Multifamily Corner Property in
For Sale
$1,399,000
Pending
6633 Ave. M, Brooklyn, NY 11234
Residential income property in move-in condition near Kings Plaza Mall.
Property Size3,291 SF
Days on Market183
Property Features for 6633 Ave. M
General Information
Standard status
Pending
Size
3,291 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$9,528
Amenities
Yes, No, Driveway
Public Sewer, None, Natural Gas, Electricity Connected, Public, Natural Gas
Natural Gas
Square Feet
No
See Remarks, Yes
1st Floor Bedrm, Public
First Floor Bedroom
1st Fl Master Bedroom
Brick
Driveway
Building Details
Year Built
1970
Listing Agency:
Keller Williams Legendary
Listed By:
Joseph J. Fennelly
(516) 328-8600
Source:
Compass
Added: Mar 11
Changed: Sep 8
Last Checked: Jul 16 at 6:23AM
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 Keller Williams Legendary
Investment Insights
Based on property information with market context.
This multifamily corner property is located on a quiet residential street. The property features multiple apartments in move-in condition. Two apartments include a full bath and a half bath in the master bedroom. The property has a large basement with high ceilings. There is a driveway at the front of the property and a second driveway at the rear. The property is located approximately 5 minutes from Kings Plaza Mall.
Key Highlights
- Move‑in ready condition for all apartments.
- Corner property with two driveways (front and rear).
- Two apartments feature a full bath and a half bath in the master bedroom.
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
$100,471
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
7.18%
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%
$2,009,420
$2.0M
Cap Rate 7%
$1,435,300
$1.4M
Cap Rate 9%
$1,116,344
$1.1M
Market Conditions
NOI Build-Up for 3,291 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
$186.4K $56.64/SF
− Vacancy
−$3.7K −$1.13/SF
EGI
$182.7K $55.51/SF
− OpEx
−$82.2K −$24.98/SF
NOI
$100.5K $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%
$2,009,420
Cap Rate 7%
$1,435,300
Cap Rate 9%
$1,116,344
Alternative Uses
Best Use
Apartment 5plus
$1.44M
$1.26M – $1.67M
NOI $100,471 @ 7.0% cap · market cap 7.18%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.72M
$2.38M – $3.18M
NOI $190,746 @ 7.0% cap · market cap 13.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,510
Businesses Nearby
Explore this area
Business Placement
Demographics for 11234, NY
92,133
Population
35,167
Households
2.6
Avg Household Size
41
Median Age
39%
College-Educated
89%
High-School Grad
7.4 sq mi
ZIP Area
12,450
Density / Sq Mi
$94,434
Median Household Income
$55,206
Median Earnings
$1,771
Median Rent
$746,800
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?
Multifamily property - Residential income property in move-in condition near Kings Plaza Mall.
Where is this multifamily property located?
The property is located at 6633 Ave. M Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,399,000.
What are key features of this property?
This property features: Move‑in ready condition for all apartments.; Corner property with two driveways (front and rear).; Two apartments feature a full bath and a half bath in the master bedroom.
