Attached Brick Three-Family
For Sale
$1,300,000
235 Bay Ridge Ave, Brooklyn, NY 11220
Fully rented triplex with R4B zoning, a three-bedroom residence, and two two-bedroom residences.
Property Size1,648 SF
Lot Size0.04 Acres
Days on Market52
Property Features for 235 Bay Ridge Ave
General Information
Standard status
Active
Size
1,648 SF
Lot size
0.04 Acres
Property subtype
Multi Family
Zoning
R4B
Occupancy
100%
Units
Unit Mix
1 x 3BR, 2 x 2BR
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$8,693
Building Details
Building Size
1,648 SF
Year Built
1925
Stories
2
Construction
brick
Listing Agency:
Top Choice Realty LLC
Listed By:
Ola Tleis · License #10401350313
(929) 488-3666
Source:
Elliman
Added: Jul 18
Changed: Aug 29
Last Checked: Sep 6 at 10:10AM
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 Top Choice Realty LLC
Investment Insights
Based on property information with market context.
This attached brick triplex contains three residential units arranged as one three-bedroom residence above two two-bedroom residences. The property is fully rented and carries a certificate of occupancy for three-family use. R4B zoning supports the existing multifamily configuration.
The building is located at 235 Bay Ridge Avenue in Brooklyn’s Bay Ridge area. The lot measures 18.33 x 100, with a reported building size of 18.48 and property size of 1,648. Constructed in 1925, the property offers an established three-unit layout for continued residential income use.
The building is located at 235 Bay Ridge Avenue in Brooklyn’s Bay Ridge area. The lot measures 18.33 x 100, with a reported building size of 18.48 and property size of 1,648. Constructed in 1925, the property offers an established three-unit layout for continued residential income use.
Key Highlights
- Legal three‑family property with certificate of occupancy
- Fully rented three‑unit configuration
- Unit mix includes one three‑bedroom and two two‑bedroom residences
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
$49,069
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
3.77%
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%
$981,380
$981.4K
Cap Rate 7%
$700,986
$701.0K
Cap Rate 9%
$545,211
$545.2K
Market Conditions
NOI Build-Up for 1,648 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
$73.2K $44.40/SF
− Vacancy
−$3.1K −$1.86/SF
EGI
$70.1K $42.54/SF
− OpEx
−$21.0K −$12.76/SF
NOI
$49.1K $29.77/SF
Area
ZIP 11220
Vacancy
4.20%
Lease Rate
$44.40 /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%
$981,380
Cap Rate 7%
$700,986
Cap Rate 9%
$545,211
Alternative Uses
Best Use
Multifamily LT 5
$701.0K
$613.4K – $817.8K
NOI $49,069 @ 7.0% cap · market cap 3.77%
Second Best
Apartment 5plus
$627.8K
$549.3K – $732.5K
NOI $43,947 @ 7.0% cap · market cap 3.38%
Theoretical Best
Office A
$1.07M
$934.8K – $1.25M
NOI $74,785 @ 7.0% cap · market cap 5.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
3,330
Businesses Nearby
Explore this area
Business Placement
Demographics for 11220, NY
105,797
Population
30,897
Households
3.4
Avg Household Size
35
Median Age
25%
College-Educated
62%
High-School Grad
1.7 sq mi
ZIP Area
62,234
Density / Sq Mi
$64,201
Median Household Income
$31,489
Median Earnings
$1,688
Median Rent
$1,021,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Fully rented triplex with R4B zoning, a three-bedroom residence, and two two-bedroom residences.
Where is this triplex located?
The property is located at 235 Bay Ridge Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Legal three‑family property with certificate of occupancy; Fully rented three‑unit configuration; Unit mix includes one three‑bedroom and two two‑bedroom residences
