Triplex with Private
New
For Sale
$1,250,000
7219 Avenue N, Brooklyn, NY 11234
Three residential units offer varied bedroom layouts, a built-in garage, and a dedicated driveway.
Property Size3,432 SF
Days on Market3
Property Features for 7219 Avenue N
General Information
Standard status
Active
Size
3,432 SF
Property subtype
Multi Family
Additional Details
Public Transit
Yes
Multifamily Units
7
Building Details
Building Size
3,432 SF
Year Built
1970
Stories
3
Listing Agency:
Bergen Basin Realty
Listed By:
Michael J. Trotta
(718) 763-4110
Source:
Elliman
Added: Sep 15
Last Checked: Sep 16 at 6:41PM
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 Bergen Basin Realty
Investment Insights
Based on property information with market context.
This triplex, built in 1970, contains three residential units with bedroom configurations of three bedrooms, three bedrooms, and one bedroom. The property includes a private driveway and built-in garage, providing dedicated on-site access and parking-related utility for the occupants.
The surrounding area offers access to local transportation, shopping, playgrounds, parks, and schools. Recorded mobility scores include a Walk Score of 93, a Transit Score of 79, and a Bike Score of 58, reflecting strong pedestrian access, transit availability, and bikeability.
The surrounding area offers access to local transportation, shopping, playgrounds, parks, and schools. Recorded mobility scores include a Walk Score of 93, a Transit Score of 79, and a Bike Score of 58, reflecting strong pedestrian access, transit availability, and bikeability.
Key Highlights
- Three‑unit property with a 3‑bedroom, 3‑bedroom, and 1‑bedroom configuration
- Built in 1970
- Private driveway
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
$104,775
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
8.38%
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%
$2,095,500
$2.1M
Cap Rate 7%
$1,496,786
$1.5M
Cap Rate 9%
$1,164,167
$1.2M
Market Conditions
NOI Build-Up for 3,432 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
$194.4K $56.64/SF
− Vacancy
−$3.9K −$1.13/SF
EGI
$190.5K $55.51/SF
− OpEx
−$85.7K −$24.98/SF
NOI
$104.8K $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%
$2,095,500
Cap Rate 7%
$1,496,786
Cap Rate 9%
$1,164,167
Alternative Uses
Best Use
Multifamily LT 5
$1.72M
$1.50M – $2.00M
NOI $120,194 @ 7.0% cap · market cap 9.62%
Second Best
Apartment 5plus
$1.50M
$1.31M – $1.75M
NOI $104,775 @ 7.0% cap · market cap 8.38%
Theoretical Best
Specialty Retail
$2.84M
$2.49M – $3.32M
NOI $198,919 @ 7.0% cap · market cap 15.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
1,239
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three residential units offer varied bedroom layouts, a built-in garage, and a dedicated driveway.
Where is this triplex located?
The property is located at 7219 Avenue N Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Three‑unit property with a 3‑bedroom, 3‑bedroom, and 1‑bedroom configuration; Built in 1970; Private driveway
