Three-Story Three-Unit
For Sale
Contact for pricing
956 Rogers Ave, Brooklyn, NY 11226
Three-story, three-unit building with separately metered apartments.
Property Size2,430 SF
Price / SF$514.40
Days on Market1228
Property Features for 956 Rogers Ave
General Information
Standard status
Active
Size
2,430 SF
Property subtype
Multifamily
Zoning
R6 (2.43)
Building Details
Buildings
1
Stories
3
Units
3
Listing Agency:
Brown Harris Stevens
(212) 396-8244
Listed By:
Kervin Vales · License #109918089
Source:
Crexi
Added: Apr 13, 2023
Changed: Aug 8
Last Checked: Aug 21 at 9:12PM
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 Brown Harris Stevens
Investment Insights
Based on property information with market context.
This is a three-story building containing three units. The first floor features a two-bedroom apartment with access to the backyard and basement. The second floor contains a two-bedroom floor-through apartment. The third floor offers a renovated, vacant two-bedroom floor-through apartment. Each unit includes a full kitchen and full bathroom. The units are individually metered for gas and electric. The meters, along with the gas boiler and water heater, are located in the basement. The property size is 2430 square feet.
Key Highlights
- Three‑unit building, offering potential rental income.
- Renovated third‑floor unit is vacant, ready for immediate occupancy or rental.**
- First‑floor unit includes access to both the backyard and basement.
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
$61,597
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
4.93%
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%
$1,231,940
$1.2M
Cap Rate 7%
$879,957
$880.0K
Cap Rate 9%
$684,411
$684.4K
Market Conditions
NOI Build-Up for 2,430 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
$91.9K $37.80/SF
− Vacancy
−$3.9K −$1.59/SF
EGI
$88.0K $36.21/SF
− OpEx
−$26.4K −$10.86/SF
NOI
$61.6K $25.35/SF
Area
ZIP 11226
Vacancy
4.20%
Lease Rate
$37.80 /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%
$1,231,940
Cap Rate 7%
$879,957
Cap Rate 9%
$684,411
Alternative Uses
Best Use
Multifamily LT 5
$880.0K
$770.0K – $1.03M
NOI $61,597 @ 7.0% cap · market cap 4.93%
Second Best
Apartment 5plus
$813.8K
$712.1K – $949.5K
NOI $56,967 @ 7.0% cap · market cap 4.56%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $84,074 @ 7.0% cap · market cap 6.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,287
Businesses Nearby
Explore this area
Business Placement
Demographics for 11226, NY
101,727
Population
42,618
Households
2.4
Avg Household Size
37
Median Age
36%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
78,252
Density / Sq Mi
$81,084
Median Household Income
$49,892
Median Earnings
$1,751
Median Rent
$866,300
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-story, three-unit building with separately metered apartments.
Where is this triplex located?
The property is located at 956 Rogers Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Three‑unit building, offering potential rental income.; Renovated third‑floor unit is vacant, ready for immediate occupancy or rental.**; First‑floor unit includes access to both the backyard and basement.
