Three-Unit Building with Spacious
For Sale
Contact for pricing
166 Atkins Ave, Brooklyn, NY 11208
Three-story building featuring well-kept apartments with great sunlight.
Property Size2,760 SF
Price / SF$452.90
Days on Market872
Property Features for 166 Atkins Ave
General Information
Standard status
Active
Size
2,760 SF
Class
B
Property subtype
Multifamily
Zoning
R5B (1.35) Height Limit 33’
Occupancy
100%
Investment Type
Value Add
Net Operating Income
$94,540
Building Details
Year Built
1910
Year Renovated
2020
Buildings
1
Stories
3
Units
3
Listing Agency:
Brown Harris Stevens
Listed By:
Kervin Vales · License #109918089
(212) 396-8244
Source:
Crexi
Added: Apr 24, 2024
Changed: Sep 6
Last Checked: Sep 12 at 4:20AM
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 Brown Harris Stevens
Investment Insights
Based on property information with market context.
This is a 20-foot wide, three-story building containing three units. The ground floor apartment is a two-bedroom floor-through with a large front room, a central full kitchen and living/dining area, and a rear bedroom. A full bathroom is located to the side. This unit provides access to the backyard and houses the gas boiler and water heater room. The three gas meters and two electric meters are located on this floor. The unit features 9-foot ceilings and receives ample sunlight. The second floor apartment includes three bedrooms, with one at the front and two at the back. The full kitchen and living/dining area are centrally located, and the full bathroom is to the side. This apartment has backyard access via the back staircase, 12-foot ceilings, and is in good condition with great sunlight. The third-floor apartment has four bedrooms, two at the front and two at the back. The full kitchen and living/dining area are in the middle, with the full bathroom to the side. This unit also features 12-foot ceilings, good sunlight, and is in good condition. The living/dining area includes two large skylights. The apartments are in good condition with nice wood floors. The bedrooms are large and spacious, accommodating a queen-size bed. The common areas are well-kept, featuring a beautiful staircase and a great layout. The property size is 2760 square feet.
Key Highlights
- Three‑unit building: Ideal for investors or owner‑occupiers seeking rental income.
- Spacious apartments: All units feature large bedrooms capable of accommodating queen‑size beds.
- High ceilings: Second and third‑floor units boast impressive 12' ceilings, while the ground floor has 9' ceilings.
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
$63,086
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
5.05%
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%
$1,261,720
$1.3M
Cap Rate 7%
$901,229
$901.2K
Cap Rate 9%
$700,956
$701.0K
Market Conditions
NOI Build-Up for 2,760 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
$119.2K $43.20/SF
− Vacancy
−$4.5K −$1.64/SF
EGI
$114.7K $41.56/SF
− OpEx
−$51.6K −$18.70/SF
NOI
$63.1K $22.86/SF
Area
ZIP 11208
Vacancy
3.80%
Lease Rate
$43.20 /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%
$1,261,720
Cap Rate 7%
$901,229
Cap Rate 9%
$700,956
Alternative Uses
Best Use
Apartment 5plus
$901.2K
$788.6K – $1.05M
NOI $63,086 @ 7.0% cap · market cap 5.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.69M
$1.48M – $1.97M
NOI $118,215 @ 7.0% cap · market cap 9.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
3,028
Businesses Nearby
Explore this area
Business Placement
Demographics for 11208, NY
101,958
Population
37,261
Households
2.7
Avg Household Size
35
Median Age
16%
College-Educated
82%
High-School Grad
2.7 sq mi
ZIP Area
37,762
Density / Sq Mi
$59,988
Median Household Income
$40,156
Median Earnings
$1,563
Median Rent
$638,200
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Three-story building featuring well-kept apartments with great sunlight.
Where is this apartment building located?
The property is located at 166 Atkins Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Three‑unit building: Ideal for investors or owner‑occupiers seeking rental income.; Spacious apartments: All units feature large bedrooms capable of accommodating queen‑size beds.; High ceilings: Second and third‑floor units boast impressive 12' ceilings, while the ground floor has 9' ceilings.
