Vacant Brick
For Sale
$1,629,000
3-1673 83rd St, Brooklyn, NY 11209
Three flexible residences offer distinct layouts for ownership, occupancy, or multigenerational use.
Property Size3,000 SF
Lot Size0.05 Acres
Price / SF$543
Days on Market38
Property Features for 3-1673 83rd St
General Information
Standard status
Active
Size
3,000 SF
Lot size
0.05 Acres
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$8,162
Building Details
Buildings
1
Construction
brick
Listing Agency:
Keller Williams Realty Staten Island
(917) 724-9751
Listed By:
Weiping Liang · License #10401332637
(917) 724-9751
Source:
Exprealty
Added: Jul 7
Changed: Aug 12
Last Checked: Aug 12 at 12:14PM
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 Keller Williams Realty Staten Island
Investment Insights
Based on property information with market context.
This fully vacant triplex is a well-maintained brick residence on a 20' x 100' lot with approximately 3,000 square feet of living space. The property contains three units: a first-floor residence with 2 bedrooms and 1 full bathroom, a walk-in basement unit with 2 bedrooms and 1.5 bathrooms, and a second-floor residence with 3 bedrooms and 1 full bathroom. Each layout includes stated flexibility for additional bedrooms, including potential three-bedroom configurations on the first floor and basement, and a four-bedroom arrangement upstairs.
The property is located near the D train at 18th Avenue and 79th Street, with B1 and B8 bus service nearby. The surrounding area includes the 86th Street shopping district, restaurants, supermarkets, banks, schools, and other everyday conveniences.
Its three-unit configuration accommodates investor ownership, owner occupancy, or multigenerational living, as described in the property information.
The property is located near the D train at 18th Avenue and 79th Street, with B1 and B8 bus service nearby. The surrounding area includes the 86th Street shopping district, restaurants, supermarkets, banks, schools, and other everyday conveniences.
Its three-unit configuration accommodates investor ownership, owner occupancy, or multigenerational living, as described in the property information.
Key Highlights
- Fully vacant brick triplex with approximately 3,000 square feet of living space
- 20' x 100' lot
- Three units with 2‑bedroom, 2‑bedroom, and 3‑bedroom configurations
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
$105,065
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
6.45%
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%
$2,101,300
$2.1M
Cap Rate 7%
$1,500,929
$1.5M
Cap Rate 9%
$1,167,389
$1.2M
Market Conditions
NOI Build-Up for 3,000 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
$153.0K $51.00/SF
− Vacancy
−$2.9K −$0.97/SF
EGI
$150.1K $50.03/SF
− OpEx
−$45.0K −$15.01/SF
NOI
$105.1K $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%
$2,101,300
Cap Rate 7%
$1,500,929
Cap Rate 9%
$1,167,389
Alternative Uses
Best Use
Multifamily LT 5
$1.50M
$1.31M – $1.75M
NOI $105,065 @ 7.0% cap · market cap 6.45%
Second Best
Apartment 5plus
$1.31M
$1.14M – $1.53M
NOI $91,587 @ 7.0% cap · market cap 5.62%
Theoretical Best
Specialty Retail
$2.48M
$2.17M – $2.90M
NOI $173,880 @ 7.0% cap · market cap 10.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,162
Businesses Nearby
Explore this area
Business Placement
Demographics for 11209, NY
73,239
Population
33,286
Households
2.2
Avg Household Size
40
Median Age
53%
College-Educated
90%
High-School Grad
2.1 sq mi
ZIP Area
34,876
Density / Sq Mi
$92,656
Median Household Income
$62,455
Median Earnings
$1,857
Median Rent
$905,700
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?
Triplex - Three flexible residences offer distinct layouts for ownership, occupancy, or multigenerational use.
Where is this triplex located?
The property is located at 3-1673 83rd St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,629,000.
What are key features of this property?
This property features: Fully vacant brick triplex with approximately 3,000 square feet of living space; 20' x 100' lot; Three units with 2‑bedroom, 2‑bedroom, and 3‑bedroom configurations
