New Construction
For Sale
$2,350,000
941 Brooklyn Ave, Brooklyn, NY 11203
Three-family residential property with a finished cellar that opens to the backyard.
Property Size3,240 SF
Price / SF$725.31
Days on Market31
Property Features for 941 Brooklyn Ave
General Information
Standard status
Active
Size
3,240 SF
Property subtype
Land
Additional Details
Multifamily Units
3
Building Details
Year Built
2022
Buildings
1
Listing Agency:
Keller Williams Realty Group
(845) 254-2429
Listed By:
Virginia Corbett · License #10401314602
(845) 254-2429
Source:
Virginiacorbetthometeam
Added: Jul 30
Changed: Aug 29
Last Checked: Aug 29 at 6:38PM
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 Keller Williams Realty Group
Investment Insights
Based on property information with market context.
Built in 2022, this three-family house offers 3,240 square feet across a triplex configuration. The property includes a finished cellar with an exit leading to the backyard, adding usable lower-level space and direct outdoor access.
Located at 941 Brooklyn Ave in Brooklyn, NY 11203, the residence presents a recently constructed multifamily format for an owner or residential income property buyer. Its three-family layout and finished lower level provide the defining physical features of the asset.
Located at 941 Brooklyn Ave in Brooklyn, NY 11203, the residence presents a recently constructed multifamily format for an owner or residential income property buyer. Its three-family layout and finished lower level provide the defining physical features of the asset.
Key Highlights
- Three‑family house configured as a triplex
- 3,240 square feet of property size
- Finished cellar with an exit 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
$113,470
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
4.83%
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%
$2,269,400
$2.3M
Cap Rate 7%
$1,621,000
$1.6M
Cap Rate 9%
$1,260,778
$1.3M
Market Conditions
NOI Build-Up for 3,240 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
$165.2K $51.00/SF
− Vacancy
−$3.1K −$0.97/SF
EGI
$162.1K $50.03/SF
− OpEx
−$48.6K −$15.01/SF
NOI
$113.5K $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%
$2,269,400
Cap Rate 7%
$1,621,000
Cap Rate 9%
$1,260,778
Alternative Uses
Best Use
Multifamily LT 5
$1.62M
$1.42M – $1.89M
NOI $113,470 @ 7.0% cap · market cap 4.83%
Second Best
Apartment 5plus
$1.41M
$1.24M – $1.65M
NOI $98,914 @ 7.0% cap · market cap 4.21%
Theoretical Best
Specialty Retail
$2.68M
$2.35M – $3.13M
NOI $187,790 @ 7.0% cap · market cap 7.99%
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 - Three-family residential property with a finished cellar that opens to the backyard.
Where is this triplex located?
The property is located at 941 Brooklyn Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,350,000.
What are key features of this property?
This property features: Three‑family house configured as a triplex; 3,240 square feet of property size; Finished cellar with an exit to the backyard
