Detached Brick Triplex with
For Sale
$1,995,000
11 Mackay Pl, Brooklyn, NY 11209
Three-family residence with a private driveway, backyard, and access to waterfront recreation and regional transit.
Property Size3,055 SF
Days on Market10
Property Features for 11 Mackay Pl
General Information
Standard status
Active
Size
3,055 SF
Total Parking Spaces
1
Property subtype
Multi Family
Units
Unit Mix
2 x 2BR, 1 x 1BR
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$11,627
Amenities
private driveway
garage
ultra-private backyard
Building Details
Building Size
3,055 SF
Year Built
1925
Buildings
1
Stories
3
Construction
solid-brick
Listing Agency:
Remax Real Estate Professionals
(718) 532-2000
Listed By:
Vito Angelo · License #VITLO524
(718) 532-2000
Source:
Elliman
Added: Aug 17
Changed: Aug 24
Last Checked: Aug 25 at 11:55AM
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 Real Estate Professionals
Investment Insights
Based on property information with market context.
This detached, solid-brick triplex was built in 1925 and is arranged as two two-bedroom units above a one-bedroom unit. The property includes a private driveway, one-car garage, and secluded backyard, providing a combination of residential functionality and outdoor space. With 1,520 of property size, the building offers a compact multifamily configuration suited to an owner seeking multiple residential units in one structure.
The property is located in Bay Ridge near the Shore Road promenade, dog park, and waterfront promenade. Express bus service and the NYC Ferry are also nearby, with access to Lower Manhattan. The property address is 11 Mackay Pl, Brookyn, NY 11209.
The property is located in Bay Ridge near the Shore Road promenade, dog park, and waterfront promenade. Express bus service and the NYC Ferry are also nearby, with access to Lower Manhattan. The property address is 11 Mackay Pl, Brookyn, NY 11209.
Key Highlights
- Detached solid‑brick triplex built in 1925
- Two‑bedroom, two‑bedroom, and one‑bedroom unit layout
- Private driveway with one‑car garage
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
$106,991
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
5.36%
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%
$2,139,820
$2.1M
Cap Rate 7%
$1,528,443
$1.5M
Cap Rate 9%
$1,188,789
$1.2M
Market Conditions
NOI Build-Up for 3,055 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
$155.8K $51.00/SF
− Vacancy
−$3.0K −$0.97/SF
EGI
$152.8K $50.03/SF
− OpEx
−$45.9K −$15.01/SF
NOI
$107.0K $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%
$2,139,820
Cap Rate 7%
$1,528,443
Cap Rate 9%
$1,188,789
Alternative Uses
Best Use
Multifamily LT 5
$1.53M
$1.34M – $1.78M
NOI $106,991 @ 7.0% cap · market cap 5.36%
Second Best
Apartment 5plus
$1.33M
$1.17M – $1.55M
NOI $93,266 @ 7.0% cap · market cap 4.67%
Theoretical Best
Specialty Retail
$2.53M
$2.21M – $2.95M
NOI $177,068 @ 7.0% cap · market cap 8.88%
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
1,760
Businesses Nearby
Explore this area
Business Placement
Demographics for 11209, NY
73,239
Population
33,286
Households
2.2
Avg Household Size
40
Median Age
53%
College-Educated
90%
High-School Grad
2.1 sq mi
ZIP Area
34,876
Density / Sq Mi
$92,656
Median Household Income
$62,455
Median Earnings
$1,857
Median Rent
$905,700
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-family residence with a private driveway, backyard, and access to waterfront recreation and regional transit.
Where is this triplex located?
The property is located at 11 Mackay Pl Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: Detached solid‑brick triplex built in 1925; Two‑bedroom, two‑bedroom, and one‑bedroom unit layout; Private driveway with one‑car garage
