New Construction
For Sale
$2,100,000
939 Brooklyn Ave, Brooklyn, NY 11203
Legal three-family property with a finished cellar and backyard access.
Property Size3,088 SF
Price / SF$680.05
Days on Market39
Property Features for 939 Brooklyn Ave
General Information
Standard status
Active
Size
3,088 SF
Property subtype
Land
Additional Details
Multifamily Units
3
Building Details
Year Built
2022
Listing Agency:
Goldmark Realty Inc
(646) 696-1693
Listed By:
The Ferrara Team · License #47250
(347) 450-0153
Source:
Nyrealestate
Added: Jul 30
Changed: Sep 5
Last Checked: Sep 5 at 7:31AM
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 Goldmark Realty Inc
Investment Insights
Based on property information with market context.
Built in 2022, this triplex is arranged as a legal three-family house with 3,088 square feet of property size. The finished cellar includes exits to the backyard, adding a distinct lower-level feature to the configuration. The property is located at 939 Brooklyn Ave in Brooklyn, NY 11203 and is identified as new construction.
Key Highlights
- Legal three‑family house
- 3,088 square feet of property size
- Finished cellar with exits to the backyard
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
$108,147
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
5.15%
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%
$2,162,940
$2.2M
Cap Rate 7%
$1,544,957
$1.5M
Cap Rate 9%
$1,201,633
$1.2M
Market Conditions
NOI Build-Up for 3,088 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
$157.5K $51.00/SF
− Vacancy
−$3.0K −$0.97/SF
EGI
$154.5K $50.03/SF
− OpEx
−$46.3K −$15.01/SF
NOI
$108.1K $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%
$2,162,940
Cap Rate 7%
$1,544,957
Cap Rate 9%
$1,201,633
Alternative Uses
Best Use
Multifamily LT 5
$1.54M
$1.35M – $1.80M
NOI $108,147 @ 7.0% cap · market cap 5.15%
Second Best
Apartment 5plus
$1.35M
$1.18M – $1.57M
NOI $94,273 @ 7.0% cap · market cap 4.49%
Theoretical Best
Specialty Retail
$2.56M
$2.24M – $2.98M
NOI $178,980 @ 7.0% cap · market cap 8.52%
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
5,258
Businesses Nearby
Explore this area
Business Placement
Demographics for 11203, NY
81,824
Population
33,434
Households
2.4
Avg Household Size
41
Median Age
26%
College-Educated
88%
High-School Grad
2.1 sq mi
ZIP Area
38,964
Density / Sq Mi
$68,028
Median Household Income
$47,302
Median Earnings
$1,566
Median Rent
$677,700
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 - Legal three-family property with a finished cellar and backyard access.
Where is this triplex located?
The property is located at 939 Brooklyn Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Legal three‑family house; 3,088 square feet of property size; Finished cellar with exits to the backyard
