Legal Four-Family Mixed-Use
For Sale
$2,599,999
283 Wyckoff Avenue, Brooklyn, NY 11237
Four residential apartments plus a commercial storefront in a legal four-family mixed-use property built in 1931.
Property Size4,200 SF
Days on Market26
Property Features for 283 Wyckoff Avenue
General Information
Standard status
Active
Size
4,200 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$13,125
Building Details
Building Size
4,200 SF
Year Built
1931
Units
5
Tenancy
Multi
Listing Agency:
Oversouth LLC
(347) 799-9226
Listed By:
Raymond Castillo
(347) 799-9226
Source:
Cohenandcohenrealty
Added: Jul 27
Changed: Aug 8
Last Checked: Aug 21 at 2:24PM
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 Oversouth LLC
Investment Insights
Based on property information with market context.
This legal four-family mixed-use quadplex includes four residential apartments and a commercial storefront. The property is designed to support both residential and commercial use within the same building, offering a straightforward mixed-use configuration for an owner-operator or investor.
The property is located at 283 Wyckoff Avenue in Brooklyn, NY 11237. Built in 1931, it offers an established building footprint with on-site space for both tenancy types.
The combination of four apartments and a dedicated storefront can be attractive for buyers seeking a multi-income setup under one roof, with the flexibility of having residential and commercial space in the same asset.
The property is located at 283 Wyckoff Avenue in Brooklyn, NY 11237. Built in 1931, it offers an established building footprint with on-site space for both tenancy types.
The combination of four apartments and a dedicated storefront can be attractive for buyers seeking a multi-income setup under one roof, with the flexibility of having residential and commercial space in the same asset.
Key Highlights
- Legal four‑family mixed‑use property
- Four residential apartments plus a commercial storefront
- Established building built in 1931
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
$201,409
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
7.75%
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%
$4,028,180
$4.0M
Cap Rate 7%
$2,877,271
$2.9M
Cap Rate 9%
$2,237,878
$2.2M
Market Conditions
NOI Build-Up for 4,200 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
$326.6K $77.76/SF
− Vacancy
−$38.9K −$9.25/SF
EGI
$287.7K $68.51/SF
− OpEx
−$86.3K −$20.55/SF
NOI
$201.4K $47.95/SF
Area
Brooklyn, NY
Vacancy
11.90%
Lease Rate
$77.76 /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%
$4,028,180
Cap Rate 7%
$2,877,271
Cap Rate 9%
$2,237,878
Alternative Uses
Best Use
Retail
$2.88M
$2.52M – $3.36M
NOI $201,409 @ 7.0% cap · market cap 7.75%
Second Best
Multifamily LT 5
$2.10M
$1.84M – $2.45M
NOI $147,091 @ 7.0% cap · market cap 5.66%
Theoretical Best
Specialty Retail
$3.48M
$3.04M – $4.06M
NOI $243,432 @ 7.0% cap · market cap 9.36%
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
5,882
Businesses Nearby
Explore this area
Business Placement
Demographics for 11237, NY
49,418
Population
18,801
Households
2.6
Avg Household Size
31
Median Age
41%
College-Educated
76%
High-School Grad
1.0 sq mi
ZIP Area
49,418
Density / Sq Mi
$82,570
Median Household Income
$43,421
Median Earnings
$2,109
Median Rent
$1,063,700
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?
Quadplex - Four residential apartments plus a commercial storefront in a legal four-family mixed-use property built in 1931.
Where is this quadplex located?
The property is located at 283 Wyckoff Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,599,999.
What are key features of this property?
This property features: Legal four‑family mixed‑use property; Four residential apartments plus a commercial storefront; Established building built in 1931
