Vacant Three-Family Brick
New
For Sale
$2,635,000
791A LEXINGTON Avenue, Brooklyn, NY 11221
Modern three-story property with a full basement, gated front yard, and immediate flexibility for occupancy, leasing, or renovation.
Property Size4,800 SF
Lot Size0.05 Acres
Price / SF$548.96
Days on Market5
Property Features for 791A LEXINGTON Avenue
General Information
Standard status
Active
Size
4,800 SF
Lot size
0.05 Acres
Property subtype
Multi Family
Additional Details
Asking Price
$2,635,000
Public Transit
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$14,880
Building Details
Building Size
4,800 SF
Year Built
2004
Buildings
1
Stories
3
Construction
brick and concrete-block
Listing Agency:
Corcoran Group
(646) 523-5711
Listed By:
Anthony L Morris · License #30MO0951810
(646) 523-5711
Source:
Nilelundgren
Added: Aug 27
Changed: Aug 30
Last Checked: Aug 30 at 9:47PM
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 Corcoran Group
Investment Insights
Based on property information with market context.
Built in 2004, this vacant three-family brick townhouse provides approximately 4,800 square feet across three stories and a full basement. The property includes brick and concrete-block construction, a gated front yard, and a 20' x 60' building footprint on a 20' x 100' lot. Its existing configuration supports separate household use, owner occupancy, or leasing, while any condominium conversion would remain subject to professional review and governmental approvals.
The property is located in Bedford-Stuyvesant near restaurants, cafés, parks, boutiques, supermarkets, pharmacies, laundromats, and fitness options. Transit access includes the J subway at Kosciuszko Street, additional J and Z service at Gates Avenue, and nearby B38 and B47 bus routes. Jesse Owens Playground and Saratoga Park are also within the surrounding neighborhood context.
The property is located in Bedford-Stuyvesant near restaurants, cafés, parks, boutiques, supermarkets, pharmacies, laundromats, and fitness options. Transit access includes the J subway at Kosciuszko Street, additional J and Z service at Gates Avenue, and nearby B38 and B47 bus routes. Jesse Owens Playground and Saratoga Park are also within the surrounding neighborhood context.
Key Highlights
- Vacant three‑family townhouse built in 2004
- Approximately 4,800 square feet across three stories plus a full basement
- 20' x 100' lot with a 20' x 60' building footprint
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
$168,104
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
6.38%
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%
$3,362,080
$3.4M
Cap Rate 7%
$2,401,486
$2.4M
Cap Rate 9%
$1,867,822
$1.9M
Market Conditions
NOI Build-Up for 4,800 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
$244.8K $51.00/SF
− Vacancy
−$4.7K −$0.97/SF
EGI
$240.1K $50.03/SF
− OpEx
−$72.0K −$15.01/SF
NOI
$168.1K $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%
$3,362,080
Cap Rate 7%
$2,401,486
Cap Rate 9%
$1,867,822
Alternative Uses
Best Use
Multifamily LT 5
$2.40M
$2.10M – $2.80M
NOI $168,104 @ 7.0% cap · market cap 6.38%
Second Best
Apartment 5plus
$2.09M
$1.83M – $2.44M
NOI $146,539 @ 7.0% cap · market cap 5.56%
Theoretical Best
Specialty Retail
$3.97M
$3.48M – $4.64M
NOI $278,208 @ 7.0% cap · market cap 10.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
4,144
Businesses Nearby
Explore this area
Business Placement
Demographics for 11221, NY
89,222
Population
38,690
Households
2.3
Avg Household Size
33
Median Age
42%
College-Educated
84%
High-School Grad
1.4 sq mi
ZIP Area
63,730
Density / Sq Mi
$85,122
Median Household Income
$49,202
Median Earnings
$2,055
Median Rent
$1,061,400
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?
Triplex - Modern three-story property with a full basement, gated front yard, and immediate flexibility for occupancy, leasing, or renovation.
Where is this triplex located?
The property is located at 791A LEXINGTON Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,635,000.
What are key features of this property?
This property features: Vacant three‑family townhouse built in 2004; Approximately 4,800 square feet across three stories plus a full basement; 20' x 100' lot with a 20' x 60' building footprint
