Three-Unit Brownstone with
New
For Sale
$2,495,000
330 Gates Ave, Brooklyn, NY 11216
Well-maintained townhouse with three residences, original character, updated interiors, and a private outdoor area.
Property Size2,877 SF
Price / SF$867.22
Days on Market3
Property Features for 330 Gates Ave
General Information
Standard status
Active
Size
2,877 SF
Property subtype
Multi Family
Units
Unit Mix
1 x 2BR/1.5BA, 2 x 2BR/1BA
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$6,168
Building Details
Building Size
2,877 SF
Year Built
1910
Buildings
1
Units
3
Construction
brownstone
Listing Agency:
Corcoran Group
(917) 406-0338
Listed By:
Eliane Bugod · License #10401327170
(917) 406-0338
Source:
Elliman
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 9 at 5:33AM
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 Corcoran Group
Investment Insights
Based on property information with market context.
This 1910 brownstone contains approximately 2,877 square feet arranged as three residences. The garden and parlor levels form a two-bedroom owner’s duplex with one-and-a-half bathrooms, an eat-in kitchen, exposed brick, oversized windows, hardwood floors, and direct access to a private garden. Its lower level adds a recreation room, laundry room, powder room, and utility space. The second and third floors each contain a two-bedroom, one-bath apartment with bright living areas and preserved architectural details.
The property is located in Bedford-Stuyvesant near restaurants, cafés, and neighborhood businesses including Saraghina, L’Antagoniste, Chez Oskar, Peaches HotHouse, Corto, Early Yves, Trad Room, and Brooklyn Kolache Co. Transit access includes the A/C trains at Nostrand Avenue, the G train at Bedford-Nostrand Avenues, and the J/M/Z trains at Myrtle Avenue. Walk Score is 91, Bike Score is 87, and Transit Score is 100.
The property is located in Bedford-Stuyvesant near restaurants, cafés, and neighborhood businesses including Saraghina, L’Antagoniste, Chez Oskar, Peaches HotHouse, Corto, Early Yves, Trad Room, and Brooklyn Kolache Co. Transit access includes the A/C trains at Nostrand Avenue, the G train at Bedford-Nostrand Avenues, and the J/M/Z trains at Myrtle Avenue. Walk Score is 91, Bike Score is 87, and Transit Score is 100.
Key Highlights
- Approximately 2,877 square feet with three separate residences
- Owner’s duplex spans the garden and parlor levels with 2 bedrooms and 1.5 bathrooms
- Two upper‑level apartments each offer 2 bedrooms and 1 bathroom
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
$100,757
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
4.04%
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%
$2,015,140
$2.0M
Cap Rate 7%
$1,439,386
$1.4M
Cap Rate 9%
$1,119,522
$1.1M
Market Conditions
NOI Build-Up for 2,877 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
$146.7K $51.00/SF
− Vacancy
−$2.8K −$0.97/SF
EGI
$143.9K $50.03/SF
− OpEx
−$43.2K −$15.01/SF
NOI
$100.8K $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%
$2,015,140
Cap Rate 7%
$1,439,386
Cap Rate 9%
$1,119,522
Alternative Uses
Best Use
Multifamily LT 5
$1.44M
$1.26M – $1.68M
NOI $100,757 @ 7.0% cap · market cap 4.04%
Second Best
Apartment 5plus
$1.25M
$1.10M – $1.46M
NOI $87,832 @ 7.0% cap · market cap 3.52%
Theoretical Best
Specialty Retail
$2.38M
$2.08M – $2.78M
NOI $166,751 @ 7.0% cap · market cap 6.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
6,060
Businesses Nearby
Explore this area
Business Placement
Demographics for 11216, NY
61,251
Population
28,825
Households
2.1
Avg Household Size
34
Median Age
56%
College-Educated
91%
High-School Grad
1.0 sq mi
ZIP Area
61,251
Density / Sq Mi
$95,000
Median Household Income
$61,389
Median Earnings
$2,180
Median Rent
$1,398,400
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 - Well-maintained townhouse with three residences, original character, updated interiors, and a private outdoor area.
Where is this triplex located?
The property is located at 330 Gates Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,495,000.
What are key features of this property?
This property features: Approximately 2,877 square feet with three separate residences; Owner’s duplex spans the garden and parlor levels with 2 bedrooms and 1.5 bathrooms; Two upper‑level apartments each offer 2 bedrooms and 1 bathroom
