Three-Family Brick
For Sale
$1,998,000
5514 Fort Hamilton Parkway, Brooklyn, NY 11219
MULTI_FAMILY - Brooklyn, NY
Property Size3,036 SF
Lot Size0.06 Acres
Price / SF$658.10
Days on Market98
Property Features for 5514 Fort Hamilton Parkway
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R6
Bedrooms
7
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bedroom 6, Bedroom 1, Bedroom 4, Bedroom 7, Bathroom 3, Bedroom 5, Bathroom 1, Bathroom 2, Bedroom 3
Interior features
Refrigerator, Stove
Subdivision
Boro-Park
Standard status
Active
Size
3,036 SF
Lot size
0.06 Acres
Building Details
Year built
1915
Floors in Building
3
Number of units
3
Flooring type
Hardwood
Building materials
Brick
Roof type
Flat
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Rong Feng Li · License #RFL8266
(718) 612-3088
Added: May 11
Changed: Aug 4
Last Checked: Aug 16 at 3:06PM
MLS# 501326
Copyright © 2026 Brooklyn New York Multiple Listing Service. 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 three-family (triplex) brick residential property is built with a flat roof and features hardwood flooring. The home was built in 1915 and is laid out as a well-maintained multi-unit residence. Interior features include a refrigerator and stove, supporting day-to-day livability across the unit layout.
Set on an extra deep lot with 20 by 117.82 dimensions and a 0.055-acre lot size, the property offers substantial open land. It is zoned R6 residential with a C1-3 commercial overlay, which the remarks describe as allowing mixed residential and commercial usage.
Located at 5514 Fort Hamilton Parkway in Brooklyn (11219), this property is presented as a residential investment opportunity on a corner of builder/developer flexibility and long-term ownership. Total property size is 3,036 square feet, providing a straightforward multi-family configuration for tenants seeking an established Brooklyn residence.
Set on an extra deep lot with 20 by 117.82 dimensions and a 0.055-acre lot size, the property offers substantial open land. It is zoned R6 residential with a C1-3 commercial overlay, which the remarks describe as allowing mixed residential and commercial usage.
Located at 5514 Fort Hamilton Parkway in Brooklyn (11219), this property is presented as a residential investment opportunity on a corner of builder/developer flexibility and long-term ownership. Total property size is 3,036 square feet, providing a straightforward multi-family configuration for tenants seeking an established Brooklyn residence.
Key Highlights
- Brick three‑family (triplex) residential property
- 0.055‑acre lot with 20 x 117.82 lot dimensions
- R6 zoning with C1‑3 commercial overlay for mixed residential + commercial usage
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
$87,677
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
4.39%
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%
$1,753,540
$1.8M
Cap Rate 7%
$1,252,529
$1.3M
Cap Rate 9%
$974,189
$974.2K
Market Conditions
NOI Build-Up for 3,036 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
$131.2K $43.20/SF
− Vacancy
−$5.9K −$1.94/SF
EGI
$125.3K $41.26/SF
− OpEx
−$37.6K −$12.38/SF
NOI
$87.7K $28.88/SF
Area
ZIP 11219
Vacancy
4.50%
Lease Rate
$43.20 /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%
$1,753,540
Cap Rate 7%
$1,252,529
Cap Rate 9%
$974,189
Alternative Uses
Best Use
Multifamily LT 5
$1.25M
$1.10M – $1.46M
NOI $87,677 @ 7.0% cap · market cap 4.39%
Second Best
Apartment 5plus
$1.12M
$983.8K – $1.31M
NOI $78,704 @ 7.0% cap · market cap 3.94%
Theoretical Best
Office A
$1.97M
$1.72M – $2.30M
NOI $137,771 @ 7.0% cap · market cap 6.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
7,819
Businesses Nearby
Explore this area
Business Placement
Demographics for 11219, NY
103,447
Population
27,973
Households
3.7
Avg Household Size
27
Median Age
21%
College-Educated
70%
High-School Grad
1.5 sq mi
ZIP Area
68,965
Density / Sq Mi
$55,685
Median Household Income
$30,647
Median Earnings
$1,678
Median Rent
$1,086,000
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 - Brick three-family triplex in R6 zoning with a C1-3 commercial overlay and a flat roof.
Where is this triplex located?
The property is located at 5514 Fort Hamilton Parkway Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,998,000.
What are key features of this property?
This property features: Brick three‑family (triplex) residential property; 0.055‑acre lot with 20 x 117.82 lot dimensions; R6 zoning with C1‑3 commercial overlay for mixed residential + commercial usage
