Three-Story Building with Three
For Sale
Contact for pricing
2224 Fulton St, Brooklyn, NY 11233
Three-unit building featuring two-bedroom apartments and individual metering.
Property Size2,400 SF
Price / SF$625
Days on Market1274
Property Features for 2224 Fulton St
General Information
Standard status
Active
Size
2,400 SF
Class
B
Property subtype
Multifamily
Zoning
R6 (2.43)
Occupancy
100%
Investment Type
Value Add
Building Details
Buildings
1
Stories
3
Units
3
Listing Agency:
Brown Harris Stevens
Listed By:
Kervin Vales · License #109918089
(212) 396-8244
Source:
Crexi
Added: Apr 14, 2023
Changed: Sep 12
Last Checked: Oct 7 at 10:47AM
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 Brown Harris Stevens
Investment Insights
Based on property information with market context.
This is a three-story building with three units and a width of 20 feet. Each apartment features a two-bedroom floor-through layout, complete with a full kitchen, bathroom, and a combined living and dining area. The property is equipped with individual meters for both electric and gas. The first-floor unit provides access to both the basement and the backyard.
Key Highlights
- Three‑unit building
- 20’ wide building
- Individually metered for electric and gas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$84,052
Cap Rate
5.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,681,040
$1.7M
Cap Rate 7%
$1,200,743
$1.2M
Cap Rate 9%
$933,911
$933.9K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$122.4K $51.00/SF
− Vacancy
−$2.3K −$0.97/SF
EGI
$120.1K $50.03/SF
− OpEx
−$36.0K −$15.01/SF
NOI
$84.1K $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 Rate 5%
$1,681,040
Cap Rate 7%
$1,200,743
Cap Rate 9%
$933,911
Alternative Uses
Best Use
Multifamily LT 5
$1.20M
$1.05M – $1.40M
NOI $84,052 @ 7.0% cap · market cap 5.60%
Second Best
Apartment 5plus
$1.05M
$915.9K – $1.22M
NOI $73,270 @ 7.0% cap · market cap 4.88%
Theoretical Best
Specialty Retail
$1.99M
$1.74M – $2.32M
NOI $139,104 @ 7.0% cap · market cap 9.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
3,021
Businesses Nearby
Explore this area
Business Placement
Demographics for 11233, NY
75,399
Population
34,412
Households
2.2
Avg Household Size
35
Median Age
33%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
57,999
Density / Sq Mi
$62,034
Median Household Income
$47,149
Median Earnings
$1,613
Median Rent
$1,013,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit building featuring two-bedroom apartments and individual metering.
Where is this triplex located?
The property is located at 2224 Fulton St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Three‑unit building; 20’ wide building; Individually metered for electric and gas
