Turnkey Three-Family
For Sale
$2,398,000
393 ROGERS Avenue, Brooklyn, NY 11225
Gut-renovated three-family with central air, spacious three-bed layouts, and a shared roof deck near the NYC Subway 2/5 Lines.
Property Size4,100 SF
Lot Size0.04 Acres
Price / SF$584.88
Days on Market127
Property Features for 393 ROGERS Avenue
General Information
Standard status
Active
Size
4,100 SF
Lot size
0.04 Acres
Property subtype
Multi Family
Additional Details
Cap Rate
6.5%
Taxes and HOA fees
Annual Taxes
$8,928
Amenities
central air conditioning and heating
natural oak hardwood flooring
Pella architectural series windows
black granite countertops and stainless steel appliances
in-unit gas washer/dryer and dishwasher
video intercom
recessed lighting
contemporary fully renovated bathrooms
shared finished roof deck
private backyard
Building Details
Building Size
4,100 SF
Year Built
1915
Buildings
1
Tenancy
Multi
Listing Agency:
Corcoran Group
(646) 462-0226
Listed By:
Samuel-Christoph H Tedjasukmana
(646) 462-0226
Source:
Howardhannanyc
Added: Apr 9
Changed: Aug 12
Last Checked: Aug 12 at 3:17PM
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.
393 Rogers Avenue presents a gut-renovated, turnkey three-family townhouse built in approximately 1915. The property contains approximately 4,100 SF across three residences configured as spacious three-bedroom homes with at least two full baths. The garden unit includes a bonus recreation level with an additional half bath, nearly 8-foot ceilings, and direct access to a private backyard, while ceiling heights reach approximately 11 feet on the parlor level.
Interiors are finished with a cohesive, modern package including central air conditioning and heating, natural oak hardwood flooring, Pella architectural series windows, black granite countertops, and stainless steel appliances. Each unit features an in-unit gas washer/dryer and dishwasher, video intercom, recessed lighting, and fully renovated bathrooms. A shared, finished roof deck provides open views and additional outdoor space.
Built on a 20' x 90' lot, the property is positioned at the crossroads of Crown Heights and Prospect Lefferts Gardens. It is located one block from the New York City Subway 2/5 Lines at Sterling Street and along the B49 bus route.
Interiors are finished with a cohesive, modern package including central air conditioning and heating, natural oak hardwood flooring, Pella architectural series windows, black granite countertops, and stainless steel appliances. Each unit features an in-unit gas washer/dryer and dishwasher, video intercom, recessed lighting, and fully renovated bathrooms. A shared, finished roof deck provides open views and additional outdoor space.
Built on a 20' x 90' lot, the property is positioned at the crossroads of Crown Heights and Prospect Lefferts Gardens. It is located one block from the New York City Subway 2/5 Lines at Sterling Street and along the B49 bus route.
Key Highlights
- Approximately 4,100 SF gut‑renovated turnkey three‑family townhouse built in approximately 1915
- Garden unit includes bonus recreation level, additional half bath, nearly 8‑foot ceilings, and direct backyard access
- Shared finished roof deck with open views
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
$143,589
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
5.99%
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%
$2,871,780
$2.9M
Cap Rate 7%
$2,051,271
$2.1M
Cap Rate 9%
$1,595,433
$1.6M
Market Conditions
NOI Build-Up for 4,100 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
$209.1K $51.00/SF
− Vacancy
−$4.0K −$0.97/SF
EGI
$205.1K $50.03/SF
− OpEx
−$61.5K −$15.01/SF
NOI
$143.6K $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%
$2,871,780
Cap Rate 7%
$2,051,271
Cap Rate 9%
$1,595,433
Alternative Uses
Best Use
Multifamily LT 5
$2.05M
$1.79M – $2.39M
NOI $143,589 @ 7.0% cap · market cap 5.99%
Second Best
Apartment 5plus
$1.79M
$1.56M – $2.09M
NOI $125,169 @ 7.0% cap · market cap 5.22%
Theoretical Best
Specialty Retail
$3.39M
$2.97M – $3.96M
NOI $237,636 @ 7.0% cap · market cap 9.91%
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
5,097
Businesses Nearby
Explore this area
Business Placement
Demographics for 11225, NY
58,786
Population
26,703
Households
2.2
Avg Household Size
36
Median Age
48%
College-Educated
89%
High-School Grad
0.9 sq mi
ZIP Area
65,318
Density / Sq Mi
$85,201
Median Household Income
$54,639
Median Earnings
$1,733
Median Rent
$1,218,300
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 - Gut-renovated three-family with central air, spacious three-bed layouts, and a shared roof deck near the NYC Subway 2/5 Lines.
Where is this triplex located?
The property is located at 393 ROGERS Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,398,000.
What are key features of this property?
This property features: Approximately 4,100 SF gut‑renovated turnkey three‑family townhouse built in approximately 1915; Garden unit includes bonus recreation level, additional half bath, nearly 8‑foot ceilings, and direct backyard access; Shared finished roof deck with open views
