Brick Two-Family Corner
For Sale
$988,000
2755 East 28th Street, Brooklyn, NY 11235
Solid brick two-family corner property with two full units, finished basement, and recent mechanical and exterior updates.
Property Size1,888 SF
Days on Market58
Property Features for 2755 East 28th Street
General Information
Standard status
Active
Size
1,888 SF
Property subtype
Multi Family Home
Zoning
R4
Additional Details
Multifamily Units
2
Building Details
Building Size
1,888 SF
Year Built
1925
Year Renovated
2018
Stories
2
Construction
solid brick
Tenancy
Multi
Listing Agency:
Ben Bay Realty Co
Listed By:
Michelle Oliviero
(718) 680-6442
Source:
Michaelfraulo
Added: Jul 14
Changed: Sep 8
Last Checked: Sep 8 at 4:19AM
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 Ben Bay Realty Co
Investment Insights
Based on property information with market context.
Solid brick two-family corner home delivered vacant. The first floor includes a formal living room, eat-in kitchen, dining room, and two bedrooms with one full bath. The second floor offers a matching layout with a formal living room, eat-in kitchen, dining room, and two bedrooms with one full bath. A finished basement with a separate entrance adds additional usable space.
The first floor apartment was renovated in 2018. Boiler and electric were replaced in 2013, with new pointing completed in 2015 and a new roof added as well.
The first floor apartment was renovated in 2018. Boiler and electric were replaced in 2013, with new pointing completed in 2015 and a new roof added as well.
Key Highlights
- Solid brick 2‑family corner home built in 1925 with two full units and finished basement.
- Both units include formal living room, EIK, dining room, and 2 bedrooms with 1 full bath each.
- First floor apartment renovated in 2018.
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
$66,121
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
6.69%
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%
$1,322,420
$1.3M
Cap Rate 7%
$944,586
$944.6K
Cap Rate 9%
$734,678
$734.7K
Market Conditions
NOI Build-Up for 1,888 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
$96.3K $51.00/SF
− Vacancy
−$1.8K −$0.97/SF
EGI
$94.5K $50.03/SF
− OpEx
−$28.3K −$15.01/SF
NOI
$66.1K $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%
$1,322,420
Cap Rate 7%
$944,586
Cap Rate 9%
$734,678
Alternative Uses
Best Use
Multifamily LT 5
$944.6K
$826.5K – $1.10M
NOI $66,121 @ 7.0% cap · market cap 6.69%
Second Best
Apartment 5plus
$823.4K
$720.5K – $960.7K
NOI $57,639 @ 7.0% cap · market cap 5.83%
Theoretical Best
Specialty Retail
$1.56M
$1.37M – $1.82M
NOI $109,428 @ 7.0% cap · market cap 11.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,670
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
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
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Frequently Asked Questions
What type of property is this?
Duplex - Solid brick two-family corner property with two full units, finished basement, and recent mechanical and exterior updates.
Where is this duplex located?
The property is located at 2755 East 28th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $988,000.
What are key features of this property?
This property features: Solid brick 2‑family corner home built in 1925 with two full units and finished basement.; Both units include formal living room, EIK, dining room, and 2 bedrooms with 1 full bath each.; First floor apartment renovated in 2018.
