Split-Level Triplex with Built-In
For Sale
$2,580,000
264 Bay 11th Street, Brooklyn, NY 11228
MULTI_FAMILY - Brooklyn, NY
Property Size2,719 SF
Lot Size0.07 Acres
Price / SF$948.88
Days on Market58
Property Features for 264 Bay 11th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4
Bedrooms
8
Bathrooms
5
Full bathrooms
3
Half bathrooms
2
Rooms
Bathroom 1, Bathroom 3, Bedroom 1, Bedroom 4, Bedroom 6, Bedroom 2, Bathroom 4, Bedroom 5, Bedroom 7, Bedroom 8, Bathroom 5, Bedroom 3, Bathroom 2
Parking features
Garage
Interior features
Refrigerator, Stove
Basement
Finished
Subdivision
Bensonhurst
Standard status
Active
Size
2,719 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
15102
Amenities
split unit AC
finished backyard
Building Details
Year built
1989
Floors in Building
3
Number of units
3
Flooring type
Hardwood, Tile
Building materials
Masonry
Roof type
Flat
Listing Agency:
Tiger Realty
(917) 708-9966
Listed By:
Hang (Tyler) Chen · License #HC3855
(917) 708-9966
Added: Jun 16
Changed: Aug 4
Last Checked: Aug 12 at 10:06PM
MLS# 502293
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.
Split-level 3-family (triplex) semi-detached home built with masonry/jumbo brick, constructed in 1989. The property has three above-ground floors plus a semi-finished basement, with a flat roof. Each unit is served by separate gas, electric, heating, and water systems, supporting independent utility management. Interior touches include hardwood and tile flooring, and kitchen appliances such as a refrigerator and stove.
The building measures 22 x 50 and sits on a 30 x 96 lot, totaling 0.0666 acres. Parking features a built-in garage plus an additional 8-foot driveway for other cars. The home includes a second-floor split unit AC. Outdoor space includes a finished backyard.
The property is set in Brooklyn’s 11228 Dyker Heights area, near Dyker Beach Golf Course and Dyker Beach Park, with shopping and dining nearby. It is about a half-block from the X28 Express Bus and provides access to the Belt Parkway.
The building measures 22 x 50 and sits on a 30 x 96 lot, totaling 0.0666 acres. Parking features a built-in garage plus an additional 8-foot driveway for other cars. The home includes a second-floor split unit AC. Outdoor space includes a finished backyard.
The property is set in Brooklyn’s 11228 Dyker Heights area, near Dyker Beach Golf Course and Dyker Beach Park, with shopping and dining nearby. It is about a half-block from the X28 Express Bus and provides access to the Belt Parkway.
Key Highlights
- 3‑family semi‑detached split‑level triplex with semi‑finished basement
- Each unit has separate gas, electric, heating, and water systems
- R4 zoning and masonry/jumbo brick construction with flat roof
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
$95,224
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
3.69%
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%
$1,904,480
$1.9M
Cap Rate 7%
$1,360,343
$1.4M
Cap Rate 9%
$1,058,044
$1.1M
Market Conditions
NOI Build-Up for 2,719 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
$138.7K $51.00/SF
− Vacancy
−$2.6K −$0.97/SF
EGI
$136.0K $50.03/SF
− OpEx
−$40.8K −$15.01/SF
NOI
$95.2K $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%
$1,904,480
Cap Rate 7%
$1,360,343
Cap Rate 9%
$1,058,044
Alternative Uses
Best Use
Multifamily LT 5
$1.36M
$1.19M – $1.59M
NOI $95,224 @ 7.0% cap · market cap 3.69%
Second Best
Apartment 5plus
$1.19M
$1.04M – $1.38M
NOI $83,008 @ 7.0% cap · market cap 3.22%
Theoretical Best
Specialty Retail
$2.25M
$1.97M – $2.63M
NOI $157,593 @ 7.0% cap · market cap 6.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,781
Businesses Nearby
Explore this area
Business Placement
Demographics for 11228, NY
45,906
Population
16,336
Households
2.8
Avg Household Size
41
Median Age
37%
College-Educated
80%
High-School Grad
1.5 sq mi
ZIP Area
30,604
Density / Sq Mi
$80,737
Median Household Income
$47,062
Median Earnings
$1,828
Median Rent
$1,131,700
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 - R4-zoned 3-family triplex with split-unit AC and separate utility systems for each unit.
Where is this triplex located?
The property is located at 264 Bay 11th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,580,000.
What are key features of this property?
This property features: 3‑family semi‑detached split‑level triplex with semi‑finished basement; Each unit has separate gas, electric, heating, and water systems; R4 zoning and masonry/jumbo brick construction with flat roof
