Vacant Four-Unit Brick
For Sale
$2,917,000
8423 14th Avenue, Brooklyn, NY 11228
MULTI_FAMILY - Brooklyn, NY
Property Size3,120 SF
Lot Size0.05 Acres
Price / SF$934.94
Days on Market49
Property Features for 8423 14th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4
Bedrooms
7
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 5, Bathroom 1, Bedroom 3, Bedroom 7, Bathroom 3, Bedroom 2, Bedroom 4, Bathroom 4, Bathroom 2, Bedroom 6, Bedroom 1
Parking features
Carport
Basement
Full
Subdivision
Bensonhurst
Standard status
Active
Size
3,120 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
15749
Building Details
Year built
1927
Floors in Building
2
Flooring type
Concrete
Building materials
Brick
Roof type
Flat
Listing Agency:
Annmarie Imbriale
(718) 491-6350
Listed By:
Annmarie Imbriale · License #472066
(718) 491-6350
Added: Jul 13
Changed: Aug 6
Last Checked: Aug 30 at 11:06PM
MLS# 502987
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 brick quadplex contains four separate apartments totaling 3,120 square feet. Each unit is scheduled for vacant delivery, providing flexibility for a purchaser planning occupancy or leasing. The property also includes a full basement, which will be delivered vacant, along with a new roof and skylight. One private gated off-street parking space is available. Built in 1927, the building sits on a 0.0471-acre lot and carries R4 zoning.
The property is located at 8423 14th Avenue in Brooklyn’s Dyker Heights neighborhood. Nearby context identified for the property includes subway and bus service, restaurants, cafes, local shops, and public and private schools. The asset’s four-unit configuration, vacant delivery, basement, and parking component provide a clear physical profile for residential income use.
The property is located at 8423 14th Avenue in Brooklyn’s Dyker Heights neighborhood. Nearby context identified for the property includes subway and bus service, restaurants, cafes, local shops, and public and private schools. The asset’s four-unit configuration, vacant delivery, basement, and parking component provide a clear physical profile for residential income use.
Key Highlights
- Four separate apartments delivered vacant
- 3,120 square feet across four units
- Full basement also delivered vacant
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
$109,268
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
3.75%
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%
$2,185,360
$2.2M
Cap Rate 7%
$1,560,971
$1.6M
Cap Rate 9%
$1,214,089
$1.2M
Market Conditions
NOI Build-Up for 3,120 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
$159.1K $51.00/SF
− Vacancy
−$3.0K −$0.97/SF
EGI
$156.1K $50.03/SF
− OpEx
−$46.8K −$15.01/SF
NOI
$109.3K $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%
$2,185,360
Cap Rate 7%
$1,560,971
Cap Rate 9%
$1,214,089
Alternative Uses
Best Use
Multifamily LT 5
$1.56M
$1.37M – $1.82M
NOI $109,268 @ 7.0% cap · market cap 3.75%
Second Best
Apartment 5plus
$1.36M
$1.19M – $1.59M
NOI $95,250 @ 7.0% cap · market cap 3.27%
Theoretical Best
Specialty Retail
$2.58M
$2.26M – $3.01M
NOI $180,835 @ 7.0% cap · market cap 6.20%
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
2,755
Businesses Nearby
Explore this area
Business Placement
Demographics for 11228, NY
45,906
Population
16,336
Households
2.8
Avg Household Size
41
Median Age
37%
College-Educated
80%
High-School Grad
1.5 sq mi
ZIP Area
30,604
Density / Sq Mi
$80,737
Median Household Income
$47,062
Median Earnings
$1,828
Median Rent
$1,131,700
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 - R4-zoned property with a full basement and one private gated off-street parking space.
Where is this quadplex located?
The property is located at 8423 14th Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,917,000.
What are key features of this property?
This property features: Four separate apartments delivered vacant; 3,120 square feet across four units; Full basement also delivered vacant
