Brooklyn Multifamily with Medical
For Sale
$1,649,000
2177 E 69 St, Brooklyn, NY 11234
Detached multifamily with medical office in Bergen Beach, Brooklyn.
Property Size5,000 SF
Lot Size0.09 Acres
Price / SF$329.80
Days on Market94
Property Features for 2177 E 69 St
General Information
Standard status
Active
Size
5,000 SF
Lot size
0.09 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$4,980
Building Details
Building Size
5,000 SF
Year Built
1975
Units
3
Listing Agency:
(917) 440-9356
Listed By:
Jason P. Sciulara
(917) 440-9356
Source:
Elliman
Added: May 18
Changed: Aug 8
Last Checked: Aug 19 at 10:01AM
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 Jason P. Sciulara
Investment Insights
Based on property information with market context.
This detached multifamily property is a two-family home with a medical office on the first floor. The brick building offers over 5,000 square feet of space, including the basement, and is situated on a 4,000 square foot corner lot in Bergen Beach, Brooklyn. The top floor apartment features six rooms, three bedrooms, and 1.75 bathrooms, along with a covered front terrace. The landlord's apartment also includes six rooms, three bedrooms, and 1.75 bathrooms, with a front terrace and a rear porch above the two-car garage. The first floor, currently configured as a medical office, has six rooms and 1.75 bathrooms, with access to a large unfinished basement. All units are equipped with central air and heat. The location has a walk score of 84, indicating it is very walkable, a transit score of 80, indicating excellent transit options, and a bike score of 66, indicating it is bikeable. This property is suitable for both business and residential use.
Key Highlights
- Detached multi‑family property, ideal for business and residential use
- First floor is configured for medical office use
- Over 5,000 sq ft of space (including basement) on a 4,000 sq ft corner lot
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
$124,740
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
7.56%
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%
$2,494,800
$2.5M
Cap Rate 7%
$1,782,000
$1.8M
Cap Rate 9%
$1,386,000
$1.4M
Market Conditions
NOI Build-Up for 5,000 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
$216.0K $43.20/SF
− Vacancy
−$49.7K −$9.94/SF
EGI
$166.3K $33.26/SF
− OpEx
−$41.6K −$8.32/SF
NOI
$124.7K $24.95/SF
Area
Brooklyn, NY
Vacancy
23.00%
Lease Rate
$43.20 /SF/Yr
Expense Ratio
25.00%
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%
$2,494,800
Cap Rate 7%
$1,782,000
Cap Rate 9%
$1,386,000
Alternative Uses
Best Use
Mixed Use
$2.59M
$2.27M – $3.03M
NOI $181,500 @ 7.0% cap · market cap 11.01%
Second Best
Multifamily LT 5
$2.50M
$2.19M – $2.92M
NOI $175,109 @ 7.0% cap · market cap 10.62%
Theoretical Best
Specialty Retail
$4.14M
$3.62M – $4.83M
NOI $289,800 @ 7.0% cap · market cap 17.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,202
Businesses Nearby
Explore this area
Business Placement
Demographics for 11234, NY
92,133
Population
35,167
Households
2.6
Avg Household Size
41
Median Age
39%
College-Educated
89%
High-School Grad
7.4 sq mi
ZIP Area
12,450
Density / Sq Mi
$94,434
Median Household Income
$55,206
Median Earnings
$1,771
Median Rent
$746,800
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Detached multifamily with medical office in Bergen Beach, Brooklyn.
Where is this mixed-use property located?
The property is located at 2177 E 69 St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,649,000.
What are key features of this property?
This property features: Detached multi‑family property, ideal for business and residential use; First floor is configured for medical office use; Over 5,000 sq ft of space (including basement) on a 4,000 sq ft corner lot
