Brick Multifamily
New
For Sale
$1,299,000
1202 Bergen Ave, Brooklyn, NY 11234
Three above-ground floors and a basement provide residential space in a Brooklyn corner property.
Property Size3,496 SF
Lot Size0.07 Acres
Price / SF$371.57
Days on Market2
Property Features for 1202 Bergen Ave
General Information
Standard status
Active
Size
3,496 SF
Lot size
0.07 Acres
Property subtype
Multi Family
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$11,703
Amenities
fenced backyard
Building Details
Building Size
3,496 SF
Year Built
1970
Stories
3
Construction
brick
Listing Agency:
Real Broker NY LLC
Listed By:
Eddie Anwar Arib
(718) 256-4000
Source:
Elliman
Added: Sep 30
Last Checked: Oct 1 at 12:52PM
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 Real Broker NY LLC
Investment Insights
Based on property information with market context.
This brick multifamily property in Brooklyn contains 3,496 SF of living area across three above-ground floors, plus a basement. The building measures 23 x 56, on a 32 x 100 parcel, and dates to 1970. A fenced backyard is part of the property, and the current tenants do not have leases.
Parks, the beach, schools, shops, restaurants, and major roadways are listed among the nearby amenities. The property has a walkScore of 93, a transitScore of 79, and a bikeScore of 58.
Parks, the beach, schools, shops, restaurants, and major roadways are listed among the nearby amenities. The property has a walkScore of 93, a transitScore of 79, and a bikeScore of 58.
Key Highlights
- 3,496 SF of living space across three above‑ground floors and a basement
- Brick multifamily property on a 32 x 100 parcel; building measures 23 x 56
- Built in 1970
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
$106,729
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
8.22%
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%
$2,134,580
$2.1M
Cap Rate 7%
$1,524,700
$1.5M
Cap Rate 9%
$1,185,878
$1.2M
Market Conditions
NOI Build-Up for 3,496 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
$198.0K $56.64/SF
− Vacancy
−$4.0K −$1.13/SF
EGI
$194.1K $55.51/SF
− OpEx
−$87.3K −$24.98/SF
NOI
$106.7K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /SF/Yr
Expense Ratio
45.00%
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%
$2,134,580
Cap Rate 7%
$1,524,700
Cap Rate 9%
$1,185,878
Alternative Uses
Best Use
Apartment 5plus
$1.52M
$1.33M – $1.78M
NOI $106,729 @ 7.0% cap · market cap 8.22%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.89M
$2.53M – $3.38M
NOI $202,628 @ 7.0% cap · market cap 15.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,446
Businesses Nearby
Explore this area
Business Placement
Demographics for 11234, NY
92,133
Population
35,167
Households
2.6
Avg Household Size
41
Median Age
39%
College-Educated
89%
High-School Grad
7.4 sq mi
ZIP Area
12,450
Density / Sq Mi
$94,434
Median Household Income
$55,206
Median Earnings
$1,771
Median Rent
$746,800
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?
Multifamily property - Three above-ground floors and a basement provide residential space in a Brooklyn corner property.
Where is this multifamily property located?
The property is located at 1202 Bergen Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: 3,496 SF of living space across three above‑ground floors and a basement; Brick multifamily property on a 32 x 100 parcel; building measures 23 x 56; Built in 1970
