Multifamily Property with Finished
For Sale
$1,035,000
499 Hegeman Avenue, Brooklyn, NY 11207
A renovated two-level interior and completed basement provide added usable space in this Brooklyn multifamily property.
Property Size3,000 SF
Price / SF$345
Days on Market21
Property Features for 499 Hegeman Avenue
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$3,326
Amenities
refinished original hardwood floors
brand-new hardwood floors
fully finished basement
brand-new boiler system
Building Details
Building Size
3,000 SF
Year Built
1899
Units
2
Listing Agency:
Reyes & Elsamad R E Group
(212) 235-2776
Listed By:
Jacob Poore
(718) 795-2505
Source:
Croninreale
Added: Oct 6
Changed: Oct 25
Last Checked: Oct 26 at 3:53AM
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 Reyes & Elsamad R E Group
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Investment Insights
Based on property information with market context.
Built in 1899, this 3,000-square-foot multifamily property has hardwood flooring on both upper levels. The first-floor floors have been refinished, while the second-floor flooring is new. A finished basement adds additional interior space, and a newly installed boiler serves the building’s heating system.
Located at 499 Hegeman Avenue in Brooklyn, the property combines its original construction date with recent interior and mechanical updates.
Located at 499 Hegeman Avenue in Brooklyn, the property combines its original construction date with recent interior and mechanical updates.
Key Highlights
- 3,000‑square‑foot multifamily property
- Finished basement adds usable interior space
- Refinished original hardwood flooring on the first floor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$91,587
Cap Rate
8.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,831,740
$1.8M
Cap Rate 7%
$1,308,386
$1.3M
Cap Rate 9%
$1,017,633
$1.0M
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$169.9K $56.64/SF
− Vacancy
−$3.4K −$1.13/SF
EGI
$166.5K $55.51/SF
− OpEx
−$74.9K −$24.98/SF
NOI
$91.6K $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 Rate 5%
$1,831,740
Cap Rate 7%
$1,308,386
Cap Rate 9%
$1,017,633
Alternative Uses
Best Use
Apartment 5plus
$1.31M
$1.14M – $1.53M
NOI $91,587 @ 7.0% cap · market cap 8.85%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.48M
$2.17M – $2.90M
NOI $173,880 @ 7.0% cap · market cap 16.80%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Location Intelligence
Trade Area within ½ mile
2,050
Businesses Nearby
Explore this area
Business Placement
Demographics for 11207, NY
100,330
Population
38,030
Households
2.6
Avg Household Size
35
Median Age
19%
College-Educated
81%
High-School Grad
2.7 sq mi
ZIP Area
37,159
Density / Sq Mi
$55,419
Median Household Income
$41,008
Median Earnings
$1,443
Median Rent
$657,400
Median Home Value
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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?
Multifamily property - A renovated two-level interior and completed basement provide added usable space in this Brooklyn multifamily property.
Where is this multifamily property located?
The property is located at 499 Hegeman Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,035,000.
What are key features of this property?
This property features: 3,000‑square‑foot multifamily property; Finished basement adds usable interior space; Refinished original hardwood flooring on the first floor
