Six-Unit Mixed-Use Apartment
For Sale
$1,650,000
141 Tompkins Avenue, Brooklyn, NY 11206
MULTI_FAMILY - Brooklyn, NY
Property Size2,451 SF
Lot Size0.04 Acres
Price / SF$673.19
Days on Market80
Property Features for 141 Tompkins Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 2, Bedroom 4, Bathroom 4, Bathroom 1, Bedroom 5, Bedroom 1, Bedroom 3, Bathroom 3, Bathroom 5, Bathroom 6, Bedroom 6, Bathroom 2
Subdivision
Bedford-Stuyvesant
View
Park
Standard status
Active
Size
2,451 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
5406
Amenities
rear yard
Building Details
Floors in Building
3
Building materials
Brick
Listing Agency:
EVERGREEN REALTY & INVESTMENTS
(646) 838-1378
Listed By:
Emma Barattini
(646) 838-1378
Added: Jun 3
Changed: Aug 3
Last Checked: Aug 21 at 3:06PM
MLS# 11800302
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 mixed-use three-story, brick apartment building is currently configured as six residential units with front and rear apartments. The legal use consists of two residential units and one commercial space. The property is R6A, C2-4 zoned and includes a large rear yard. The building is approximately 2,451 SF on a 1,740 SF lot (about 0.0399 acres) with building dimensions of 20.42' x 40' and lot dimensions of 20.42' x 85'.
Four of the six residential units are vacant, and the remaining occupied units are described as month-to-month. Five one-bedroom apartments and one studio apartment are currently in place. The landlord pays all utilities. The property also presents potential conversion to a legal four-unit building with ground-floor retail.
There is potential redevelopment on the site, including up to nine residential units using available air rights (subject to architect review and approvals), with approximately 2,767 SF of additional buildable area described as available. Buyers should conduct their own due diligence regarding legal use, configuration, zoning, and future development potential.
Four of the six residential units are vacant, and the remaining occupied units are described as month-to-month. Five one-bedroom apartments and one studio apartment are currently in place. The landlord pays all utilities. The property also presents potential conversion to a legal four-unit building with ground-floor retail.
There is potential redevelopment on the site, including up to nine residential units using available air rights (subject to architect review and approvals), with approximately 2,767 SF of additional buildable area described as available. Buyers should conduct their own due diligence regarding legal use, configuration, zoning, and future development potential.
Key Highlights
- R6A and C2‑4 zoned three‑story brick mixed‑use building
- Currently configured as six residential units; 4 of 6 vacant and remaining units month‑to‑month
- Approximately 2,451 SF existing building on a 1,740 SF lot (0.0399 acres)
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
$74,826
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
4.53%
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%
$1,496,520
$1.5M
Cap Rate 7%
$1,068,943
$1.1M
Cap Rate 9%
$831,400
$831.4K
Market Conditions
NOI Build-Up for 2,451 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
$138.8K $56.64/SF
− Vacancy
−$2.8K −$1.13/SF
EGI
$136.0K $55.51/SF
− OpEx
−$61.2K −$24.98/SF
NOI
$74.8K $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%
$1,496,520
Cap Rate 7%
$1,068,943
Cap Rate 9%
$831,400
Alternative Uses
Best Use
Apartment 5plus
$1.07M
$935.3K – $1.25M
NOI $74,826 @ 7.0% cap · market cap 4.53%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.03M
$1.78M – $2.37M
NOI $142,060 @ 7.0% cap · market cap 8.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
5,984
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?
Apartment building - R6A, C2-4 zoned mixed-use building configured as six residential units with 4 of 6 vacant and month-to-month occupancy.
Where is this apartment building located?
The property is located at 141 Tompkins Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: R6A and C2‑4 zoned three‑story brick mixed‑use building; Currently configured as six residential units; 4 of 6 vacant and remaining units month‑to‑month; Approximately 2,451 SF existing building on a 1,740 SF lot (0.0399 acres)
