Corner Brick Triplex with
For Sale
$1,820,000
8839 16th Avenue, Brooklyn, NY 11214
Residential, Brooklyn, NY
Property Size2,820 SF
Lot Size0.03 Acres
Price / SF$645.39
Days on Market127
Property Features for 8839 16th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 3, Bathroom 2
Interior features
A/C Unit
Subdivision
Bath Beach
Standard status
Active
Size
2,820 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
9835
Building Details
Floors in Building
3
Number of units
3
Flooring type
Hardwood
Building materials
Brick
Roof type
Flat
Listing Agency:
Ashford Homes LLC
(929) 364-1301
Listed By:
Christina T. Liang · License #CTL8850
(929) 364-1301
Added: Apr 27
Changed: Aug 21
Last Checked: Aug 31 at 9:06AM
MLS# 500887
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 semi-detached brick multifamily property contains three residential units: two two-bedroom apartments and one studio. The 2,820-square-foot building has updated kitchens and bathrooms, hardwood flooring, A/C units, and a flat roof. A private garage, driveway parking, and side yard provide additional on-site utility. The corner configuration brings extra windows and natural light to the residence.
The property is located near public transportation, an express bus to Manhattan, schools, shops, and parks. It will be delivered vacant, allowing the next owner to occupy the building, lease the units, or use the property for multigenerational living, as supported by the three-unit layout.
The property is located near public transportation, an express bus to Manhattan, schools, shops, and parks. It will be delivered vacant, allowing the next owner to occupy the building, lease the units, or use the property for multigenerational living, as supported by the three-unit layout.
Key Highlights
- 2,820 SF semi‑detached brick triplex
- Two 2‑bedroom units plus one studio
- Private garage, driveway parking, and side yard
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
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 residential units include two two-bedroom layouts and a studio, with updated kitchens and bathrooms throughout.
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: 2,820 SF semi‑detached brick triplex; Two 2‑bedroom units plus one studio; Private garage, driveway parking, and side yard
