Two-Story Triplex
For Sale
$1,800,000
165 17th St, Brooklyn, NY 11215
Three residential units are arranged within a two-story property built in 1905.
Property Size1,952 SF
Price / SF$922.13
Days on Market145
Property Features for 165 17th St
General Information
Standard status
Active
Size
1,952 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
3
Building Details
Year Built
1905
Stories
2
Listing Agency:
Motivated Access Realty Corp.
Listed By:
Janet Trujillo
(718) 863-0055
Source:
Searchhomesinlongisland
Added: May 10
Changed: Sep 27
Last Checked: Oct 1 at 11:39AM
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 Motivated Access Realty Corp.
Investment Insights
Based on property information with market context.
Built in 1905, this two-story triplex contains three residential units within approximately 1,952 square feet of living space. The configuration provides a multi-unit residential format in a compact building profile, suitable for ownership or occupancy arrangements involving multiple households.
The property is located at 165 17th St in Brooklyn’s Greenwood Heights neighborhood, within the South Brooklyn area. Its three-family layout and established construction date define the asset’s primary characteristics for residential income or multi-generational use.
The property is located at 165 17th St in Brooklyn’s Greenwood Heights neighborhood, within the South Brooklyn area. Its three-family layout and established construction date define the asset’s primary characteristics for residential income or multi-generational use.
Key Highlights
- Three residential units in a two‑story property
- Approximately 1,952 square feet of living space
- Built in 1905
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
$68,362
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
3.80%
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%
$1,367,240
$1.4M
Cap Rate 7%
$976,600
$976.6K
Cap Rate 9%
$759,578
$759.6K
Market Conditions
NOI Build-Up for 1,952 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
$99.6K $51.00/SF
− Vacancy
−$1.9K −$0.97/SF
EGI
$97.7K $50.03/SF
− OpEx
−$29.3K −$15.01/SF
NOI
$68.4K $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%
$1,367,240
Cap Rate 7%
$976,600
Cap Rate 9%
$759,578
Alternative Uses
Best Use
Multifamily LT 5
$976.6K
$854.5K – $1.14M
NOI $68,362 @ 7.0% cap · market cap 3.80%
Second Best
Apartment 5plus
$851.3K
$744.9K – $993.2K
NOI $59,593 @ 7.0% cap · market cap 3.31%
Theoretical Best
Specialty Retail
$1.62M
$1.41M – $1.89M
NOI $113,138 @ 7.0% cap · market cap 6.29%
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
Location Intelligence
Trade Area within ½ mile
5,737
Businesses Nearby
Explore this area
Business Placement
Demographics for 11215, NY
67,493
Population
32,197
Households
2.1
Avg Household Size
37
Median Age
80%
College-Educated
96%
High-School Grad
2.2 sq mi
ZIP Area
30,679
Density / Sq Mi
$180,773
Median Household Income
$99,151
Median Earnings
$2,803
Median Rent
$1,674,700
Median Home Value
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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 are arranged within a two-story property built in 1905.
Where is this triplex located?
The property is located at 165 17th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Three residential units in a two‑story property; Approximately 1,952 square feet of living space; Built in 1905
