Six-Unit Apartment
New
For Sale
$1,799,000
1717 Voorhies Ave, Brooklyn, NY 11235
The building offers one- and two-bedroom apartments along with a half-finished basement and separate entrance.
Property Size4,800 SF
Lot Size0.05 Acres
Days on Market5
Property Features for 1717 Voorhies Ave
General Information
Standard status
Active
Size
4,800 SF
Lot size
0.05 Acres
Property subtype
Multi Family
Units
Unit Mix
4 x 1BR, 2 x 2BR
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$20,000
Building Details
Building Size
4,800 SF
Year Built
1922
Buildings
1
Stories
3
Listing Agency:
Womcore LLC dba Remax Edge
(718) 612-3088
Listed By:
Sumei Lan · License #SL4755
(718) 612-3088
Source:
Elliman
Added: Aug 18
Changed: Aug 21
Last Checked: Aug 21 at 11:58AM
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 Womcore LLC dba Remax Edge
Investment Insights
Based on property information with market context.
Built in 1922, this six-unit apartment building contains four one-bedroom apartments and two two-bedroom apartments. The property also includes a half-finished basement with its own entrance, adding storage or utility space. The building measures 20 feet by 90 feet and sits on a 20-foot by 100-foot lot. A roof replacement was completed four years ago.
The property is located at 1717 Voorhies Ave in Brooklyn’s Sheepshead Bay area, between Sheepshead Road and Voorhies Avenue. Nearby conveniences include local shops, financial institutions, and public transportation. Walk Score is 94, Transit Score is 78, and Bike Score is 69.
The property is located at 1717 Voorhies Ave in Brooklyn’s Sheepshead Bay area, between Sheepshead Road and Voorhies Avenue. Nearby conveniences include local shops, financial institutions, and public transportation. Walk Score is 94, Transit Score is 78, and Bike Score is 69.
Key Highlights
- Six‑unit configuration with four one‑bedroom and two two‑bedroom apartments
- 20 feet by 90 feet building on a 20‑foot by 100‑foot lot
- Half‑finished basement with separate entrance
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
$146,539
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
8.15%
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%
$2,930,780
$2.9M
Cap Rate 7%
$2,093,414
$2.1M
Cap Rate 9%
$1,628,211
$1.6M
Market Conditions
NOI Build-Up for 4,800 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
$271.9K $56.64/SF
− Vacancy
−$5.4K −$1.13/SF
EGI
$266.4K $55.51/SF
− OpEx
−$119.9K −$24.98/SF
NOI
$146.5K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /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%
$2,930,780
Cap Rate 7%
$2,093,414
Cap Rate 9%
$1,628,211
Alternative Uses
Best Use
Apartment 5plus
$2.09M
$1.83M – $2.44M
NOI $146,539 @ 7.0% cap · market cap 8.15%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.97M
$3.48M – $4.64M
NOI $278,208 @ 7.0% cap · market cap 15.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
4,886
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - The building offers one- and two-bedroom apartments along with a half-finished basement and separate entrance.
Where is this apartment building located?
The property is located at 1717 Voorhies Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,799,000.
What are key features of this property?
This property features: Six‑unit configuration with four one‑bedroom and two two‑bedroom apartments; 20 feet by 90 feet building on a 20‑foot by 100‑foot lot; Half‑finished basement with separate entrance
