Brick Triplex with Rental
For Sale
$1,300,000
235 Bay Ridge Avenue, Brooklyn, NY 11220
Residential, Brooklyn, NY
Property Size1,648 SF
Lot Size0.04 Acres
Price / SF$788.83
Days on Market10
Property Features for 235 Bay Ridge Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4B
Bedrooms
7
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bathroom 3, Bedroom 5, Bedroom 2, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 6, Bedroom 4, Bedroom 7
Interior features
A/C Unit, Dishwasher
Subdivision
Bay Ridge
Standard status
Active
Size
1,648 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
8693
Building Details
Year built
1925
Floors in Building
2
Number of units
3
Flooring type
Hardwood
Building materials
Brick
Roof type
Flat
Listing Agency:
Top Choice Realty LLC
(929) 488-3666
Listed By:
Ola Tleis · License #10401350313
(929) 488-3666
Added: Aug 20
Changed: Aug 21
Last Checked: Aug 29 at 7:06AM
MLS# 503952
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 attached brick triplex contains three residential units arranged as a three-bedroom apartment above two separate two-bedroom apartments. The 1,648-square-foot property was built in 1925 and includes hardwood flooring, A/C units, dishwashers, and a flat roof. All three units are currently rented.
Positioned in Bay Ridge, Brooklyn, the property occupies an 18.33 x 100 lot and carries R4B zoning. Its certificate of occupancy supports the three-family configuration, while the existing unit mix provides a clear multifamily layout for continued residential use.
Positioned in Bay Ridge, Brooklyn, the property occupies an 18.33 x 100 lot and carries R4B zoning. Its certificate of occupancy supports the three-family configuration, while the existing unit mix provides a clear multifamily layout for continued residential use.
Key Highlights
- Three‑family configuration with one three‑bedroom unit and two two‑bedroom units
- All three residential units are completely rented
- 1,648 square feet on an 18.33 x 100 lot
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
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Frequently Asked Questions
What type of property is this?
Triplex - Three residential units are fully leased within an attached brick building.
Where is this triplex located?
The property is located at 235 Bay Ridge Avenue 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: Three‑family configuration with one three‑bedroom unit and two two‑bedroom units; All three residential units are completely rented; 1,648 square feet on an 18.33 x 100 lot
