Corner Brick
For Sale
$1,820,000
8839 16th Avenue, Brooklyn, NY 11214
Three-family residence with flexible unit mix, private garage, driveway parking, and side-yard space.
Property Size2,820 SF
Days on Market127
Property Features for 8839 16th Avenue
General Information
Standard status
Active
Size
2,820 SF
Property subtype
Residential Income
Zoning
R4
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 2BR, 1 x studio
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$9,835
Amenities
garage
Building Details
Building Size
2,820 SF
Year Built
1950
Buildings
1
Stories
3
Units
1
Construction
brick
Listing Agency:
Ashford Homes LLC
(646) 595-8688
Listed By:
Christina T. Liang · License #CTL8850
(646) 595-8688
Source:
Joannecostarealty
Added: Apr 27
Changed: Aug 28
Last Checked: Aug 29 at 10:22AM
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 Ashford Homes LLC
Investment Insights
Based on property information with market context.
Built in 1950, this semi-detached brick triplex contains two two-bedroom units and one studio. The property includes updated kitchens and bathrooms, bright interiors supported by extra windows, a private garage, driveway parking, and a side yard. Its corner position provides additional exposure and separation from neighboring homes.
The residence is located at 8839 16th Avenue in Brooklyn, near public transportation, an express bus to Manhattan, schools, shops, and parks. The property is zoned R4 and will be delivered vacant, allowing the next owner to occupy, lease, or configure the three-family layout according to their plans.
The residence is located at 8839 16th Avenue in Brooklyn, near public transportation, an express bus to Manhattan, schools, shops, and parks. The property is zoned R4 and will be delivered vacant, allowing the next owner to occupy, lease, or configure the three-family layout according to their plans.
Key Highlights
- Three‑family layout with two 2‑bedroom units and 1 studio
- Semi‑detached corner brick home built in 1950
- Updated kitchens and bathrooms across the residence
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
$76,915
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
4.23%
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%
$1,538,300
$1.5M
Cap Rate 7%
$1,098,786
$1.1M
Cap Rate 9%
$854,611
$854.6K
Market Conditions
NOI Build-Up for 2,820 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
$115.1K $40.80/SF
− Vacancy
−$5.2K −$1.84/SF
EGI
$109.9K $38.96/SF
− OpEx
−$33.0K −$11.69/SF
NOI
$76.9K $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%
$1,538,300
Cap Rate 7%
$1,098,786
Cap Rate 9%
$854,611
Alternative Uses
Best Use
Multifamily LT 5
$1.10M
$961.4K – $1.28M
NOI $76,915 @ 7.0% cap · market cap 4.23%
Second Best
Apartment 5plus
$984.8K
$861.7K – $1.15M
NOI $68,933 @ 7.0% cap · market cap 3.79%
Theoretical Best
Office A
$1.65M
$1.44M – $1.92M
NOI $115,153 @ 7.0% cap · market cap 6.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Paved road access
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?
Triplex - Three-family residence with flexible unit mix, private garage, driveway parking, and side-yard space.
Where is this triplex located?
The property is located at 8839 16th Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,820,000.
What are key features of this property?
This property features: Three‑family layout with two 2‑bedroom units and 1 studio; Semi‑detached corner brick home built in 1950; Updated kitchens and bathrooms across the residence
