Two-Story Quadplex with
For Sale
$1,950,000
744 39th Street, Brooklyn, NY 11232
Four-family residential property with finished lower-level space and existing tenants.
Property Size2,700 SF
Days on Market216
Property Features for 744 39th Street
General Information
Standard status
Active
Size
2,700 SF
Property subtype
Multi Family Home
Zoning
M1-2
Additional Details
Public Transit
Yes
Multifamily Units
4
Building Details
Building Size
2,700 SF
Year Built
1915
Buildings
1
Stories
2
Listing Agency:
Tiger Realty
(917) 708-9966
Listed By:
Qi Weng
(917) 708-9966
Source:
Excellchoicerealty
Added: Jan 28
Changed: Aug 30
Last Checked: Aug 31 at 5:10PM
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 Tiger Realty
Investment Insights
Based on property information with market context.
This four-family property was built in 1915 and provides two stories of living space along with a finished basement. Existing tenants occupy the building, offering an established residential income configuration.
The property is located at 744 39th St in Brooklyn, near restaurants, supermarkets, shops, and Sunset Park. Public transportation access includes the D line and bus service. The surrounding area records a walk score of 94, a transit score of 78, and a bike score of 69.
The property is located at 744 39th St in Brooklyn, near restaurants, supermarkets, shops, and Sunset Park. Public transportation access includes the D line and bus service. The surrounding area records a walk score of 94, a transit score of 78, and a bike score of 69.
Key Highlights
- Four‑family residential property
- Two stories of living space plus finished basement
- Built in 1915
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
$94,559
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
4.85%
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%
$1,891,180
$1.9M
Cap Rate 7%
$1,350,843
$1.4M
Cap Rate 9%
$1,050,656
$1.1M
Market Conditions
NOI Build-Up for 2,700 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
$137.7K $51.00/SF
− Vacancy
−$2.6K −$0.97/SF
EGI
$135.1K $50.03/SF
− OpEx
−$40.5K −$15.01/SF
NOI
$94.6K $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%
$1,891,180
Cap Rate 7%
$1,350,843
Cap Rate 9%
$1,050,656
Alternative Uses
Best Use
Multifamily LT 5
$1.35M
$1.18M – $1.58M
NOI $94,559 @ 7.0% cap · market cap 4.85%
Second Best
Apartment 5plus
$1.18M
$1.03M – $1.37M
NOI $82,428 @ 7.0% cap · market cap 4.23%
Theoretical Best
Specialty Retail
$2.24M
$1.96M – $2.61M
NOI $156,492 @ 7.0% cap · market cap 8.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
4,864
Businesses Nearby
Explore this area
Business Placement
Demographics for 11232, NY
30,181
Population
10,004
Households
3
Avg Household Size
35
Median Age
36%
College-Educated
69%
High-School Grad
1.2 sq mi
ZIP Area
25,151
Density / Sq Mi
$87,517
Median Household Income
$45,983
Median Earnings
$1,972
Median Rent
$782,500
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-family residential property with finished lower-level space and existing tenants.
Where is this quadplex located?
The property is located at 744 39th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Four‑family residential property; Two stories of living space plus finished basement; Built in 1915
