Six-Unit Brick Apartment
For Sale
$1,900,000
757 Miller Avenue, Brooklyn, NY 11207
Built in 1930, this six-unit brick building offers a mix of two-, one-, and three-bedroom apartments.
Property Size4,920 SF
Days on Market243
Property Features for 757 Miller Avenue
General Information
Standard status
Active
Size
4,920 SF
Property subtype
Commercial
Zoning
R6
Additional Details
Cap Rate
4.55%
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$14,708
Building Details
Building Size
4,920 SF
Year Built
1930
Units
6
Construction
brick
Listing Agency:
Coldwell Banker American Homes
(516) 365-5780
Listed By:
Maged H. Bestourous · License #949571
(800) 270-6318
Source:
Professionalchoicerealty
Added: Jan 9
Changed: Sep 8
Last Checked: Sep 8 at 6:42AM
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 Coldwell Banker American Homes
Investment Insights
Based on property information with market context.
The Miller Apartments is a well-maintained 6-unit brick apartment building built in 1930. The current unit mix includes three two-bedroom units, two one-bedroom units, and one three-bedroom unit.
The property is located at 757 Miller Ave in Brooklyn, NY 11207. Public transit access is reflected by a transit score of 100 (Rider’s Paradise), with very walkable and very bikeable scores of 71 and 77, respectively.
The property is located at 757 Miller Ave in Brooklyn, NY 11207. Public transit access is reflected by a transit score of 100 (Rider’s Paradise), with very walkable and very bikeable scores of 71 and 77, respectively.
Key Highlights
- 6‑unit multifamily building built in 1930 (brick construction)
- Unit mix includes 3 two‑bedroom units, 2 one‑bedroom units, and 1 three‑bedroom unit
- Total NOI of $86,500 and reported 4.55% cap rate
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
$150,202
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
7.91%
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%
$3,004,040
$3.0M
Cap Rate 7%
$2,145,743
$2.1M
Cap Rate 9%
$1,668,911
$1.7M
Market Conditions
NOI Build-Up for 4,920 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
$278.7K $56.64/SF
− Vacancy
−$5.6K −$1.13/SF
EGI
$273.1K $55.51/SF
− OpEx
−$122.9K −$24.98/SF
NOI
$150.2K $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%
$3,004,040
Cap Rate 7%
$2,145,743
Cap Rate 9%
$1,668,911
Alternative Uses
Best Use
Apartment 5plus
$2.15M
$1.88M – $2.50M
NOI $150,202 @ 7.0% cap · market cap 7.91%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.07M
$3.56M – $4.75M
NOI $285,163 @ 7.0% cap · market cap 15.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
2,252
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
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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?
Apartment building - Built in 1930, this six-unit brick building offers a mix of two-, one-, and three-bedroom apartments.
Where is this apartment building located?
The property is located at 757 Miller Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 6‑unit multifamily building built in 1930 (brick construction); Unit mix includes 3 two‑bedroom units, 2 one‑bedroom units, and 1 three‑bedroom unit; Total NOI of $86,500 and reported 4.55% cap rate
