Updated Three-Unit
For Sale
$849,000
Pending
285 Lincoln Ave, Brooklyn, NY 11208
Updated three-unit residence with income potential in Brooklyn.
Property Size2,080 SF
Lot Size0.04 Acres
Days on Market267
Property Features for 285 Lincoln Ave
General Information
Standard status
Pending
Size
2,080 SF
Lot size
0.04 Acres
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$7,131
Building Details
Building Size
2,080 SF
Year Built
1910
Units
3
Listing Agency:
NYC Queens Ozone Park
(646) 250-6512
Listed By:
Agatha Lubas · License #10301213345
(646) 250-6512
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 21
Last Checked: Aug 21 at 8:37AM
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 NYC Queens Ozone Park
Investment Insights
Based on property information with market context.
The property at 285 Lincoln Avenue is a legal two-family home, updated in 2020 and laid out as a three-unit residence. The lower level features a two-bedroom unit with direct walkouts to both the front and backyard. The first floor contains a two- to three-bedroom apartment currently rented at $2,000 per month. The second floor includes a three- to four-bedroom unit. Both upper units have hardwood floors and in-unit washer and dryer. The first floor will be delivered occupied, while the second floor and lower level will be vacant at closing. This property offers a blend of modern comfort and rental income potential.
Key Highlights
- Updated legal two‑family home (three‑unit residence): great for various living arrangements or rental income.
- Rental income potential: First‑floor unit brings in $2,000 per month.
- Fully updated in 2020: Enjoy modern comfort and reduced maintenance.
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
$47,543
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
5.60%
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%
$950,860
$950.9K
Cap Rate 7%
$679,186
$679.2K
Cap Rate 9%
$528,256
$528.3K
Market Conditions
NOI Build-Up for 2,080 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
$89.9K $43.20/SF
− Vacancy
−$3.4K −$1.64/SF
EGI
$86.4K $41.56/SF
− OpEx
−$38.9K −$18.70/SF
NOI
$47.5K $22.86/SF
Area
ZIP 11208
Vacancy
3.80%
Lease Rate
$43.20 /SF/Yr
Expense Ratio
45.00%
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%
$950,860
Cap Rate 7%
$679,186
Cap Rate 9%
$528,256
Alternative Uses
Best Use
Apartment 5plus
$679.2K
$594.3K – $792.4K
NOI $47,543 @ 7.0% cap · market cap 5.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $89,089 @ 7.0% cap · market cap 10.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,770
Businesses Nearby
Explore this area
Business Placement
Demographics for 11208, NY
101,958
Population
37,261
Households
2.7
Avg Household Size
35
Median Age
16%
College-Educated
82%
High-School Grad
2.7 sq mi
ZIP Area
37,762
Density / Sq Mi
$59,988
Median Household Income
$40,156
Median Earnings
$1,563
Median Rent
$638,200
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?
Apartment building - Updated three-unit residence with income potential in Brooklyn.
Where is this apartment building located?
The property is located at 285 Lincoln Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Updated legal two‑family home (three‑unit residence): great for various living arrangements or rental income.; Rental income potential: First‑floor unit brings in $2,000 per month.; Fully updated in 2020: Enjoy modern comfort and reduced maintenance.
