Renovated 5-Unit Apartment
For Sale
$3,400,000
473 Humboldt Street, Brooklyn, NY 11211
Business Opportunity, Brooklyn, NY
Property Size3,750 SF
Lot Size25.00 Acres
Price / SF$906.67
Days on Market112
Property Features for 473 Humboldt Street
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 5, Bathroom 4, Bathroom 3, Bathroom 2, Bathroom 1
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
Linoleum, Hardwood
Building materials
Stucco, Brick
Roof type
Flat
Listing Agency:
Ferris Properties Corp.
Listed By:
Laura Ferris · License #10311203579
(718) 383-7800
Added: Jun 12
Changed: Sep 16
Last Checked: Oct 1 at 12:06PM
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 5-unit apartment building contains 3,750 square feet and was built in 1928. The property includes a three-bedroom apartment with outdoor space that is delivered vacant, while the remaining units are described as turnkey and well maintained. Interior finishes include hardwood and linoleum flooring, with hot-water heating powered by natural gas. The building has a flat roof, stucco and brick construction, and public water service.
Located at 473 Humboldt Street in Brooklyn’s 11211 ZIP code, the property is a few blocks from the Graham Avenue L train and Lorimer Street G train. The surrounding area includes dining, art venues, nightlife, fitness studios, yoga studios, and luxury retail. Current cap rate is 5.1%, with a stated pro forma of 7.5%.
Located at 473 Humboldt Street in Brooklyn’s 11211 ZIP code, the property is a few blocks from the Graham Avenue L train and Lorimer Street G train. The surrounding area includes dining, art venues, nightlife, fitness studios, yoga studios, and luxury retail. Current cap rate is 5.1%, with a stated pro forma of 7.5%.
Key Highlights
- 5‑unit apartment building with 3,750 square feet
- Three‑bedroom apartment with outdoor space delivered vacant
- Renovated interiors with remaining units described as turnkey
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
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Five residential units include a vacant three-bedroom apartment with outdoor space and access to Brooklyn subway lines.
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: 5‑unit apartment building with 3,750 square feet; Three‑bedroom apartment with outdoor space delivered vacant; Renovated interiors with remaining units described as turnkey
