Brick Quadplex with Finished
New
For Sale
$1,150,000
652 Watkins St, Brooklyn, NY 11212
Four-unit brick property with flexible finished lower-level space and access to public transportation, shopping, schools, and hospitals.
Property Size3,280 SF
Days on Market4
Property Features for 652 Watkins St
General Information
Standard status
Active
Size
3,280 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$10,555
Building Details
Building Size
3,280 SF
Listing Agency:
Brooklyn Real Property Inc.
(718) 272-8988
Listed By:
Anita Yeung
(718) 272-8988
Source:
Elliman
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 10 at 5:19AM
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 Brooklyn Real Property Inc.
Investment Insights
Based on property information with market context.
This brick quadplex contains three 2-bedroom apartments and one 1-bedroom apartment, providing a defined mix of residential units within a four-family configuration. The fully finished basement adds additional flexible space for household or property-related needs.
The property is located in Brownsville near public transportation, shopping, schools, and hospitals. WalkScore is 73, BikeScore is 56, and TransitScore is 84, reflecting walkable surroundings, bikeable conditions, and access to transit services.
The property is located in Brownsville near public transportation, shopping, schools, and hospitals. WalkScore is 73, BikeScore is 56, and TransitScore is 84, reflecting walkable surroundings, bikeable conditions, and access to transit services.
Key Highlights
- Brick four‑family property with 3 two‑bedroom apartments and 1 one‑bedroom apartment
- Fully finished basement provides additional flexible space
- Located near public transportation, shopping, schools, and hospitals
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
$100,135
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
8.71%
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%
$2,002,700
$2.0M
Cap Rate 7%
$1,430,500
$1.4M
Cap Rate 9%
$1,112,611
$1.1M
Market Conditions
NOI Build-Up for 3,280 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
$185.8K $56.64/SF
− Vacancy
−$3.7K −$1.13/SF
EGI
$182.1K $55.51/SF
− OpEx
−$81.9K −$24.98/SF
NOI
$100.1K $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%
$2,002,700
Cap Rate 7%
$1,430,500
Cap Rate 9%
$1,112,611
Alternative Uses
Best Use
Multifamily LT 5
$1.64M
$1.44M – $1.91M
NOI $114,871 @ 7.0% cap · market cap 9.99%
Second Best
Apartment 5plus
$1.43M
$1.25M – $1.67M
NOI $100,135 @ 7.0% cap · market cap 8.71%
Theoretical Best
Specialty Retail
$2.72M
$2.38M – $3.17M
NOI $190,109 @ 7.0% cap · market cap 16.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,360
Businesses Nearby
Explore this area
Business Placement
Demographics for 11212, NY
91,574
Population
34,782
Households
2.6
Avg Household Size
36
Median Age
16%
College-Educated
78%
High-School Grad
1.5 sq mi
ZIP Area
61,049
Density / Sq Mi
$40,060
Median Household Income
$32,553
Median Earnings
$1,231
Median Rent
$549,400
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?
Quadplex - Four-unit brick property with flexible finished lower-level space and access to public transportation, shopping, schools, and hospitals.
Where is this quadplex located?
The property is located at 652 Watkins St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Brick four‑family property with 3 two‑bedroom apartments and 1 one‑bedroom apartment; Fully finished basement provides additional flexible space; Located near public transportation, shopping, schools, and hospitals
