Brick Triplex with Finished
For Sale
$1,599,999
945A Herkimer St, Brooklyn, NY 11233
Three separately metered residences have individual heating and hot water systems, with tenants responsible for their utilities.
Property Size4,285 SF
Days on Market8
Property Features for 945A Herkimer St
General Information
Standard status
Active
Size
4,285 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$8,475
Building Details
Building Size
4,285 SF
Year Built
2004
Units
3
Listing Agency:
Island Advantage Realty, LLC
Listed By:
Kamruz Z. Baccu · License #40BA1029231
(347) 465-3220
Source:
Elliman
Added: Sep 28
Changed: Sep 30
Last Checked: Oct 4 at 10:54AM
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 Island Advantage Realty, LLC
Investment Insights
Based on property information with market context.
Built in 2004, this brick triplex contains three residences, each with three bedrooms and two full bathrooms. A finished basement adds space to the property. Separate heating boilers and hot water tanks serve the units; the building has three gas meters and four electric meters, and each residence pays its own utilities.
The property is one block from the Ralph Avenue subway station, served by the A and C lines. Nearby destinations include a McDonald’s, schools, shops, and places of worship. The stated scores are 92 for walking, 98 for transit, and 67 for biking.
The property is one block from the Ralph Avenue subway station, served by the A and C lines. Nearby destinations include a McDonald’s, schools, shops, and places of worship. The stated scores are 92 for walking, 98 for transit, and 67 for biking.
Key Highlights
- Three residences, each with 3 bedrooms and 2 full bathrooms
- Brick construction; built in 2004
- Finished basement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$130,817
Cap Rate
8.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,616,340
$2.6M
Cap Rate 7%
$1,868,814
$1.9M
Cap Rate 9%
$1,453,522
$1.5M
Market Conditions
NOI Build-Up for 4,285 SF
Gross rent
$242.7K $56.64/SF
− Vacancy
−$4.9K −$1.13/SF
EGI
$237.8K $55.51/SF
− OpEx
−$107.0K −$24.98/SF
NOI
$130.8K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,616,340
Cap Rate 7%
$1,868,814
Cap Rate 9%
$1,453,522
Alternative Uses
Best Use
Multifamily LT 5
$2.14M
$1.88M – $2.50M
NOI $150,068 @ 7.0% cap · market cap 9.38%
Second Best
Apartment 5plus
$1.87M
$1.64M – $2.18M
NOI $130,817 @ 7.0% cap · market cap 8.18%
Theoretical Best
Specialty Retail
$3.55M
$3.10M – $4.14M
NOI $248,359 @ 7.0% cap · market cap 15.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
3,577
Businesses Nearby
Explore this area
Business Placement
Demographics for 11233, NY
75,399
Population
34,412
Households
2.2
Avg Household Size
35
Median Age
33%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
57,999
Density / Sq Mi
$62,034
Median Household Income
$47,149
Median Earnings
$1,613
Median Rent
$1,013,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three separately metered residences have individual heating and hot water systems, with tenants responsible for their utilities.
Where is this triplex located?
The property is located at 945A Herkimer St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,599,999.
What are key features of this property?
This property features: Three residences, each with 3 bedrooms and 2 full bathrooms; Brick construction; built in 2004; Finished basement
