Building Details

Year built 1920

Floors in Building 3

Number of units 5

Flooring type Hardwood, Tile

Roof type Rubber

Architectural style Other

Listing Agency: BHHS Fillmore R.E. Show Phone

Listed By: Gus Ktistakis Show Phone

Added: Oct 9, 2024 Changed: Oct 13 Last Checked: Oct 18 at 9:06AM

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MLS# 486644

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Investment Insights

Based on property information with market context.

This 5,063-square-foot multifamily triplex is offered together with the building at 2194 McDonald Avenue. The property was built in 1920 and includes refrigerator and stove appliances, hardwood and tile flooring, and a rubber roof. The lot measures 0.155 acres, with zoning designated R4A and M1-1.

The property is near Avenue U, the F train, and the B3 bus route, providing access to nearby transit connections. The offering includes the additional McDonald Avenue building as part of the sale package.

Key Highlights

• 5,063‑square‑foot multifamily triplex
• Offered as a package with 2194 McDonald Avenue
• 0.155‑acre lot

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$154,568

Cap Rate

8.59%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,091,360 $3.1M

Cap Rate 7%

$2,208,114 $2.2M

Cap Rate 9%

$1,717,422 $1.7M

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,063 SF

Gross rent

$286.8K $56.64/SF

− Vacancy

−$5.7K −$1.13/SF

EGI

$281.0K $55.51/SF

− OpEx

−$126.5K −$24.98/SF

NOI

$154.6K $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 Rate 5%

$3,091,360

Cap Rate 7%

$2,208,114

Cap Rate 9%

$1,717,422

Alternative Uses

Best Use

Multifamily LT 5

$2.53M

$2.22M – $2.96M (±1% cap)

NOI $177,315 @ 7.0% cap · market cap 9.85%

Second Best

Apartment 5plus

$2.21M

$1.93M – $2.58M (±1% cap)

NOI $154,568 @ 7.0% cap · market cap 8.59%

Theoretical Best

Specialty Retail

$4.19M

$3.67M – $4.89M (±1% cap)

NOI $293,451 @ 7.0% cap · market cap 16.30%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Triplexes

Suggested Use

Top Pick Real Estate Agency Parking Lot & Garage Law Firm Hotel & Motel Tattoo & Piercing Shop Nursing Home

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

3,592

Businesses Nearby

Explore this area Business Placement

Demographics for 11223, NY

83,519

Population

28,857

Households

2.9

Avg Household Size

37

Median Age

34%

College-Educated

78%

High-School Grad

2.1 sq mi

ZIP Area

39,771

Density / Sq Mi

$63,950

Median Household Income

$40,592

Median Earnings

$1,653

Median Rent

$1,063,200

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Triplex - Multifamily triplex offered with an additional McDonald Avenue building near the F train and B3 bus.

Where is this triplex located?

The property is located at 2196 McDonald Avenue Brooklyn, NY.

What is the asking price?

The asking price for this property is $1,800,000.

What are key features of this property?

This property features: 5,063‑square‑foot multifamily triplex; Offered as a package with 2194 McDonald Avenue; 0.155‑acre lot