Renovated Brick
For Sale
$1,699,999
914 84th Street, Brooklyn, NY 11228
Corner property with an office level, finished basement, and two one-bedroom apartments with separate gas meters.
Property Size2,546 SF
Days on Market10
Property Features for 914 84th Street
General Information
Standard status
Active
Size
2,546 SF
Total Parking Spaces
2
Property subtype
Triplex
Additional Details
Floor
Main Floor
Public Transit
Yes
Office Units
1
Taxes and HOA fees
Annual Taxes
$8,835
Building Details
Building Size
2,546 SF
Year Built
1930
Buildings
1
Construction
brick
Listing Agency:
Robert DeFalco Realty, Inc.
Listed By:
C.Michel Scibetta-Nicolo · License #10301221252
(718) 644-0063
Source:
Wonicarealtors
Added: Aug 26
Changed: Sep 1
Last Checked: Sep 4 at 11:02AM
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 Robert DeFalco Realty, Inc.
Investment Insights
Based on property information with market context.
This 1930 brick triplex combines a renovated interior with a flexible three-level configuration. The main floor is arranged as an open-concept office and connects to a finished basement extending across the full length of the level, with direct driveway access. The upper floor contains two updated one-bedroom apartments, each with a primary bedroom, living area, and eat-in kitchen.
The property includes 3 gas meters and mini-split heating and cooling units in every apartment. A 2-car driveway and corner-lot placement add to the physical layout, while transportation, restaurants, and shopping are located nearby. The property is at 914 84th Street, Brooklyn, NY 11228.
The property includes 3 gas meters and mini-split heating and cooling units in every apartment. A 2-car driveway and corner-lot placement add to the physical layout, while transportation, restaurants, and shopping are located nearby. The property is at 914 84th Street, Brooklyn, NY 11228.
Key Highlights
- 1930 brick triplex at 914 84th Street, Brooklyn, NY 11228
- Main floor configured as an open‑concept office
- Finished basement spans the full length of the main floor
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
$89,165
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
5.25%
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%
$1,783,300
$1.8M
Cap Rate 7%
$1,273,786
$1.3M
Cap Rate 9%
$990,722
$990.7K
Market Conditions
NOI Build-Up for 2,546 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
$129.8K $51.00/SF
− Vacancy
−$2.5K −$0.97/SF
EGI
$127.4K $50.03/SF
− OpEx
−$38.2K −$15.01/SF
NOI
$89.2K $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%
$1,783,300
Cap Rate 7%
$1,273,786
Cap Rate 9%
$990,722
Alternative Uses
Best Use
Multifamily LT 5
$1.27M
$1.11M – $1.49M
NOI $89,165 @ 7.0% cap · market cap 5.25%
Second Best
Apartment 5plus
$1.11M
$971.6K – $1.30M
NOI $77,727 @ 7.0% cap · market cap 4.57%
Theoretical Best
Specialty Retail
$2.11M
$1.84M – $2.46M
NOI $147,566 @ 7.0% cap · market cap 8.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
3,648
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?
Triplex - Corner property with an office level, finished basement, and two one-bedroom apartments with separate gas meters.
Where is this triplex located?
The property is located at 914 84th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,699,999.
What are key features of this property?
This property features: 1930 brick triplex at 914 84th Street, Brooklyn, NY 11228; Main floor configured as an open‑concept office; Finished basement spans the full length of the main floor
