Three-Family Brick
For Sale
$2,088,000
8614 Bay 16th Street, Brooklyn, NY 11214
MULTI_FAMILY - Brooklyn, NY
Property Size3,180 SF
Lot Size0.04 Acres
Price / SF$656.60
Days on Market11
Property Features for 8614 Bay 16th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bedrooms
9
Bathrooms
5
Full bathrooms
3
Half bathrooms
3
Rooms
Bedroom 1, Bathroom 4, Bedroom 9, Bedroom 7, Bathroom 2, Bathroom 3, Bedroom 4, Bedroom 5, Bedroom 8, Bathroom 1, Bedroom 2, Bedroom 3, Bedroom 6, Bathroom 5
Parking features
Garage
Interior features
A/C Unit - Wall
Basement
Finished, Full
Subdivision
Bath Beach
Standard status
Active
Size
3,180 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
6111
Building Details
Year built
2002
Floors in Building
3
Number of units
3
Flooring type
Hardwood
Building materials
Brick
Roof type
Flat
Listing Agency:
Momentum Real Estate LLC
(718) 382-0001
Listed By:
Meijuan (Minnie) Lin · License #MJL6058
(718) 382-0001
Added: Aug 2
Changed: Aug 3
Last Checked: Aug 12 at 10:06AM
MLS# 503463
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.
Well-maintained three-family triplex on a brick exterior with a fully finished basement. Each spacious unit is described as offering three bedrooms, with the first-floor unit featuring one full bathroom and the second- and third-floor units featuring 1.5 bathrooms each. Interior finishes include hardwood flooring, and the property has wall A/C units.
A private front driveway provides off-street parking, and the property is also listed with garage parking. Built in 2002, the home sits on a 0.0444-acre lot and contains 3,180 square feet. The property is zoned R5.
The floorplan is presented as a functional layout geared toward comfortable in-unit living, supported by the finished basement and multiple bathroom configurations across the three floors.
A private front driveway provides off-street parking, and the property is also listed with garage parking. Built in 2002, the home sits on a 0.0444-acre lot and contains 3,180 square feet. The property is zoned R5.
The floorplan is presented as a functional layout geared toward comfortable in-unit living, supported by the finished basement and multiple bathroom configurations across the three floors.
Key Highlights
- Three‑family triplex with 3 bedrooms per unit
- First floor has 1 full bathroom; 2nd and 3rd floors have 1.5 bathrooms each
- Fully finished basement
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
$86,734
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
4.15%
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%
$1,734,680
$1.7M
Cap Rate 7%
$1,239,057
$1.2M
Cap Rate 9%
$963,711
$963.7K
Market Conditions
NOI Build-Up for 3,180 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
$129.7K $40.80/SF
− Vacancy
−$5.8K −$1.84/SF
EGI
$123.9K $38.96/SF
− OpEx
−$37.2K −$11.69/SF
NOI
$86.7K $27.27/SF
Area
ZIP 11214
Vacancy
4.50%
Lease Rate
$40.80 /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%
$1,734,680
Cap Rate 7%
$1,239,057
Cap Rate 9%
$963,711
Alternative Uses
Best Use
Multifamily LT 5
$1.24M
$1.08M – $1.45M
NOI $86,734 @ 7.0% cap · market cap 4.15%
Second Best
Apartment 5plus
$1.11M
$971.7K – $1.30M
NOI $77,733 @ 7.0% cap · market cap 3.72%
Theoretical Best
Office A
$1.86M
$1.62M – $2.16M
NOI $129,854 @ 7.0% cap · market cap 6.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,053
Businesses Nearby
Explore this area
Business Placement
Demographics for 11214, NY
96,560
Population
33,341
Households
2.9
Avg Household Size
39
Median Age
32%
College-Educated
76%
High-School Grad
2.0 sq mi
ZIP Area
48,280
Density / Sq Mi
$64,286
Median Household Income
$41,172
Median Earnings
$1,710
Median Rent
$1,007,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Brick three-family home zoned R5 with fully finished basement, private driveway off-street parking, and wall A/C units.
Where is this triplex located?
The property is located at 8614 Bay 16th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,088,000.
What are key features of this property?
This property features: Three‑family triplex with 3 bedrooms per unit; First floor has 1 full bathroom; 2nd and 3rd floors have 1.5 bathrooms each; Fully finished basement
