Brooklyn Three-Family Brick
For Sale
$1,890,000
Pending
1409 36 St, Brooklyn, NY 11218
Legal three-family home in Kensington, Brooklyn with redevelopment potential.
Property Size2,504 SF
Lot Size0.06 Acres
Days on Market280
Property Features for 1409 36 St
General Information
Standard status
Pending
Size
2,504 SF
Lot size
0.06 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$6,735
Building Details
Building Size
2,504 SF
Year Built
1910
Units
3
Listing Agency:
O Kane Realty
Listed By:
John O Kane
(917) 859-9362
Source:
Elliman
Added: Dec 3, 2025
Changed: Sep 7
Last Checked: Sep 8 at 6:59AM
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 O Kane Realty
Investment Insights
Based on property information with market context.
This legal three-family brick colonial in the Kensington area of Brooklyn presents living, investment, or redevelopment opportunities. The building, with dimensions of 18 feet by 54 feet, offers comfortable living spaces that can maximize rental potential or contribute to owner occupancy. Features include a full basement, front porch, terrace, and rear yard. The property is located in the Kensington area of Brooklyn, with access to transportation (F&G trains), dining, and shopping. Prospect Park is located nearby. The R5 zoning has a C1-3 overlay that allows for residential and commercial uses. The adjacent property is also on the market and can be sold as a package, allowing for long-term redevelopment on the combined 40 feet by 100 feet lot.
Key Highlights
- Legal three‑family brick colonial in the desirable Kensington area of Brooklyn.
- Excellent redevelopment opportunity with R5 zoning and C1‑3 overlay, allowing for diverse residential and commercial uses.
- Potential to purchase the adjacent property for a combined 40 x 100 lot, ideal for long‑term redevelopment.
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
$87,694
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
4.64%
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%
$1,753,880
$1.8M
Cap Rate 7%
$1,252,771
$1.3M
Cap Rate 9%
$974,378
$974.4K
Market Conditions
NOI Build-Up for 2,504 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
$127.7K $51.00/SF
− Vacancy
−$2.4K −$0.97/SF
EGI
$125.3K $50.03/SF
− OpEx
−$37.6K −$15.01/SF
NOI
$87.7K $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%
$1,753,880
Cap Rate 7%
$1,252,771
Cap Rate 9%
$974,378
Alternative Uses
Best Use
Multifamily LT 5
$1.25M
$1.10M – $1.46M
NOI $87,694 @ 7.0% cap · market cap 4.64%
Second Best
Apartment 5plus
$1.09M
$955.6K – $1.27M
NOI $76,445 @ 7.0% cap · market cap 4.04%
Theoretical Best
Specialty Retail
$2.07M
$1.81M – $2.42M
NOI $145,132 @ 7.0% cap · market cap 7.68%
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
5,783
Businesses Nearby
Explore this area
Business Placement
Demographics for 11218, NY
78,642
Population
27,403
Households
2.9
Avg Household Size
35
Median Age
51%
College-Educated
86%
High-School Grad
1.4 sq mi
ZIP Area
56,173
Density / Sq Mi
$95,916
Median Household Income
$55,190
Median Earnings
$1,966
Median Rent
$914,300
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?
Triplex - Legal three-family home in Kensington, Brooklyn with redevelopment potential.
Where is this triplex located?
The property is located at 1409 36 St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,890,000.
What are key features of this property?
This property features: Legal three‑family brick colonial in the desirable Kensington area of Brooklyn.; Excellent redevelopment opportunity with R5 zoning and C1‑3 overlay, allowing for diverse residential and commercial uses.; Potential to purchase the adjacent property for a combined 40 x 100 lot, ideal for long‑term redevelopment.
