Brick Quadplex with Vacant
For Sale
$1,999,888
2264 85th Street, Brooklyn, NY 11214
Residential, Brooklyn, NY
Property Size3,520 SF
Lot Size0.06 Acres
Price / SF$568.15
Days on Market35
Property Features for 2264 85th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bedrooms
7
Bathrooms
5
Full bathrooms
4
Rooms
Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bathroom 1, Bedroom 5, Bedroom 3, Bedroom 6, Bedroom 7, Bedroom 4, Bathroom 3, Bathroom 2
Basement
Full, Finished
Subdivision
Bensonhurst
Standard status
Active
Size
3,520 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
18191
Building Details
Year built
1924
Floors in Building
2
Number of units
4
Flooring type
Tile, Hardwood
Building materials
Brick
Roof type
Flat
Listing Agency:
DiTommaso Real Estate
Listed By:
Rosalie DiPietro
(718) 667-8000
Added: Aug 28
Changed: Sep 20
Last Checked: Oct 1 at 3:06PM
MLS# 504122
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 3,520-square-foot, semi-detached brick quadplex was built in 1924 and includes three vacant units. Recent work includes a 2024 roof and hatch, upgraded main electrical panels completed in 2020, a new gas header pipe with five meter bars and lock-wing gas valves, four Renewal by Andersen front windows installed in 2019, and a stucco facade and awning completed in 2022. Hardwood and tile flooring are present throughout the property.
The basement has both interior and backyard entrances, along with a 3/4 bath. Security and life-safety equipment includes three exterior Ring floodlight cameras and three Nest Protect fire, smoke, and carbon monoxide devices with Wi-Fi and app control. The property is located at 2264 85th Street in Brooklyn, near the D train, Bay Parkway and 86 Street buses, retail, restaurants, schools, banks, and neighborhood services. Zoning is R5, and the reported Walk Score is 97/100.
The basement has both interior and backyard entrances, along with a 3/4 bath. Security and life-safety equipment includes three exterior Ring floodlight cameras and three Nest Protect fire, smoke, and carbon monoxide devices with Wi-Fi and app control. The property is located at 2264 85th Street in Brooklyn, near the D train, Bay Parkway and 86 Street buses, retail, restaurants, schools, banks, and neighborhood services. Zoning is R5, and the reported Walk Score is 97/100.
Key Highlights
- Four‑family brick property with 3 vacant units
- 3,520 square feet on a 0.0624‑acre lot
- New roof and hatch completed in 2024
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
$96,007
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
4.80%
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%
$1,920,140
$1.9M
Cap Rate 7%
$1,371,529
$1.4M
Cap Rate 9%
$1,066,744
$1.1M
Market Conditions
NOI Build-Up for 3,520 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
$143.6K $40.80/SF
− Vacancy
−$6.5K −$1.84/SF
EGI
$137.2K $38.96/SF
− OpEx
−$41.1K −$11.69/SF
NOI
$96.0K $27.27/SF
Area
ZIP 11214
Vacancy
4.50%
Lease Rate
$40.80 /SF/Yr
Expense Ratio
30.00%
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%
$1,920,140
Cap Rate 7%
$1,371,529
Cap Rate 9%
$1,066,744
Alternative Uses
Best Use
Multifamily LT 5
$1.37M
$1.20M – $1.60M
NOI $96,007 @ 7.0% cap · market cap 4.80%
Second Best
Apartment 5plus
$1.23M
$1.08M – $1.43M
NOI $86,044 @ 7.0% cap · market cap 4.30%
Theoretical Best
Office A
$2.05M
$1.80M – $2.40M
NOI $143,738 @ 7.0% cap · market cap 7.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
3,829
Businesses Nearby
Explore this area
Business Placement
Demographics for 11214, NY
96,560
Population
33,341
Households
2.9
Avg Household Size
39
Median Age
32%
College-Educated
76%
High-School Grad
2.0 sq mi
ZIP Area
48,280
Density / Sq Mi
$64,286
Median Household Income
$41,172
Median Earnings
$1,710
Median Rent
$1,007,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Quadplex - Semi-detached multifamily property with recent building upgrades, basement access, and proximity to transit, shopping, schools, and neighborhood services.
Where is this quadplex located?
The property is located at 2264 85th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,999,888.
What are key features of this property?
This property features: Four‑family brick property with 3 vacant units; 3,520 square feet on a 0.0624‑acre lot; New roof and hatch completed in 2024
