Renovated 4-Unit
New
For Sale
$3,000,000
Pending
364 MACON St, Brooklyn, NY 11233
The legal four-family property includes central air, hardwood floors, and laundry within each residence.
Property Size4,082 SF
Days on Market4
Property Features for 364 MACON St
General Information
Standard status
Pending
Size
4,082 SF
Property subtype
Multi Family
Additional Details
Asking Price
$3,000,000
Public Transit
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$8,604
Amenities
Central air
hardwood floors
in-unit washer/dryers
Massive Private Backyard
Building Details
Building Size
4,082 SF
Year Built
1899
Buildings
1
Units
4
Listed By:
Joseph Covington · License #10401272618 (NY)
(917) 293-8531
Source:
Elliman
Added: Sep 24
Changed: Sep 26
Last Checked: Sep 26 at 11:59AM
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 Joseph Covington
Investment Insights
Based on property information with market context.
This 4,082-square-foot Brooklyn quadplex is configured as a legal four-family property and was built in 1899. Renovations extend throughout the building, which has central air, hardwood flooring, and in-unit washer/dryers. The basement has 7.6-foot ceilings, and approved plans cover a duplex configuration connecting the lower unit with the basement. A private backyard adds outdoor space to the property.
The building is located in the Bedford-Stuyvesant / Expanded Stuyvesant Heights Historic District. A/C subway service and neighborhood amenities are accessible from the property.
The building is located in the Bedford-Stuyvesant / Expanded Stuyvesant Heights Historic District. A/C subway service and neighborhood amenities are accessible from the property.
Key Highlights
- Legal four‑family property with 4,082 SF
- Renovations throughout; built in 1899
- Approved duplex plans for the lower unit and basement
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
$142,959
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
4.77%
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%
$2,859,180
$2.9M
Cap Rate 7%
$2,042,271
$2.0M
Cap Rate 9%
$1,588,433
$1.6M
Market Conditions
NOI Build-Up for 4,082 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
$208.2K $51.00/SF
− Vacancy
−$4.0K −$0.97/SF
EGI
$204.2K $50.03/SF
− OpEx
−$61.3K −$15.01/SF
NOI
$143.0K $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%
$2,859,180
Cap Rate 7%
$2,042,271
Cap Rate 9%
$1,588,433
Alternative Uses
Best Use
Multifamily LT 5
$2.04M
$1.79M – $2.38M
NOI $142,959 @ 7.0% cap · market cap 4.77%
Second Best
Apartment 5plus
$1.78M
$1.56M – $2.08M
NOI $124,619 @ 7.0% cap · market cap 4.15%
Theoretical Best
Specialty Retail
$3.38M
$2.96M – $3.94M
NOI $236,593 @ 7.0% cap · market cap 7.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
4,369
Businesses Nearby
Explore this area
Business Placement
Demographics for 11233, NY
75,399
Population
34,412
Households
2.2
Avg Household Size
35
Median Age
33%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
57,999
Density / Sq Mi
$62,034
Median Household Income
$47,149
Median Earnings
$1,613
Median Rent
$1,013,000
Median Home Value
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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?
Quadplex - The legal four-family property includes central air, hardwood floors, and laundry within each residence.
Where is this quadplex located?
The property is located at 364 MACON St Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Legal four‑family property with 4,082 SF; Renovations throughout; built in 1899; Approved duplex plans for the lower unit and basement
