Triplex Property with
For Sale
$1,299,000
27 Cass Pl, Brooklyn, NY 11235
Semi-detached, R6-zoned property with two two-bedroom units, one one-bedroom unit, and private outdoor amenities.
Property Size2,820 SF
Days on Market15
Property Features for 27 Cass Pl
General Information
Standard status
Active
Size
2,820 SF
Property subtype
Multi Family
Zoning
R6
Amenities
back yard
private terrace
private driveway
garage
Building Details
Building Size
2,820 SF
Year Built
1950
Tenancy
Multi
Listing Agency:
Remax Real Estate Professionals
(718) 532-2000
Listed By:
Yeugene (Gina) Atayan · License #YA5913
(718) 532-2000
Source:
Elliman
Added: Jul 30
Changed: Jul 31
Last Checked: Aug 13 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 Remax Real Estate Professionals
Investment Insights
Based on property information with market context.
This semi-detached triplex at 27 Cass Pl is configured as a 2-bedroom over a 2-bedroom over a 1-bedroom unit. The property includes a backyard, private terrace, private driveway, and garage. Built in 1950, it is zoned R6 and offers a three-family layout for multifamily ownership.
The property is located in Brooklyn, NY 11235, near the meeting point of Manhattan Beach, Brighton Beach, and Sheepshead Bay. The surrounding area includes beaches, restaurants, shopping, the Emmons Ave promenade, and transportation. WalkScore is 87, indicating Very Walkable access, while TransitScore is 72 and BikeScore is 61.
The property is located in Brooklyn, NY 11235, near the meeting point of Manhattan Beach, Brighton Beach, and Sheepshead Bay. The surrounding area includes beaches, restaurants, shopping, the Emmons Ave promenade, and transportation. WalkScore is 87, indicating Very Walkable access, while TransitScore is 72 and BikeScore is 61.
Key Highlights
- Three‑family configuration: 2‑bedroom over 2‑bedroom over 1‑bedroom
- R6 zoning with semi‑detached construction
- Built in 1950
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
$98,761
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
7.60%
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%
$1,975,220
$2.0M
Cap Rate 7%
$1,410,871
$1.4M
Cap Rate 9%
$1,097,344
$1.1M
Market Conditions
NOI Build-Up for 2,820 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
$143.8K $51.00/SF
− Vacancy
−$2.7K −$0.97/SF
EGI
$141.1K $50.03/SF
− OpEx
−$42.3K −$15.01/SF
NOI
$98.8K $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%
$1,975,220
Cap Rate 7%
$1,410,871
Cap Rate 9%
$1,097,344
Alternative Uses
Best Use
Multifamily LT 5
$1.41M
$1.23M – $1.65M
NOI $98,761 @ 7.0% cap · market cap 7.60%
Second Best
Apartment 5plus
$1.23M
$1.08M – $1.43M
NOI $86,092 @ 7.0% cap · market cap 6.63%
Theoretical Best
Specialty Retail
$2.33M
$2.04M – $2.72M
NOI $163,447 @ 7.0% cap · market cap 12.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,838
Businesses Nearby
Explore this area
Business Placement
Demographics for 11235, NY
88,482
Population
37,188
Households
2.4
Avg Household Size
44
Median Age
50%
College-Educated
90%
High-School Grad
2.5 sq mi
ZIP Area
35,393
Density / Sq Mi
$61,689
Median Household Income
$48,898
Median Earnings
$1,649
Median Rent
$723,900
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 - Semi-detached, R6-zoned property with two two-bedroom units, one one-bedroom unit, and private outdoor amenities.
Where is this triplex located?
The property is located at 27 Cass Pl Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Three‑family configuration: 2‑bedroom over 2‑bedroom over 1‑bedroom; R6 zoning with semi‑detached construction; Built in 1950
