Renovated Three-Unit
For Sale
$2,488,000
155 W 9th Street, Brooklyn, NY 11231
Vacant Brooklyn townhouse with updated residences, private outdoor space, and potential for single-family conversion.
Property Size2,000 SF
Price / SF$1,244
Days on Market28
Property Features for 155 W 9th Street
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Multi Family
Units
Unit Mix
3 x 2BR
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$6,029
Amenities
in-unit washer and dryer
private backyard
Building Details
Building Size
2,000 SF
Year Built
1920
Buildings
1
Listing Agency:
Century 21 Awaye Realty
(718) 488-0800
Listed By:
Arlene T Waye · License #10491211892
(718) 488-0800
Source:
Miradorrealestate
Added: Aug 4
Changed: Aug 30
Last Checked: Aug 14 at 8:07AM
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 Century 21 Awaye Realty
Investment Insights
Based on property information with market context.
Built in 1920, this 2,000-square-foot townhouse is configured as a triplex with three renovated two-bedroom residences. Each apartment includes a modern kitchen, updated full bathroom, hardwood floors, exposed brick details, and living and dining areas. The garden duplex adds an in-unit washer and dryer plus private backyard access. Separate boilers and hot water heaters serve each apartment, and the property will be delivered vacant.
The property is located near Court Street and Smith Street, with restaurants, cafes, boutiques, specialty shops, parks, schools, and the F and G subway lines nearby. Subject to applicable approvals, the building includes buildable air rights and may be converted to a single-family townhouse.
The property is located near Court Street and Smith Street, with restaurants, cafes, boutiques, specialty shops, parks, schools, and the F and G subway lines nearby. Subject to applicable approvals, the building includes buildable air rights and may be converted to a single-family townhouse.
Key Highlights
- Three renovated two‑bedroom residences in a triplex configuration
- 2,000 square feet on a 1920‑built townhouse property
- Garden duplex includes an in‑unit washer and dryer and private backyard access
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
$70,043
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
2.82%
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%
$1,400,860
$1.4M
Cap Rate 7%
$1,000,614
$1.0M
Cap Rate 9%
$778,256
$778.3K
Market Conditions
NOI Build-Up for 2,000 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
$102.0K $51.00/SF
− Vacancy
−$1.9K −$0.97/SF
EGI
$100.1K $50.03/SF
− OpEx
−$30.0K −$15.01/SF
NOI
$70.0K $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%
$1,400,860
Cap Rate 7%
$1,000,614
Cap Rate 9%
$778,256
Alternative Uses
Best Use
Multifamily LT 5
$1.00M
$875.5K – $1.17M
NOI $70,043 @ 7.0% cap · market cap 2.82%
Second Best
Apartment 5plus
$872.3K
$763.2K – $1.02M
NOI $61,058 @ 7.0% cap · market cap 2.45%
Theoretical Best
Specialty Retail
$1.66M
$1.45M – $1.93M
NOI $115,920 @ 7.0% cap · market cap 4.66%
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
6,053
Businesses Nearby
Explore this area
Business Placement
Demographics for 11231, NY
37,240
Population
18,265
Households
2
Avg Household Size
37
Median Age
69%
College-Educated
90%
High-School Grad
1.4 sq mi
ZIP Area
26,600
Density / Sq Mi
$138,485
Median Household Income
$85,791
Median Earnings
$2,474
Median Rent
$1,678,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Vacant Brooklyn townhouse with updated residences, private outdoor space, and potential for single-family conversion.
Where is this triplex located?
The property is located at 155 W 9th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,488,000.
What are key features of this property?
This property features: Three renovated two‑bedroom residences in a triplex configuration; 2,000 square feet on a 1920‑built townhouse property; Garden duplex includes an in‑unit washer and dryer and private backyard access
