Well-Maintained 8-Family
For Sale
$2,900,000
148 N 9th St, Brooklyn, NY 11249
A well-kept eight-unit building with spacious two-bedroom apartments featuring hardwood floors and abundant natural light.
Property Size5,500 SF
Days on Market57
Property Features for 148 N 9th St
General Information
Standard status
Active
Size
5,500 SF
Property subtype
Commercial
Additional Details
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$13,671
Building Details
Building Size
5,500 SF
Year Built
1900
Units
8
Tenancy
Multi
Listing Agency:
Trademarko Realty Inc.
(718) 710-8170
Listed By:
Marek Sobolewski · License #10311207231
(718) 710-8170
Source:
Elliman
Added: Jun 18
Changed: Aug 8
Last Checked: Aug 12 at 6:47AM
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 Trademarko Realty Inc.
Investment Insights
Based on property information with market context.
This well-maintained eight-family residential building offers spacious two-bedroom units as its primary configuration. Apartments feature hardwood floors throughout, generous layouts, and abundant natural light. The property is positioned to support both owner-occupants and investors, with several units expected to be delivered vacant for flexibility around immediate occupancy or leasing.
Located at 148 North 9th Street between Bedford Avenue and Berry Street in Brooklyn, the building places residents in the center of Williamsburg. The immediate area offers access to dining, shopping, nightlife, parks, and convenient transportation, supporting a wide range of tenant lifestyles. The surrounding location is described as exceptionally walkable and transit-accessible.
For tenants, the combination of two-bedroom layouts, hardwood flooring, and bright interiors can support comfortable day-to-day living. For buyers, the multi-unit structure provides an opportunity to manage an eight-family portfolio while also planning around the anticipated availability of multiple vacant units. This makes the building a practical fit for those seeking a straightforward residential income property with near-term flexibility.
Located at 148 North 9th Street between Bedford Avenue and Berry Street in Brooklyn, the building places residents in the center of Williamsburg. The immediate area offers access to dining, shopping, nightlife, parks, and convenient transportation, supporting a wide range of tenant lifestyles. The surrounding location is described as exceptionally walkable and transit-accessible.
For tenants, the combination of two-bedroom layouts, hardwood flooring, and bright interiors can support comfortable day-to-day living. For buyers, the multi-unit structure provides an opportunity to manage an eight-family portfolio while also planning around the anticipated availability of multiple vacant units. This makes the building a practical fit for those seeking a straightforward residential income property with near-term flexibility.
Key Highlights
- 8‑family building built in 1900
- Primarily spacious 2‑bedroom apartments
- Hardwood floors throughout the apartments
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
$167,909
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
5.79%
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%
$3,358,180
$3.4M
Cap Rate 7%
$2,398,700
$2.4M
Cap Rate 9%
$1,865,656
$1.9M
Market Conditions
NOI Build-Up for 5,500 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
$311.5K $56.64/SF
− Vacancy
−$6.2K −$1.13/SF
EGI
$305.3K $55.51/SF
− OpEx
−$137.4K −$24.98/SF
NOI
$167.9K $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%
$3,358,180
Cap Rate 7%
$2,398,700
Cap Rate 9%
$1,865,656
Alternative Uses
Best Use
Apartment 5plus
$2.40M
$2.10M – $2.80M
NOI $167,909 @ 7.0% cap · market cap 5.79%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.55M
$3.98M – $5.31M
NOI $318,780 @ 7.0% cap · market cap 10.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
8,023
Businesses Nearby
Explore this area
Business Placement
Demographics for 11249, NY
42,024
Population
18,958
Households
2.2
Avg Household Size
31
Median Age
59%
College-Educated
89%
High-School Grad
0.7 sq mi
ZIP Area
60,034
Density / Sq Mi
$121,400
Median Household Income
$81,638
Median Earnings
$2,982
Median Rent
$1,326,700
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 - A well-kept eight-unit building with spacious two-bedroom apartments featuring hardwood floors and abundant natural light.
Where is this apartment building located?
The property is located at 148 N 9th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: 8‑family building built in 1900; Primarily spacious 2‑bedroom apartments; Hardwood floors throughout the apartments
