Three-Family Brick
For Sale
$1,350,000
1397 Sutter Ave, Brooklyn, NY 11208
Residential Income, Brooklyn, NY
Property Size3,822 SF
Lot Size0.04 Acres
Price / SF$353.22
Days on Market53
Property Features for 1397 Sutter Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
9
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bedroom 2, Bedroom 8, Bedroom 9, Bathroom 2, Bathroom 3, Bedroom 3, Bedroom 7, Bedroom 6, Bedroom 1, Bathroom 4, Bedroom 5, Bathroom 1
Interior features
Walk-In Closet(s), Entrance Foyer
Subdivision
East New York
High school district
19
Standard status
Active
Size
3,822 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
7695
Amenities
stainless appliances
in-unit washer/dryer
Building Details
Year built
2006
Floors in Building
3
Flooring type
Tile, Hardwood
Building materials
Brick
Listing Agency:
5 BORO REALTY CORP
(917) 705-0005
Listed By:
Nina Sabag · License #1020364
855-305-DEAL
Added: Jul 8
Changed: Aug 26
Last Checked: Aug 29 at 3:06PM
MLS# 11874632
Copyright © 2026 My State 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.
This three-family brick residence is arranged across three stories and was constructed in 2006. The property contains approximately 3,822 square feet on a 1,720-square-foot lot, with four bathrooms and a finished walk-out basement that adds bedroom and common-area space. Hardwood and tile flooring, stainless appliances, walk-in closet space, an entrance foyer, and in-unit washer/dryer installations are included. Gas baseboard heating serves the building.
The property is currently tenant-occupied, with an option to deliver it vacant. It is located on Sutter Avenue in Brooklyn's East New York area, near schools, grocery stores, and parks, with transit access identified in the surrounding area.
The property is currently tenant-occupied, with an option to deliver it vacant. It is located on Sutter Avenue in Brooklyn's East New York area, near schools, grocery stores, and parks, with transit access identified in the surrounding area.
Key Highlights
- Three‑family, three‑story brick building constructed in 2006
- Approximately 3,822 SF on a 1,720 SF lot
- Finished walk‑out basement with additional bedroom and common space
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
$98,112
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
7.27%
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%
$1,962,240
$2.0M
Cap Rate 7%
$1,401,600
$1.4M
Cap Rate 9%
$1,090,133
$1.1M
Market Conditions
NOI Build-Up for 3,822 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
$146.8K $38.40/SF
− Vacancy
−$6.6K −$1.73/SF
EGI
$140.2K $36.67/SF
− OpEx
−$42.0K −$11.00/SF
NOI
$98.1K $25.67/SF
Area
ZIP 11208
Vacancy
4.50%
Lease Rate
$38.40 /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%
$1,962,240
Cap Rate 7%
$1,401,600
Cap Rate 9%
$1,090,133
Alternative Uses
Best Use
Multifamily LT 5
$1.40M
$1.23M – $1.64M
NOI $98,112 @ 7.0% cap · market cap 7.27%
Second Best
Apartment 5plus
$1.25M
$1.09M – $1.46M
NOI $87,360 @ 7.0% cap · market cap 6.47%
Theoretical Best
Office A
$2.34M
$2.05M – $2.73M
NOI $163,701 @ 7.0% cap · market cap 12.13%
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
2,454
Businesses Nearby
Explore this area
Business Placement
Demographics for 11208, NY
101,958
Population
37,261
Households
2.7
Avg Household Size
35
Median Age
16%
College-Educated
82%
High-School Grad
2.7 sq mi
ZIP Area
37,762
Density / Sq Mi
$59,988
Median Household Income
$40,156
Median Earnings
$1,563
Median Rent
$638,200
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 income property with a finished walk-out basement, tenant occupancy, and an option for vacant delivery.
Where is this triplex located?
The property is located at 1397 Sutter Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Three‑family, three‑story brick building constructed in 2006; Approximately 3,822 SF on a 1,720 SF lot; Finished walk‑out basement with additional bedroom and common space
