Brick Quadplex with Finished
New
For Sale
$1,400,000
700 Pennsylvania Avenue, Brooklyn, NY 11207
MULTI_FAMILY - Brooklyn, NY
Property Size3,116 SF
Lot Size0.06 Acres
Price / SF$449.29
Days on Market3
Property Features for 700 Pennsylvania Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R6
Bedrooms
7
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 7, Bedroom 4, Bedroom 3, Bedroom 1, Bathroom 3, Bedroom 5, Bedroom 6, Bathroom 1, Bathroom 4, Bedroom 2, Bathroom 2
Interior features
Laundry Area, Refrigerator, Stove
Basement
Finished, Full
Subdivision
Brownsville
Standard status
Active
Size
3,116 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
10655
Building Details
Year built
1923
Floors in Building
2
Number of units
4
Flooring type
Hardwood
Building materials
Brick
Roof type
Rubber
Listing Agency:
Robert Defalco Realty Inc
(718) 748-7000
Listed By:
Terri Anne Williams
(718) 748-7000
Added: Aug 10
Changed: Aug 12
Last Checked: Aug 12 at 12:06PM
MLS# 503685
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 quadplex is a 3,116-square-foot brick property built in 1923 and configured with seven bedrooms and four bathrooms. A fully finished basement adds usable interior space, while hardwood flooring, a laundry area, refrigerator, and stove are among the documented improvements. The property also has a rubber roof and sits on a 0.0556-acre lot.
Located at 700 Pennsylvania Avenue in Brooklyn, the property includes a shared driveway with parking for up to 4 cars. Shopping, dining, transportation, and other local amenities are identified in the surrounding area. R6 zoning applies to the property.
Located at 700 Pennsylvania Avenue in Brooklyn, the property includes a shared driveway with parking for up to 4 cars. Shopping, dining, transportation, and other local amenities are identified in the surrounding area. R6 zoning applies to the property.
Key Highlights
- 3,116‑square‑foot quadplex on a 0.0556‑acre lot
- Seven bedrooms and four bathrooms
- Fully finished basement with additional usable space
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
$109,128
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
7.79%
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%
$2,182,560
$2.2M
Cap Rate 7%
$1,558,971
$1.6M
Cap Rate 9%
$1,212,533
$1.2M
Market Conditions
NOI Build-Up for 3,116 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
$158.9K $51.00/SF
− Vacancy
−$3.0K −$0.97/SF
EGI
$155.9K $50.03/SF
− OpEx
−$46.8K −$15.01/SF
NOI
$109.1K $35.02/SF
Area
Brooklyn, NY
Vacancy
1.90%
Lease Rate
$51.00 /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%
$2,182,560
Cap Rate 7%
$1,558,971
Cap Rate 9%
$1,212,533
Alternative Uses
Best Use
Multifamily LT 5
$1.56M
$1.36M – $1.82M
NOI $109,128 @ 7.0% cap · market cap 7.79%
Second Best
Apartment 5plus
$1.36M
$1.19M – $1.59M
NOI $95,128 @ 7.0% cap · market cap 6.79%
Theoretical Best
Specialty Retail
$2.58M
$2.26M – $3.01M
NOI $180,603 @ 7.0% cap · market cap 12.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - R6-zoned brick property with a finished basement, shared driveway parking, and on-site laundry.
Where is this quadplex located?
The property is located at 700 Pennsylvania Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 3,116‑square‑foot quadplex on a 0.0556‑acre lot; Seven bedrooms and four bathrooms; Fully finished basement with additional usable space
