Vacant Three-Family Frame
New
For Sale
Contact for pricing
350 77th St, Brooklyn, NY 11209
Two-story walk-up with a detached garage, driveway, and delivery vacant at closing.
Property Size2,717 SF
Lot Size0.09 Acres
Price / SF$809.72
Days on Market6
Property Features for 350 77th St
General Information
Standard status
Active
Size
2,717 SF
Lot size
0.09 Acres
Property subtype
MULTIFAMILY
Zoning
R4A
Building Details
Stories
2
Construction
frame
Tenancy
Multi
Listing Agency:
Tri State Commercial Realty
(718) 437-6100
Listed By:
Nicole Cronin · License #10311204539
(951) 551-2377
Source:
Moodyscre
Added: Aug 6
Changed: Aug 11
Last Checked: Aug 11 at 1:20PM
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 Tri State Commercial Realty
Investment Insights
Based on property information with market context.
This two-story, frame walk-up is configured as a three-family residential property and is expected to be delivered vacant at closing. The building sits on a 3,827 SF lot and includes a detached frame garage measuring approximately 192 SF, along with a driveway. Vacant possession allows the next owner to evaluate the property without existing tenant lease obligations.
The property is located at 350 77th St in Brooklyn, between Third and Fourth Avenues and approximately 0.05 miles from the R train at 4th Avenue and 77th Street. It is within the Bay Ridge Special District and carries R4A zoning. The source information identifies approximately 1.0 residential FAR and about 1,110 SF of theoretical remaining buildable area, subject to applicable bulk, yard, height, special-district, and building-code requirements.
The property is located at 350 77th St in Brooklyn, between Third and Fourth Avenues and approximately 0.05 miles from the R train at 4th Avenue and 77th Street. It is within the Bay Ridge Special District and carries R4A zoning. The source information identifies approximately 1.0 residential FAR and about 1,110 SF of theoretical remaining buildable area, subject to applicable bulk, yard, height, special-district, and building-code requirements.
Key Highlights
- Three‑family, two‑story frame walk‑up building
- Vacant delivery at closing
- 3,827 SF lot with detached 192 SF frame garage and driveway
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
$95,154
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
4.33%
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%
$1,903,080
$1.9M
Cap Rate 7%
$1,359,343
$1.4M
Cap Rate 9%
$1,057,267
$1.1M
Market Conditions
NOI Build-Up for 2,717 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
$138.6K $51.00/SF
− Vacancy
−$2.6K −$0.97/SF
EGI
$135.9K $50.03/SF
− OpEx
−$40.8K −$15.01/SF
NOI
$95.2K $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%
$1,903,080
Cap Rate 7%
$1,359,343
Cap Rate 9%
$1,057,267
Alternative Uses
Best Use
Multifamily LT 5
$1.36M
$1.19M – $1.59M
NOI $95,154 @ 7.0% cap · market cap 4.33%
Second Best
Apartment 5plus
$1.18M
$1.04M – $1.38M
NOI $82,947 @ 7.0% cap · market cap 3.77%
Theoretical Best
Specialty Retail
$2.25M
$1.97M – $2.62M
NOI $157,477 @ 7.0% cap · market cap 7.16%
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
4,791
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 - Two-story walk-up with a detached garage, driveway, and delivery vacant at closing.
Where is this triplex located?
The property is located at 350 77th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Three‑family, two‑story frame walk‑up building; Vacant delivery at closing; 3,827 SF lot with detached 192 SF frame garage and driveway
