8-Unit Apartment
For Sale
$1,550,000
2539 Church Avenue, Brooklyn, NY 11226
Three vacant units support market-rate leasing or owner occupancy at delivery.
Property Size6,020 SF
Days on Market162
Property Features for 2539 Church Avenue
General Information
Standard status
Active
Size
6,020 SF
Property subtype
Commercial
Zoning
R6
Additional Details
Public Transit
Yes
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$21,203
Building Details
Building Size
6,020 SF
Year Built
1931
Buildings
1
Stories
4
Units
8
Listing Agency:
Cosmo Group Realty
(516) 246-9022
Listed By:
Milagros Rivera CBR
(516) 244-0086
Source:
Alexandermadisonhomes
Added: Apr 1
Changed: Sep 8
Last Checked: Sep 8 at 7:09AM
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 Cosmo Group Realty
Investment Insights
Based on property information with market context.
This 8-unit apartment building was constructed in 1931 and will be delivered with three vacant units. The available apartments can support market-rate leasing or owner occupancy, while the remaining unit mix provides an established multifamily configuration.
The property is located at 2539 Church Ave, Brooklyn, NY 11226, in Flatbush. Church Avenue offers access to public transportation, shopping, dining, and major thoroughfares. The location records a 95 Walk Score, 100 Transit Score, and 83 Bike Score, placing everyday services and transportation options within a highly walkable, transit-oriented setting.
The property is located at 2539 Church Ave, Brooklyn, NY 11226, in Flatbush. Church Avenue offers access to public transportation, shopping, dining, and major thoroughfares. The location records a 95 Walk Score, 100 Transit Score, and 83 Bike Score, placing everyday services and transportation options within a highly walkable, transit-oriented setting.
Key Highlights
- 8‑unit multifamily building constructed in 1931
- Three vacant units delivered with the property
- Market‑rate leasing or owner occupancy supported by the vacant units
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
$141,128
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
9.11%
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%
$2,822,560
$2.8M
Cap Rate 7%
$2,016,114
$2.0M
Cap Rate 9%
$1,568,089
$1.6M
Market Conditions
NOI Build-Up for 6,020 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
$267.3K $44.40/SF
− Vacancy
−$10.7K −$1.78/SF
EGI
$256.6K $42.62/SF
− OpEx
−$115.5K −$19.18/SF
NOI
$141.1K $23.44/SF
Area
ZIP 11226
Vacancy
4.00%
Lease Rate
$44.40 /SF/Yr
Expense Ratio
45.00%
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%
$2,822,560
Cap Rate 7%
$2,016,114
Cap Rate 9%
$1,568,089
Alternative Uses
Best Use
Apartment 5plus
$2.02M
$1.76M – $2.35M
NOI $141,128 @ 7.0% cap · market cap 9.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.98M
$2.60M – $3.47M
NOI $208,282 @ 7.0% cap · market cap 13.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
6,808
Businesses Nearby
Explore this area
Business Placement
Demographics for 11226, NY
101,727
Population
42,618
Households
2.4
Avg Household Size
37
Median Age
36%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
78,252
Density / Sq Mi
$81,084
Median Household Income
$49,892
Median Earnings
$1,751
Median Rent
$866,300
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Three vacant units support market-rate leasing or owner occupancy at delivery.
Where is this apartment building located?
The property is located at 2539 Church Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: 8‑unit multifamily building constructed in 1931; Three vacant units delivered with the property; Market‑rate leasing or owner occupancy supported by the vacant units
