Renovated Brick
For Sale
$1,349,000
2745 Mill Ave, Brooklyn, NY 11234
Two-family residence with a finished basement, radiant heated floors, and a large kitchen-accessible deck.
Property Size2,397 SF
Days on Market8
Property Features for 2745 Mill Ave
General Information
Standard status
Active
Size
2,397 SF
Property subtype
Multi Family
Units
Unit Mix
1 x 3BR/2.5BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$10,417
Amenities
radiant heated floors
deck
Building Details
Building Size
2,397 SF
Year Built
1960
Stories
3
Construction
brick
Listing Agency:
Bergen Basin Realty LLC
Listed By:
Jason Sciulara
(718) 763-4110
Source:
Elliman
Added: Sep 18
Changed: Sep 20
Last Checked: Sep 24 at 11:24AM
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 Bergen Basin Realty LLC
Investment Insights
Based on property information with market context.
This brick two-family residence includes a three-bedroom, two-and-a-half-bath duplex over a separate two-bedroom, one-bath apartment. The lower level is fully finished and has both interior and exterior access, adding flexible usable space to the property.
The home underwent a comprehensive renovation 12 years ago, while the finished basement was renovated 8 years ago. Additional improvements include radiant heated floors, a new roof, a new HWH, and a large deck extending from the kitchen. The property is located at 2745 Mill Ave in Brooklyn’s Mill Basin and has a Walk Score of 84, Transit Score of 80, and Bike Score of 68.
The home underwent a comprehensive renovation 12 years ago, while the finished basement was renovated 8 years ago. Additional improvements include radiant heated floors, a new roof, a new HWH, and a large deck extending from the kitchen. The property is located at 2745 Mill Ave in Brooklyn’s Mill Basin and has a Walk Score of 84, Transit Score of 80, and Bike Score of 68.
Key Highlights
- Two‑family brick residence with a 3 bedroom, 2.5 bath duplex
- Separate 2 bedroom, 1 bath apartment
- Full finished basement renovated 8 years ago
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
$83,947
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
6.22%
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%
$1,678,940
$1.7M
Cap Rate 7%
$1,199,243
$1.2M
Cap Rate 9%
$932,744
$932.7K
Market Conditions
NOI Build-Up for 2,397 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
$122.2K $51.00/SF
− Vacancy
−$2.3K −$0.97/SF
EGI
$119.9K $50.03/SF
− OpEx
−$36.0K −$15.01/SF
NOI
$83.9K $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%
$1,678,940
Cap Rate 7%
$1,199,243
Cap Rate 9%
$932,744
Alternative Uses
Best Use
Multifamily LT 5
$1.20M
$1.05M – $1.40M
NOI $83,947 @ 7.0% cap · market cap 6.22%
Second Best
Apartment 5plus
$1.05M
$914.7K – $1.22M
NOI $73,178 @ 7.0% cap · market cap 5.42%
Theoretical Best
Specialty Retail
$1.98M
$1.74M – $2.32M
NOI $138,930 @ 7.0% cap · market cap 10.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,261
Businesses Nearby
Explore this area
Business Placement
Demographics for 11234, NY
92,133
Population
35,167
Households
2.6
Avg Household Size
41
Median Age
39%
College-Educated
89%
High-School Grad
7.4 sq mi
ZIP Area
12,450
Density / Sq Mi
$94,434
Median Household Income
$55,206
Median Earnings
$1,771
Median Rent
$746,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-family residence with a finished basement, radiant heated floors, and a large kitchen-accessible deck.
Where is this duplex located?
The property is located at 2745 Mill Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,349,000.
What are key features of this property?
This property features: Two‑family brick residence with a 3 bedroom, 2.5 bath duplex; Separate 2 bedroom, 1 bath apartment; Full finished basement renovated 8 years ago
