Brick Triplex with Detached
New
For Sale
$1,800,000
403 Stockholm Street, Brooklyn, NY 11237
Three vacant apartments offer a two-bedroom layout, two one-bedroom units, and flexible occupancy options.
Property Size2,720 SF
Lot Size0.06 Acres
Price / SF$661.76
Days on Market3
Property Features for 403 Stockholm Street
General Information
Standard status
Active
Size
2,720 SF
Total Parking Spaces
1
Lot size
0.06 Acres
Property subtype
Triplex
Zoning
R6
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 1BR, 1 x 2BR
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$5,878
Amenities
backyard
full basement
Building Details
Building Size
2,720 SF
Year Built
1935
Construction
brick
Listing Agency:
Capri Jet Realty Corp
Listed By:
Theo F. Eastwind · License #10301212398
(718) 388-2188
Source:
Cbwarburg
Added: Aug 31
Changed: Sep 1
Last Checked: Sep 1 at 4:48PM
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 Capri Jet Realty Corp
Investment Insights
Based on property information with market context.
This 2,720 SF brick triplex was built in 1935 and includes three vacant apartments: two one-bedroom units on the second floor and a larger two-bedroom residence on the first floor. The property also provides a full basement, private backyard, and detached one-car garage. Its vacant condition allows for immediate planning around renovation, occupancy, or multi-generational use.
The property occupies a 25 x 100 ft lot at 403 Stockholm St in Brooklyn. It is zoned R6, with approximately 3,350 SF of additional development potential subject to independent architectural and zoning verification. Wyckoff Heights Medical Center is located on Stockholm St, while the DeKalb Ave L train is nearby at Wyckoff Ave. WalkScore and BikeScore are both 86, and TransitScore is 98.
The property occupies a 25 x 100 ft lot at 403 Stockholm St in Brooklyn. It is zoned R6, with approximately 3,350 SF of additional development potential subject to independent architectural and zoning verification. Wyckoff Heights Medical Center is located on Stockholm St, while the DeKalb Ave L train is nearby at Wyckoff Ave. WalkScore and BikeScore are both 86, and TransitScore is 98.
Key Highlights
- Three vacant residential units: two one‑bedroom apartments and one two‑bedroom apartment
- 2,720 SF brick triplex built in 1935
- 25 x 100 ft lot with private backyard and full basement
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
$95,259
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
5.29%
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%
$1,905,180
$1.9M
Cap Rate 7%
$1,360,843
$1.4M
Cap Rate 9%
$1,058,433
$1.1M
Market Conditions
NOI Build-Up for 2,720 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
$138.7K $51.00/SF
− Vacancy
−$2.6K −$0.97/SF
EGI
$136.1K $50.03/SF
− OpEx
−$40.8K −$15.01/SF
NOI
$95.3K $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%
$1,905,180
Cap Rate 7%
$1,360,843
Cap Rate 9%
$1,058,433
Alternative Uses
Best Use
Multifamily LT 5
$1.36M
$1.19M – $1.59M
NOI $95,259 @ 7.0% cap · market cap 5.29%
Second Best
Apartment 5plus
$1.19M
$1.04M – $1.38M
NOI $83,039 @ 7.0% cap · market cap 4.61%
Theoretical Best
Specialty Retail
$2.25M
$1.97M – $2.63M
NOI $157,651 @ 7.0% cap · market cap 8.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
5,819
Businesses Nearby
Explore this area
Business Placement
Demographics for 11237, NY
49,418
Population
18,801
Households
2.6
Avg Household Size
31
Median Age
41%
College-Educated
76%
High-School Grad
1.0 sq mi
ZIP Area
49,418
Density / Sq Mi
$82,570
Median Household Income
$43,421
Median Earnings
$2,109
Median Rent
$1,063,700
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 - Three vacant apartments offer a two-bedroom layout, two one-bedroom units, and flexible occupancy options.
Where is this triplex located?
The property is located at 403 Stockholm Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Three vacant residential units: two one‑bedroom apartments and one two‑bedroom apartment; 2,720 SF brick triplex built in 1935; 25 x 100 ft lot with private backyard and full basement
