Three-Unit Property with
New
For Sale
$1,498,000
2828 Bragg St, Brooklyn, NY 11235
Three-level residential income property with finished basement and private parking.
Property Size3,040 SF
Days on Market4
Property Features for 2828 Bragg St
General Information
Standard status
Active
Size
3,040 SF
Property subtype
Multi Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 1BR/1BA, 2 x 3BR/1.5BA
Multifamily Units
3
Additional Details
Furnished
No
Taxes and HOA fees
Annual Taxes
$8,637
Building Details
Building Size
3,040 SF
Year Built
1970
Buildings
1
Stories
3
Listing Agency:
Momentum Real Estate LLC
(718) 382-0001
Listed By:
Meijuan (Minnie) Lin · License #MJL6058
(718) 382-0001
Source:
Elliman
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 10 at 6:44AM
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 Momentum Real Estate LLC
Investment Insights
Based on property information with market context.
This triplex contains three separate apartments with a varied bedroom mix. The lower-level residence has 1 bedroom and 1 full bathroom, while the second-floor unit offers 3 bedrooms, 1.5 bathrooms, and access to a fully finished basement. The third-floor apartment includes 3 bedrooms and 1.5 bathrooms. A private driveway and built-in garage provide off-street parking.
The property is located at 2828 Bragg St in Brooklyn, near the Belt Parkway, Sheepshead Bay movie theater, shopping, restaurants, and multiple bus lines. Walk Score is 87, Bike Score is 61, and Transit Score is 72. Built in 1970, the property supports both multi-unit occupancy and owner-occupant use as described in the property information.
The property is located at 2828 Bragg St in Brooklyn, near the Belt Parkway, Sheepshead Bay movie theater, shopping, restaurants, and multiple bus lines. Walk Score is 87, Bike Score is 61, and Transit Score is 72. Built in 1970, the property supports both multi-unit occupancy and owner-occupant use as described in the property information.
Key Highlights
- Three apartments with 1‑bedroom and 3‑bedroom layouts
- Second‑floor unit includes access to a fully finished basement
- Private driveway and built‑in garage provide off‑street parking
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
$106,466
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
7.11%
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%
$2,129,320
$2.1M
Cap Rate 7%
$1,520,943
$1.5M
Cap Rate 9%
$1,182,956
$1.2M
Market Conditions
NOI Build-Up for 3,040 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
$155.0K $51.00/SF
− Vacancy
−$2.9K −$0.97/SF
EGI
$152.1K $50.03/SF
− OpEx
−$45.6K −$15.01/SF
NOI
$106.5K $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%
$2,129,320
Cap Rate 7%
$1,520,943
Cap Rate 9%
$1,182,956
Alternative Uses
Best Use
Multifamily LT 5
$1.52M
$1.33M – $1.77M
NOI $106,466 @ 7.0% cap · market cap 7.11%
Second Best
Apartment 5plus
$1.33M
$1.16M – $1.55M
NOI $92,808 @ 7.0% cap · market cap 6.20%
Theoretical Best
Specialty Retail
$2.52M
$2.20M – $2.94M
NOI $176,198 @ 7.0% cap · market cap 11.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,124
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 - Three-level residential income property with finished basement and private parking.
Where is this triplex located?
The property is located at 2828 Bragg St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,498,000.
What are key features of this property?
This property features: Three apartments with 1‑bedroom and 3‑bedroom layouts; Second‑floor unit includes access to a fully finished basement; Private driveway and built‑in garage provide off‑street parking
