Updated 3-Unit
For Sale
$1,658,000
145 Bay 11th Street, Brooklyn, NY 11228
Residential, Brooklyn, NY
Property Size2,369 SF
Lot Size0.07 Acres
Price / SF$699.87
Days on Market51
Property Features for 145 Bay 11th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Bedroom 3, Bedroom 1, Bathroom 2, Bedroom 7, Bedroom 2, Bedroom 6, Bedroom 4, Bathroom 4, Bedroom 5, Bedroom 8, Bathroom 1
Interior features
A/C Unit, Stove
Basement
Finished, Full
Subdivision
Dyker Heights
Standard status
Active
Size
2,369 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
1022
Building Details
Year built
1905
Floors in Building
3
Number of units
3
Flooring type
Hardwood
Building materials
Wood Frame
Roof type
Shingle
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Rong Feng Li · License #RFL8266
(917) 622-0960
Added: Aug 12
Changed: Sep 16
Last Checked: Oct 1 at 4:06PM
MLS# 503699
Copyright © 2026 Brooklyn New York Multiple Listing Service. 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 2,369-square-foot wood-frame triplex, built in 1905, contains three residential units. The first two floors each have three bedrooms, a living room, and a full bathroom, while the upper floor provides two bedrooms, a living room, and a full bathroom. A high-ceiling finished basement with its own side entry adds usable space and another full bathroom. Recent property improvements include renovated kitchens, updated flooring, three separate boilers and furnaces, air-conditioning units, and a shingle roof.
The property is located in Brooklyn’s Dyker Park area, near the D train and the 86th Street commercial district. Access to the Belt Parkway and I-278 supports connectivity throughout Brooklyn and the surrounding region. The lot measures 0.0666 acres, and the residence includes hardwood flooring and a stove.
The property is located in Brooklyn’s Dyker Park area, near the D train and the 86th Street commercial district. Access to the Belt Parkway and I-278 supports connectivity throughout Brooklyn and the surrounding region. The lot measures 0.0666 acres, and the residence includes hardwood flooring and a stove.
Key Highlights
- Three residential units totaling 2,369 square feet
- Unit layout includes eight bedrooms and four full bathrooms
- Finished high‑ceiling basement with separate side entrance
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
$82,966
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
5.00%
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%
$1,659,320
$1.7M
Cap Rate 7%
$1,185,229
$1.2M
Cap Rate 9%
$921,844
$921.8K
Market Conditions
NOI Build-Up for 2,369 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
$120.8K $51.00/SF
− Vacancy
−$2.3K −$0.97/SF
EGI
$118.5K $50.03/SF
− OpEx
−$35.6K −$15.01/SF
NOI
$83.0K $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%
$1,659,320
Cap Rate 7%
$1,185,229
Cap Rate 9%
$921,844
Alternative Uses
Best Use
Multifamily LT 5
$1.19M
$1.04M – $1.38M
NOI $82,966 @ 7.0% cap · market cap 5.00%
Second Best
Apartment 5plus
$1.03M
$904.0K – $1.21M
NOI $72,323 @ 7.0% cap · market cap 4.36%
Theoretical Best
Specialty Retail
$1.96M
$1.72M – $2.29M
NOI $137,307 @ 7.0% cap · market cap 8.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,948
Businesses Nearby
Explore this area
Business Placement
Demographics for 11228, NY
45,906
Population
16,336
Households
2.8
Avg Household Size
41
Median Age
37%
College-Educated
80%
High-School Grad
1.5 sq mi
ZIP Area
30,604
Density / Sq Mi
$80,737
Median Household Income
$47,062
Median Earnings
$1,828
Median Rent
$1,131,700
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 - Three residential units feature renovated kitchens, hardwood flooring, and a finished basement with separate side entrance.
Where is this triplex located?
The property is located at 145 Bay 11th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,658,000.
What are key features of this property?
This property features: Three residential units totaling 2,369 square feet; Unit layout includes eight bedrooms and four full bathrooms; Finished high‑ceiling basement with separate side entrance
