Brick Multifamily Property with Office
For Sale
$1,649,000
2177 E 69th Street, Brooklyn, NY 11234
Residential, Brooklyn, NY
Property Size5,000 SF
Lot Size0.09 Acres
Price / SF$329.80
Days on Market124
Property Features for 2177 E 69th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bedrooms
9
Bathrooms
6
Full bathrooms
3
Rooms
Bedroom 7, Bedroom 1, Bathroom 2, Bedroom 9, Bathroom 1, Bathroom 3, Bedroom 3, Bathroom 4, Bathroom 5, Bedroom 6, Bedroom 4, Bathroom 6, Bedroom 8, Bedroom 2, Bedroom 5
Parking features
Garage - Attached
Interior features
Central Air, Dishwasher, Laundry Area, Microwave, Refrigerator, Stove, Terrace
Basement
Unfinished
Subdivision
Bergen Beach
Standard status
Active
Size
5,000 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Annual Amount
4980
Amenities
covered front terrace
rear porch
central air and heat
Building Details
Year built
1975
Floors in Building
3
Number of units
3
Flooring type
Tile, Hardwood
Building materials
Brick
Listing Agency:
Bergen Basin Realty LLC
(718) 763-4110
Listed By:
Jason Sciulara
(718) 763-4110
Added: Apr 23
Changed: Aug 23
Last Checked: Aug 24 at 9:06PM
MLS# 500752
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.
This detached brick multifamily building contains approximately 5,000 square feet, including the basement, on a 4,000-square-foot corner lot. The property includes two residential apartments, each with six rooms, three bedrooms, and 1.75 baths. The first floor is configured for medical office use and includes six rooms, 1.75 baths, and access to a large unfinished basement. Central air and heat serve all units, while interior features include tile and hardwood flooring, laundry areas, kitchens, and terraces.
Built in 1975, the property is zoned R5 and includes an attached two-car garage. The upper residence has a covered front terrace, while the other apartment includes a front terrace and rear porch over the garage. The lot measures 0.0918 acres and is located in Brooklyn, Kings County, New York.
Built in 1975, the property is zoned R5 and includes an attached two-car garage. The upper residence has a covered front terrace, while the other apartment includes a front terrace and rear porch over the garage. The lot measures 0.0918 acres and is located in Brooklyn, Kings County, New York.
Key Highlights
- Two residential apartments plus first‑floor medical office use
- Approximately 5,000 square feet, including basement
- 4,000‑square‑foot corner lot measuring 0.0918 acres
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
Apartment 5plus
$2.18M
$1.91M – $2.54M
NOI $152,645 @ 7.0% cap · market cap 9.26%
Second Best
Office B
$1.78M
$1.56M – $2.08M
NOI $124,740 @ 7.0% cap · market cap 7.56%
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
Lease Details
1
Office units
2
Residential units
Multi-tenant
Tenancy
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?
Multifamily property - Detached brick building combines two residential units with first-floor medical office use.
Where is this multifamily property located?
The property is located at 2177 E 69th Street 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: Two residential apartments plus first‑floor medical office use; Approximately 5,000 square feet, including basement; 4,000‑square‑foot corner lot measuring 0.0918 acres
