Brick Two-Family
For Sale
$1,699,000
Pending
8817 16th Ave, Brooklyn, NY 11214
Spacious brick two-family home with private driveway, garage, and outdoor living space for flexible residential income use.
Property Size3,058 SF
Days on Market72
Property Features for 8817 16th Ave
General Information
Standard status
Pending
Size
3,058 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$10,608
Building Details
Building Size
3,058 SF
Year Built
1950
Stories
3
Tenancy
Multi
Listing Agency:
Ben Bay Realty Co
(718) 680-6442
Listed By:
Nicholas Venturini · License #NV3472
(718) 680-6442
Source:
Elliman
Added: Jun 22
Changed: Aug 25
Last Checked: Aug 30 at 11:06PM
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 Ben Bay Realty Co
Investment Insights
Based on property information with market context.
This brick two-family residence offers three levels of living space with hardwood floors and abundant natural light throughout. The first floor includes an eat-in kitchen with granite countertops, an open layout into the dining room, a large living room with direct access to a private backyard, and a full bathroom. The second floor features four bedrooms, a fully tiled bathroom, and a large terrace overlooking the backyard. The third floor provides a separate apartment with an eat-in kitchen, a large living room, two generously sized bedrooms, and a fully tiled bathroom.
The property sits on a 20' x 103' lot and includes a private driveway and garage, supporting convenient off-street parking. Outdoor space is a key feature, with both a large private backyard and a terrace from the upper level.
For buyers seeking a residential income setup, the configuration supports separate living arrangements across the first/second levels and the third-floor apartment. The presence of multiple bedrooms, tiled bathrooms, and outdoor areas can be well-suited to tenants who want distinct layouts with practical space for everyday living.
The property sits on a 20' x 103' lot and includes a private driveway and garage, supporting convenient off-street parking. Outdoor space is a key feature, with both a large private backyard and a terrace from the upper level.
For buyers seeking a residential income setup, the configuration supports separate living arrangements across the first/second levels and the third-floor apartment. The presence of multiple bedrooms, tiled bathrooms, and outdoor areas can be well-suited to tenants who want distinct layouts with practical space for everyday living.
Key Highlights
- Brick two‑family home built in 1950 with private driveway and garage
- 20' x 103' lot with direct access from an oversized living room to a large private backyard
- First floor: 20' x 61' with eat‑in kitchen with granite countertops, dining room, oversized living room, and full bath
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
$83,406
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
4.91%
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%
$1,668,120
$1.7M
Cap Rate 7%
$1,191,514
$1.2M
Cap Rate 9%
$926,733
$926.7K
Market Conditions
NOI Build-Up for 3,058 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
$124.8K $40.80/SF
− Vacancy
−$5.6K −$1.84/SF
EGI
$119.2K $38.96/SF
− OpEx
−$35.7K −$11.69/SF
NOI
$83.4K $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%
$1,668,120
Cap Rate 7%
$1,191,514
Cap Rate 9%
$926,733
Alternative Uses
Best Use
Multifamily LT 5
$1.19M
$1.04M – $1.39M
NOI $83,406 @ 7.0% cap · market cap 4.91%
Second Best
Apartment 5plus
$1.07M
$934.4K – $1.25M
NOI $74,751 @ 7.0% cap · market cap 4.40%
Theoretical Best
Office A
$1.78M
$1.56M – $2.08M
NOI $124,872 @ 7.0% cap · market cap 7.35%
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
1,781
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
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Frequently Asked Questions
What type of property is this?
Duplex - Spacious brick two-family home with private driveway, garage, and outdoor living space for flexible residential income use.
Where is this duplex located?
The property is located at 8817 16th Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,699,000.
What are key features of this property?
This property features: Brick two‑family home built in 1950 with private driveway and garage; 20' x 103' lot with direct access from an oversized living room to a large private backyard; First floor: 20' x 61' with eat‑in kitchen with granite countertops, dining room, oversized living room, and full bath
