3-Unit
For Sale
$1,100,000
2294 Atlantic Avenue, Brooklyn, NY 11233
Each residence features a two-bedroom, one-bath layout with spacious living areas and tenant-paid utilities.
Property Size2,160 SF
Days on Market142
Property Features for 2294 Atlantic Avenue
General Information
Standard status
Active
Size
2,160 SF
Property subtype
Multi Family Home
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Building Details
Building Size
2,160 SF
Listing Agency:
Exp Realty Bkny
(888) 276-0630
Listed By:
Kenwood Chan
(888) 276-0630
Source:
Michaelfraulo
Added: Apr 12
Changed: Aug 28
Last Checked: Aug 29 at 10:19AM
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 Exp Realty Bkny
Investment Insights
Based on property information with market context.
Located at 2294 Atlantic Avenue in Brooklyn, this triplex contains three residential units, each configured with two bedrooms and one bathroom. The residences offer spacious living areas within a consistent layout, and the building has been maintained to limit the need for immediate capital improvements.
The property has a strong rent roll and reliable occupancy. Tenants cover most utilities, while the building is described as having minimal operating expenses, supporting a simpler ownership profile. The three-unit configuration provides a straightforward multifamily setup at a single Brooklyn address.
The property has a strong rent roll and reliable occupancy. Tenants cover most utilities, while the building is described as having minimal operating expenses, supporting a simpler ownership profile. The three-unit configuration provides a straightforward multifamily setup at a single Brooklyn address.
Key Highlights
- Three residential units, each with 2 bedrooms and 1 bathroom
- 2294 Atlantic Avenue, Brooklyn, NY 11233
- Strong rent roll supported by reliable occupancy
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
$75,647
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
6.88%
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%
$1,512,940
$1.5M
Cap Rate 7%
$1,080,671
$1.1M
Cap Rate 9%
$840,522
$840.5K
Market Conditions
NOI Build-Up for 2,160 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
$110.2K $51.00/SF
− Vacancy
−$2.1K −$0.97/SF
EGI
$108.1K $50.03/SF
− OpEx
−$32.4K −$15.01/SF
NOI
$75.6K $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 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%
$1,512,940
Cap Rate 7%
$1,080,671
Cap Rate 9%
$840,522
Alternative Uses
Best Use
Multifamily LT 5
$1.08M
$945.6K – $1.26M
NOI $75,647 @ 7.0% cap · market cap 6.88%
Second Best
Apartment 5plus
$942.0K
$824.3K – $1.10M
NOI $65,943 @ 7.0% cap · market cap 5.99%
Theoretical Best
Specialty Retail
$1.79M
$1.56M – $2.09M
NOI $125,194 @ 7.0% cap · market cap 11.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
3,661
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Each residence features a two-bedroom, one-bath layout with spacious living areas and tenant-paid utilities.
Where is this triplex located?
The property is located at 2294 Atlantic Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Three residential units, each with 2 bedrooms and 1 bathroom; 2294 Atlantic Avenue, Brooklyn, NY 11233; Strong rent roll supported by reliable occupancy
