Five-Unit Apartment
For Sale
$3,400,000
473 Humboldt Street, Brooklyn, NY 11211
COMMERCIAL - Brooklyn, NY
Property Size3,750 SF
Lot Size25.00 Acres
Price / SF$906.67
Days on Market60
Property Features for 473 Humboldt Street
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 1, Bathroom 5, Bathroom 4, Bathroom 3, Bathroom 2
Subdivision
Williamsburg
Standard status
Active
Size
3,750 SF
Lot size
25.00 Acres
Taxes and HOA fees
Tax Annual Amount
10084
Utilities
Heating system
Hot Water(Heating), Natural Gas
Water source
Public
Building Details
Year built
1928
Floors in Building
3
Flooring type
Hardwood, Linoleum
Building materials
Stucco, Brick
Roof type
Flat
Listing Agency:
Ferris Properties Corp.
(718) 383-7800
Listed By:
Laura Ferris · License #10311203579
(718) 383-7800
Added: Jun 12
Changed: Aug 4
Last Checked: Aug 10 at 7:06AM
MLS# 11830933
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This five-unit apartment building was built in 1928 and features stucco and brick construction. The property has a flat roof, public water service, and hot water heating using natural gas. Interior finishes include linoleum and hardwood flooring. The building includes multiple bathrooms, with Bathroom 1 through Bathroom 5 indicated in the property records.
The listing is for 473 Humboldt Street in Brooklyn, NY 11211. The property is described as a completely renovated value-add asset with the delivered largest unit featuring outdoor space, and the remaining units described as in turnkey condition.
The remarks also reference an investor underwriting snapshot, including a 5.1 cap rate as of the present and a 7.5 pro forma cap rate.
The listing is for 473 Humboldt Street in Brooklyn, NY 11211. The property is described as a completely renovated value-add asset with the delivered largest unit featuring outdoor space, and the remaining units described as in turnkey condition.
The remarks also reference an investor underwriting snapshot, including a 5.1 cap rate as of the present and a 7.5 pro forma cap rate.
Key Highlights
- Five‑unit apartment building
- Built in 1928
- Stucco and brick construction with flat roof
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
$114,484
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
3.37%
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%
$2,289,680
$2.3M
Cap Rate 7%
$1,635,486
$1.6M
Cap Rate 9%
$1,272,044
$1.3M
Market Conditions
NOI Build-Up for 3,750 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
$212.4K $56.64/SF
− Vacancy
−$4.2K −$1.13/SF
EGI
$208.2K $55.51/SF
− OpEx
−$93.7K −$24.98/SF
NOI
$114.5K $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%
$2,289,680
Cap Rate 7%
$1,635,486
Cap Rate 9%
$1,272,044
Alternative Uses
Best Use
Apartment 5plus
$1.64M
$1.43M – $1.91M
NOI $114,484 @ 7.0% cap · market cap 3.37%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.10M
$2.72M – $3.62M
NOI $217,350 @ 7.0% cap · market cap 6.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
6,047
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Five-unit building built in 1928 with flat roof, public water, and hot water heating via natural gas.
Where is this apartment building located?
The property is located at 473 Humboldt Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,400,000.
What are key features of this property?
This property features: Five‑unit apartment building; Built in 1928; Stucco and brick construction with flat roof
