For Sale
$29,000,000
6020 3Rd Ave, Brooklyn, NY 11220
Completed in 2022, the building combines residential units with street-level commercial space and elevator access.
Property Size57,878 SF
Lot Size0.42 Acres
Price / SF$501.05
Days on Market86
Property Features for 6020 3Rd Ave
General Information
Standard status
Active
Property type
Apartment buildings, Multifamily properties, Residential income properties, Other apartment buildings
Size
57,878 SF
Lot size
0.42 Acres
Building Details
Year Built
2022
Added: Aug 2
Changed: Sep 2
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Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$1,543,412
Cap Rate
5.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$30,868,240
$30.9M
Cap Rate 7%
$22,048,743
$22.0M
Cap Rate 9%
$17,149,022
$17.1M
Market Conditions
NOI Build-Up for 57,878 SF
Gross rent
$2.92M $50.40/SF
− Vacancy
−$110.8K −$1.92/SF
EGI
$2.81M $48.48/SF
− OpEx
−$1.26M −$21.82/SF
NOI
$1.54M $26.67/SF
Area
ZIP 11220
Vacancy
3.80%
Lease Rate
$50.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$30,868,240
Cap Rate 7%
$22,048,743
Cap Rate 9%
$17,149,022
Alternative Uses
Best Use
Apartment 5plus
$22.05M
$19.29M – $25.72M
NOI $1,543,412 @ 7.0% cap · market cap 5.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$37.52M
$32.83M – $43.77M
NOI $2,626,457 @ 7.0% cap · market cap 9.06%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
4,818
Businesses Nearby
Explore this area
Business Placement
Demographics for 11220, NY
105,797
Population
30,897
Households
3.4
Avg Household Size
35
Median Age
25%
College-Educated
62%
High-School Grad
1.7 sq mi
ZIP Area
62,234
Density / Sq Mi
$64,201
Median Household Income
$31,489
Median Earnings
$1,688
Median Rent
$1,021,200
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
Frequently Asked Questions
What type of property is this?
Apartment building - Completed in 2022, the building combines residential units with street-level commercial space and elevator access.
Where is this apartment building located?
The property is located at 6020 3Rd Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $29,000,000.
