Three-Story Triplex with Ground-Floor
For Sale
$1,749,000
Pending
139 Evergreen Avenue, Brooklyn, NY 11206
Residential Income, Brooklyn, NY
Property Size2,500 SF
Days on Market209
Property Features for 139 Evergreen Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
8
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 7, Bathroom 2, Bedroom 3, Bedroom 8, Bathroom 1, Basement, Bedroom 4, Bedroom 5, Bedroom 1, Bedroom 6, Bathroom 3, Bedroom 2
Interior features
High Ceilings
Basement
Full
Special listing conditions
In Foreclosure, Real Estate Owned
Standard status
Pending
APN
03172-0002
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
2450
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Oil
Water source
Public
Building Details
Year built
1931
Number of units
3
Building materials
Frame
Listing Agency:
Keller Williams Landmark II · Keller Williams Realty
(347) 846-1200
Listed By:
Talaat A. Elkaray · License #40EL0920920
(917) 364-6295
Added: Jan 24
Changed: Aug 20
Last Checked: Aug 21 at 7:06PM
MLS# 955363
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Three-story mixed-use triplex at 139 Evergreen Avenue featuring a ground-floor commercial space and two upper residential floors. The building is delivered vacant and provides a full renovation opportunity. Interior details include high ceilings, with heating provided by oil. Construction is frame, and the property is served by public water and public sewer.
The layout includes approximately 2,500 SF of ground-floor commercial space, with two upper residential floors of approximately 1,250 SF each. The property was built in 1931.
With a commercial component on the ground level and residential units above, the configuration can support a variety of occupancy strategies. The property is also located in the Bushwick / East Williamsburg area, with access to the J / M / Z subway lines for connectivity through Brooklyn and Manhattan.
The layout includes approximately 2,500 SF of ground-floor commercial space, with two upper residential floors of approximately 1,250 SF each. The property was built in 1931.
With a commercial component on the ground level and residential units above, the configuration can support a variety of occupancy strategies. The property is also located in the Bushwick / East Williamsburg area, with access to the J / M / Z subway lines for connectivity through Brooklyn and Manhattan.
Key Highlights
- Ground‑floor commercial space totaling about 2,500 SF
- Two upper residential floors totaling about 1,250 SF each
- Delivered vacant with full renovation opportunity
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
$87,554
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
5.01%
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%
$1,751,080
$1.8M
Cap Rate 7%
$1,250,771
$1.3M
Cap Rate 9%
$972,822
$972.8K
Market Conditions
NOI Build-Up for 2,500 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
$127.5K $51.00/SF
− Vacancy
−$2.4K −$0.97/SF
EGI
$125.1K $50.03/SF
− OpEx
−$37.5K −$15.01/SF
NOI
$87.6K $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%
$1,751,080
Cap Rate 7%
$1,250,771
Cap Rate 9%
$972,822
Alternative Uses
Best Use
Multifamily LT 5
$1.25M
$1.09M – $1.46M
NOI $87,554 @ 7.0% cap · market cap 5.01%
Second Best
Apartment 5plus
$1.09M
$954.0K – $1.27M
NOI $76,322 @ 7.0% cap · market cap 4.36%
Theoretical Best
Specialty Retail
$2.07M
$1.81M – $2.42M
NOI $144,900 @ 7.0% cap · market cap 8.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,565
Businesses Nearby
Explore this area
Business Placement
Demographics for 11206, NY
91,549
Population
34,838
Households
2.6
Avg Household Size
30
Median Age
36%
College-Educated
77%
High-School Grad
1.4 sq mi
ZIP Area
65,392
Density / Sq Mi
$57,280
Median Household Income
$44,145
Median Earnings
$1,558
Median Rent
$822,100
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-story mixed-use triplex with high ceilings, oil heat, and a ground-floor commercial space, delivered vacant for renovation.
Where is this triplex located?
The property is located at 139 Evergreen Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,749,000.
What are key features of this property?
This property features: Ground‑floor commercial space totaling about 2,500 SF; Two upper residential floors totaling about 1,250 SF each; Delivered vacant with full renovation opportunity
