Brick Triplex with
For Sale
$1,800,000
253 Newkirk Avenue, Brooklyn, NY 11230
Residential Income, BROOKLYN, NY
Property Size3,000 SF
Lot Size0.09 Acres
Price / SF$600
Days on Market46
Property Features for 253 Newkirk Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bedroom 5, Bedroom 2, Bedroom 1, Laundry Room, Bedroom 6, Bathroom 2, Bedroom 3, Bedroom 4, Bathroom 1
Interior features
Walk-In Closet(s)
Subdivision
Kensington
High school district
22
Standard status
Active
Size
3,000 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Annual Amount
9941
Building Details
Year built
1965
Floors in Building
4
Flooring type
Hardwood, Tile
Building materials
Brick
Listing Agency:
5 BORO REALTY CORP
(917) 705-0005
Listed By:
Nina Sabag · License #1020364
855-305-DEAL
Added: Jul 14
Changed: Aug 27
Last Checked: Aug 28 at 9:06AM
MLS# 11877486
Copyright © 2026 My State MLS. 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 brick triplex at 253 Newkirk Avenue contains 3 rentable units on a 0.0909-acre lot. The property was built in 1965 and includes hardwood and tile flooring, a walk-in closet, and a laundry room. Private parking is complemented by available street parking.
The property sits near Ocean Parkway, Cortelyou Road shops, cafés, and restaurants, and Newkirk Plaza subway station, served by the B and Q trains. Ocean Parkway’s promenade and Prospect Park are also nearby, adding access to established outdoor and recreational destinations.
The interior layout includes at least 6 bedrooms and 3 bathrooms, along with additional rooms identified as a laundry room and walk-in closet. The address is within Brooklyn’s 11230 ZIP Code in Kings County.
The property sits near Ocean Parkway, Cortelyou Road shops, cafés, and restaurants, and Newkirk Plaza subway station, served by the B and Q trains. Ocean Parkway’s promenade and Prospect Park are also nearby, adding access to established outdoor and recreational destinations.
The interior layout includes at least 6 bedrooms and 3 bathrooms, along with additional rooms identified as a laundry room and walk-in closet. The address is within Brooklyn’s 11230 ZIP Code in Kings County.
Key Highlights
- 3 rentable units in a brick triplex
- 0.0909‑acre lot at 253 Newkirk Avenue
- Private parking plus street parking
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
$105,065
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
5.84%
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%
$2,101,300
$2.1M
Cap Rate 7%
$1,500,929
$1.5M
Cap Rate 9%
$1,167,389
$1.2M
Market Conditions
NOI Build-Up for 3,000 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
$153.0K $51.00/SF
− Vacancy
−$2.9K −$0.97/SF
EGI
$150.1K $50.03/SF
− OpEx
−$45.0K −$15.01/SF
NOI
$105.1K $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 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%
$2,101,300
Cap Rate 7%
$1,500,929
Cap Rate 9%
$1,167,389
Alternative Uses
Best Use
Multifamily LT 5
$1.50M
$1.31M – $1.75M
NOI $105,065 @ 7.0% cap · market cap 5.84%
Second Best
Apartment 5plus
$1.31M
$1.14M – $1.53M
NOI $91,587 @ 7.0% cap · market cap 5.09%
Theoretical Best
Specialty Retail
$2.48M
$2.17M – $2.90M
NOI $173,880 @ 7.0% cap · market cap 9.66%
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
4,656
Businesses Nearby
Explore this area
Business Placement
Demographics for 11230, NY
91,391
Population
34,269
Households
2.7
Avg Household Size
35
Median Age
44%
College-Educated
82%
High-School Grad
1.8 sq mi
ZIP Area
50,773
Density / Sq Mi
$69,522
Median Household Income
$43,135
Median Earnings
$1,734
Median Rent
$863,400
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 - Three rentable units offer private and street parking near neighborhood retail, recreation, and B/Q subway service.
Where is this triplex located?
The property is located at 253 Newkirk Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: 3 rentable units in a brick triplex; 0.0909‑acre lot at 253 Newkirk Avenue; Private parking plus street parking
