Renovated Brick
For Sale
$1,500,000
Pending
138 Bay 11th St, Brooklyn, NY 11228
Two-family residence with a one-bedroom apartment, renovated main duplex, private backyard, and two-car garage.
Property Size2,125 SF
Days on Market125
Property Features for 138 Bay 11th St
General Information
Standard status
Pending
Size
2,125 SF
Total Parking Spaces
2
Property subtype
Multi Family
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 1BR, 1 x 3BR/1.5BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,095
Amenities
heated driveway
private backyard
Building Details
Building Size
2,125 SF
Year Built
1955
Buildings
1
Stories
2
Construction
semi-detached brick
Listing Agency:
Alina Levina
Listed By:
Alina Levina
(718) 865-8505
Source:
Elliman
Added: May 9
Changed: Sep 8
Last Checked: Sep 9 at 10:07AM
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 Alina Levina
Investment Insights
Based on property information with market context.
This semi-detached brick duplex, built in 1955, contains two residential units. The first-floor apartment has one bedroom, while the primary duplex includes three bedrooms and one-and-a-half baths. The renovated upper residence features an open living arrangement connecting the kitchen and dining area, with direct access to a private backyard. A heated driveway and two-car garage provide on-site parking and storage convenience.
The property is located at 138 Bay 11th St in Brooklyn’s Bensonhurst area. Schools, supermarkets, convenience stores along 86th Street and Bath Avenue, express bus service, and B8 and B64 bus stops are within a short distance. WalkScore is 85, TransitScore is 73, and BikeScore is 59.
The property is located at 138 Bay 11th St in Brooklyn’s Bensonhurst area. Schools, supermarkets, convenience stores along 86th Street and Bath Avenue, express bus service, and B8 and B64 bus stops are within a short distance. WalkScore is 85, TransitScore is 73, and BikeScore is 59.
Key Highlights
- Semi‑detached brick two‑family property built in 1955
- First‑floor one‑bedroom apartment
- Renovated main duplex with three bedrooms and one‑and‑a‑half baths
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
$74,421
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
4.96%
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%
$1,488,420
$1.5M
Cap Rate 7%
$1,063,157
$1.1M
Cap Rate 9%
$826,900
$826.9K
Market Conditions
NOI Build-Up for 2,125 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
$108.4K $51.00/SF
− Vacancy
−$2.1K −$0.97/SF
EGI
$106.3K $50.03/SF
− OpEx
−$31.9K −$15.01/SF
NOI
$74.4K $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%
$1,488,420
Cap Rate 7%
$1,063,157
Cap Rate 9%
$826,900
Alternative Uses
Best Use
Multifamily LT 5
$1.06M
$930.3K – $1.24M
NOI $74,421 @ 7.0% cap · market cap 4.96%
Second Best
Apartment 5plus
$926.8K
$810.9K – $1.08M
NOI $64,874 @ 7.0% cap · market cap 4.32%
Theoretical Best
Specialty Retail
$1.76M
$1.54M – $2.05M
NOI $123,165 @ 7.0% cap · market cap 8.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Yes
Paved road 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-family residence with a one-bedroom apartment, renovated main duplex, private backyard, and two-car garage.
Where is this duplex located?
The property is located at 138 Bay 11th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Semi‑detached brick two‑family property built in 1955; First‑floor one‑bedroom apartment; Renovated main duplex with three bedrooms and one‑and‑a‑half baths
