Brick Walk-Up
New
For Sale
$2,500,000
288 Sumpter St, Brooklyn, NY 11233
Four residential units occupy a semi-detached brick building with a full basement and private rear yard.
Property Size7,468 SF
Days on Market5
Property Features for 288 Sumpter St
General Information
Standard status
Active
Size
7,468 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$10,557
Building Details
Building Size
7,468 SF
Year Built
1912
Units
4
Listing Agency:
Womcore LLC dba Remax Edge
(718) 288-3835
Listed By:
Faig Mikayilov · License #10301220271
(718) 288-3835
Source:
Elliman
Added: Aug 21
Changed: Aug 24
Last Checked: Aug 25 at 10:58AM
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 Womcore LLC dba Remax Edge
Investment Insights
Based on property information with market context.
This semi-detached brick quadplex contains four residential apartments arranged with one unit on each floor. Each apartment measures approximately 1,400 square feet and includes three bedrooms and one bathroom. The building also provides a full unfinished basement, while the first-floor apartment has access to a private backyard.
Built in 1912, the property is located at 288 Sumpter Street in Brooklyn’s Bedford-Stuyvesant neighborhood. Public transportation, shopping, dining, and neighborhood amenities are nearby. Walk Score is 92, Transit Score is 98, and Bike Score is 67. A potential condominium conversion is identified, subject to all required city approvals.
Built in 1912, the property is located at 288 Sumpter Street in Brooklyn’s Bedford-Stuyvesant neighborhood. Public transportation, shopping, dining, and neighborhood amenities are nearby. Walk Score is 92, Transit Score is 98, and Bike Score is 67. A potential condominium conversion is identified, subject to all required city approvals.
Key Highlights
- Four‑family semi‑detached brick walk‑up building
- Each apartment is approximately 1,400 square feet with 3 bedrooms and 1 bathroom
- One residential unit per floor across four floors
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
$227,990
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
9.12%
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%
$4,559,800
$4.6M
Cap Rate 7%
$3,257,000
$3.3M
Cap Rate 9%
$2,533,222
$2.5M
Market Conditions
NOI Build-Up for 7,468 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
$423.0K $56.64/SF
− Vacancy
−$8.5K −$1.13/SF
EGI
$414.5K $55.51/SF
− OpEx
−$186.5K −$24.98/SF
NOI
$228.0K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /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%
$4,559,800
Cap Rate 7%
$3,257,000
Cap Rate 9%
$2,533,222
Alternative Uses
Best Use
Multifamily LT 5
$3.74M
$3.27M – $4.36M
NOI $261,542 @ 7.0% cap · market cap 10.46%
Second Best
Apartment 5plus
$3.26M
$2.85M – $3.80M
NOI $227,990 @ 7.0% cap · market cap 9.12%
Theoretical Best
Specialty Retail
$6.18M
$5.41M – $7.21M
NOI $432,845 @ 7.0% cap · market cap 17.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,963
Businesses Nearby
Explore this area
Business Placement
Demographics for 11233, NY
75,399
Population
34,412
Households
2.2
Avg Household Size
35
Median Age
33%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
57,999
Density / Sq Mi
$62,034
Median Household Income
$47,149
Median Earnings
$1,613
Median Rent
$1,013,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units occupy a semi-detached brick building with a full basement and private rear yard.
Where is this quadplex located?
The property is located at 288 Sumpter St Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Four‑family semi‑detached brick walk‑up building; Each apartment is approximately 1,400 square feet with 3 bedrooms and 1 bathroom; One residential unit per floor across four floors
