Detached Three-Family
For Sale
$3,499,000
171 Girard St, Brooklyn, NY 11235
Detached legal three-family home on an oversized lot with hardwood floors, eat-in kitchens, terraces, and a detached garage.
Property Size4,112 SF
Lot Size0.18 Acres
Price / SF$850.92
Days on Market21
Property Features for 171 Girard St
General Information
Standard status
Active
Size
4,112 SF
Lot size
0.18 Acres
Property subtype
Multi Family
Additional Details
Multifamily Units
3
Amenities
hardwood floors
eat-in kitchens
outdoor terraces
finished basement
wood-burning fireplaces
gas heat
updated 220-amp electrical service
detached garage
private driveway
Building Details
Building Size
4,112 SF
Year Built
1920
Listing Agency:
Bright Horizons Realty
(718) 615-1441
Listed By:
Katherine A. Pontone
(718) 615-1441
Source:
Elliman
Added: Jul 24
Changed: Jul 26
Last Checked: Aug 12 at 8:06AM
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 Bright Horizons Realty
Investment Insights
Based on property information with market context.
Detached legal three-family residence on an oversized 80' × 100' lot. The home is offered as a standalone three-unit property and includes approximately 4,112 square feet of living space with 7 bedrooms and 4 full bathrooms plus one three-quarter bath. Interior features include hardwood floors, eat-in kitchens, a finished basement, and wood-burning fireplaces, along with gas heat and updated 220-amp electrical service. Outdoor amenities include outdoor terraces, and there is a detached garage with a large private driveway.
The property is located in Manhattan Beach, a short distance from the beach, in a waterfront neighborhood. Walk score is listed as 87 (Very Walkable) and transit score as 72 (Excellent Transit), with bike score noted as 61 (Bikeable).
The detached configuration, finished basement, and outdoor terrace areas support a range of residential use outcomes while maintaining the legal three-family framework.
The property is located in Manhattan Beach, a short distance from the beach, in a waterfront neighborhood. Walk score is listed as 87 (Very Walkable) and transit score as 72 (Excellent Transit), with bike score noted as 61 (Bikeable).
The detached configuration, finished basement, and outdoor terrace areas support a range of residential use outcomes while maintaining the legal three-family framework.
Key Highlights
- Detached legal three‑family home on an 80' × 100' oversized lot
- Approx. 4,112 SF with 7 bedrooms, 4 full baths, and 1 three‑quarter bath
- Features hardwood floors, eat‑in kitchens, wood‑burning fireplaces, and gas heat
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
$144,009
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
4.12%
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%
$2,880,180
$2.9M
Cap Rate 7%
$2,057,271
$2.1M
Cap Rate 9%
$1,600,100
$1.6M
Market Conditions
NOI Build-Up for 4,112 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
$209.7K $51.00/SF
− Vacancy
−$4.0K −$0.97/SF
EGI
$205.7K $50.03/SF
− OpEx
−$61.7K −$15.01/SF
NOI
$144.0K $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%
$2,880,180
Cap Rate 7%
$2,057,271
Cap Rate 9%
$1,600,100
Alternative Uses
Best Use
Multifamily LT 5
$2.06M
$1.80M – $2.40M
NOI $144,009 @ 7.0% cap · market cap 4.12%
Second Best
Apartment 5plus
$1.79M
$1.57M – $2.09M
NOI $125,535 @ 7.0% cap · market cap 3.59%
Theoretical Best
Specialty Retail
$3.40M
$2.98M – $3.97M
NOI $238,332 @ 7.0% cap · market cap 6.81%
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
2,476
Businesses Nearby
Explore this area
Business Placement
Demographics for 11235, NY
88,482
Population
37,188
Households
2.4
Avg Household Size
44
Median Age
50%
College-Educated
90%
High-School Grad
2.5 sq mi
ZIP Area
35,393
Density / Sq Mi
$61,689
Median Household Income
$48,898
Median Earnings
$1,649
Median Rent
$723,900
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?
Triplex - Detached legal three-family home on an oversized lot with hardwood floors, eat-in kitchens, terraces, and a detached garage.
Where is this triplex located?
The property is located at 171 Girard St Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,499,000.
What are key features of this property?
This property features: Detached legal three‑family home on an 80' × 100' oversized lot; Approx. 4,112 SF with 7 bedrooms, 4 full baths, and 1 three‑quarter bath; Features hardwood floors, eat‑in kitchens, wood‑burning fireplaces, and gas heat
