Brick Triplex with Private
For Sale
$999,999
3811 Kings Highway, Brooklyn, NY 11234
Three residential units include kitchens, bathrooms, and a backyard sitting area.
Property Size2,660 SF
Lot Size0.04 Acres
Days on Market81
Property Features for 3811 Kings Highway
General Information
Standard status
Active
Size
2,660 SF
Total Parking Spaces
1
Lot size
0.04 Acres
Property subtype
Multi Family Home
Zoning
R5
Units
Unit Mix
2 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
3
Amenities
backyard/sitting area
Building Details
Building Size
2,660 SF
Year Built
1940
Buildings
1
Stories
3
Construction
brick
Listing Agency:
Century 21 Mk Realty
(718) 627-7390
Listed By:
Nouri Chalouh
(718) 627-7390
Source:
Kirinny
Added: Jun 12
Changed: Aug 30
Last Checked: Aug 30 at 5:35PM
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 Century 21 Mk Realty
Investment Insights
Based on property information with market context.
Built in 1940, this brick triplex contains three residential apartments arranged across the ground, first, and second floors. The ground-level and first-floor units each offer one bedroom and one full bathroom, while the upper apartment includes two bedrooms, one full bathroom, a living room, and a full kitchen. The first-floor apartment also has a full kitchen and living room.
The property includes private parking for one vehicle and a backyard sitting area. It occupies a 20' x 85' lot with a 20' x 47' building footprint. Located at 3811 Kings Highway in Brooklyn, the property is zoned R5.
The property includes private parking for one vehicle and a backyard sitting area. It occupies a 20' x 85' lot with a 20' x 47' building footprint. Located at 3811 Kings Highway in Brooklyn, the property is zoned R5.
Key Highlights
- Three‑unit brick property built in 1940
- Unit mix includes two 1‑bedroom apartments and one 2‑bedroom apartment
- Each residence includes 1 full 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
$81,207
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
8.12%
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%
$1,624,140
$1.6M
Cap Rate 7%
$1,160,100
$1.2M
Cap Rate 9%
$902,300
$902.3K
Market Conditions
NOI Build-Up for 2,660 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
$150.7K $56.64/SF
− Vacancy
−$3.0K −$1.13/SF
EGI
$147.6K $55.51/SF
− OpEx
−$66.4K −$24.98/SF
NOI
$81.2K $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%
$1,624,140
Cap Rate 7%
$1,160,100
Cap Rate 9%
$902,300
Alternative Uses
Best Use
Multifamily LT 5
$1.33M
$1.16M – $1.55M
NOI $93,158 @ 7.0% cap · market cap 9.32%
Second Best
Apartment 5plus
$1.16M
$1.02M – $1.35M
NOI $81,207 @ 7.0% cap · market cap 8.12%
Theoretical Best
Specialty Retail
$2.20M
$1.93M – $2.57M
NOI $154,174 @ 7.0% cap · market cap 15.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
3,827
Businesses Nearby
Explore this area
Business Placement
Demographics for 11234, NY
92,133
Population
35,167
Households
2.6
Avg Household Size
41
Median Age
39%
College-Educated
89%
High-School Grad
7.4 sq mi
ZIP Area
12,450
Density / Sq Mi
$94,434
Median Household Income
$55,206
Median Earnings
$1,771
Median Rent
$746,800
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 residential units include kitchens, bathrooms, and a backyard sitting area.
Where is this triplex located?
The property is located at 3811 Kings Highway Brooklyn, NY.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: Three‑unit brick property built in 1940; Unit mix includes two 1‑bedroom apartments and one 2‑bedroom apartment; Each residence includes 1 full bathroom
