 @ 7.0% cap · market cap 5.00%
Second Best
Apartment 5plus
$1.03M
$904.0K – $1.21M
NOI $72,323 @ 7.0% cap · market cap 4.36%
Theoretical Best
Specialty Retail
$1.96M
$1.72M – $2.29M
NOI $137,307 @ 7.0% cap · market cap 8.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,948
Businesses Nearby
Explore this area
Business Placement
Demographics for 11228, NY
45,906
Population
16,336
Households
2.8
Avg Household Size
41
Median Age
37%
College-Educated
80%
High-School Grad
1.5 sq mi
ZIP Area
30,604
Density / Sq Mi
$80,737
Median Household Income
$47,062
Median Earnings
$1,828
Median Rent
$1,131,700
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 - Three residential units feature renovated kitchens and separate heating systems.
Where is this triplex located?
The property is located at 145 Bay 11th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,658,000.
What are key features of this property?
This property features: Three‑family building with three residential units; First and second floors each offer 3 bedrooms, living room, and full bathroom; Third floor includes 2 bedrooms, living room, and full bathroom
