Williamsburg Corner Property with
For Sale
$3,099,000
Pending
382 Manhattan Ave, Brooklyn, NY 11211
Three-family residence with remodeling potential and a three-car garage.
Property Size3,000 SF
Days on Market193
Property Features for 382 Manhattan Ave
General Information
Standard status
Pending
Size
3,000 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$5,835
Building Details
Building Size
3,000 SF
Year Built
1901
Units
3
Listing Agency:
Keller Williams Rlty Landmark
Listed By:
Nicholas Zestanakis · License #10401337226
(347) 607-9403
Source:
Elliman
Added: Apr 15
Changed: Oct 22
Last Checked: Oct 23 at 10:02AM
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 Rlty Landmark
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Investment Insights
Based on property information with market context.
This Williamsburg corner property presents an opportunity for reconfiguration, extension, or remodeling. Currently configured as a 3-family residence, it features one 3-bedroom, 1-bath apartment and two 2-bedroom, 1-bath apartments. A full basement with separate Bilco access is included, along with a 3-car garage that offers expansion possibilities. The top-floor 3-bedroom unit has been renovated, while the remaining spaces are ready for updates. The second-floor apartment includes a 675+ sq. ft. private terrace above the garage, and the first floor provides an additional storage closet in the common area. The property has 4 electric meters and 2 gas meters. While currently used as a 3-family, the building historically featured a commercial storefront on the first floor with residences above, suggesting potential for a similar mixed-use setup. The property has a bike score of 90, walk score of 98, and transit score of 100.
Key Highlights
- Rare 3‑car garage offering expansion potential.
- Flexible 3‑family configuration with potential for reconfiguration or remodeling.
- Prime corner property location in desirable Williamsburg.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$105,065
Cap Rate
3.39%
Suggested Prices Based on Cap Rates
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
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 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 3.39%
Second Best
Apartment 5plus
$1.31M
$1.14M – $1.53M
NOI $91,587 @ 7.0% cap · market cap 2.96%
Theoretical Best
Specialty Retail
$2.48M
$2.17M – $2.90M
NOI $173,880 @ 7.0% cap · market cap 5.61%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
6,990
Businesses Nearby
Explore this area
Business Placement
Demographics for 11211, NY
68,540
Population
29,068
Households
2.4
Avg Household Size
31
Median Age
55%
College-Educated
86%
High-School Grad
1.5 sq mi
ZIP Area
45,693
Density / Sq Mi
$105,183
Median Household Income
$67,533
Median Earnings
$2,357
Median Rent
$1,118,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three-family residence with remodeling potential and a three-car garage.
Where is this triplex located?
The property is located at 382 Manhattan Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,099,000.
What are key features of this property?
This property features: Rare 3‑car garage offering expansion potential.; Flexible 3‑family configuration with potential for reconfiguration or remodeling.; Prime corner property location in desirable Williamsburg.
