Detached Three-Family
For Sale
$3,499,000
171 Girard Street, Brooklyn, NY 11235
MULTI_FAMILY - Brooklyn, NY
Property Size4,112 SF
Lot Size0.18 Acres
Price / SF$850.92
Days on Market19
Property Features for 171 Girard Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
R3-1
Bedrooms
7
Bathrooms
5
Full bathrooms
4
Rooms
Bedroom 2, Bedroom 4, Bathroom 4, Bathroom 1, Bedroom 5, Bedroom 1, Bedroom 3, Bathroom 3, Bathroom 5, Bedroom 7, Bedroom 6, Bathroom 2
Parking features
Garage - Detached
Patio and Porch features
Deck, Porch
Interior features
A/C Unit - Wall, Deck, Dishwasher, Dryer, Fireplace, Laundry Area, Microwave, Pool, Porch, Refrigerator, Stove, Washer
Fireplace
1
Basement
Full, Finished
Subdivision
Manhattan Beach
Standard status
Active
Size
4,112 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Annual Amount
24118
Amenities
hardwood floors
eat-in kitchens
outdoor terraces
finished basement
wood-burning fireplaces
Building Details
Year built
1920
Floors in Building
3
Number of units
3
Flooring type
Hardwood
Building materials
Wood Frame
Roof type
Shingle
Architectural style
Other
Listing Agency:
Bright Horizons Realty
(718) 615-1441
Listed By:
Katherine A. Pontone
(718) 615-1441
Added: Jul 23
Changed: Aug 3
Last Checked: Aug 10 at 11:06AM
MLS# 503158
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Detached three-family triplex located at 171 Girard Street in Brooklyn, NY 11235. The property sits on an oversized 0.1837-acre lot and provides approximately 4,112 square feet of living space. Built in 1920, the wood-frame residence includes 7 bedrooms, 4 full bathrooms, and one three-quarter bath, with hardwood flooring throughout. Interior amenities include a finished basement, eat-in kitchens, laundry area, and wood-burning fireplaces, along with gas heat.
Outdoor space features multiple options for entertaining and downtime, including porch, deck, and outdoor terraces. The home also has an updated 220-amp electrical service and wall A/C units. Parking is provided via a detached garage with a large private driveway.
Zoned R3-1, this legal three-family residence offers an established multi-unit configuration with multiple indoor and outdoor living areas.
Outdoor space features multiple options for entertaining and downtime, including porch, deck, and outdoor terraces. The home also has an updated 220-amp electrical service and wall A/C units. Parking is provided via a detached garage with a large private driveway.
Zoned R3-1, this legal three-family residence offers an established multi-unit configuration with multiple indoor and outdoor living areas.
Key Highlights
- 0.1837‑acre lot with approximately 4,112 SF of living space
- Legal detached three‑family with 7 bedrooms, 4 full baths, and 1 three‑quarter bath
- Built in 1920 with wood‑frame construction and hardwood floors
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
Multi-tenant
Tenancy
Yes
Utilities to site
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 - R3-1 zoned detached three-family triplex with hardwood floors, fireplaces, and a detached garage with private driveway.
Where is this triplex located?
The property is located at 171 Girard Street 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: 0.1837‑acre lot with approximately 4,112 SF of living space; Legal detached three‑family with 7 bedrooms, 4 full baths, and 1 three‑quarter bath; Built in 1920 with wood‑frame construction and hardwood floors
