Brighton Beach Multifamily
For Sale
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3017 Brighton 5th St, Brooklyn, NY 11235
Multifamily property in Brighton Beach with development potential.
Property Size2,074 SF
Lot Size0.05 Acres
Price / SF$356.80
Days on Market1117
Property Features for 3017 Brighton 5th St
General Information
Standard status
Active
Size
2,074 SF
Class
B
Lot size
0.05 Acres
Property subtype
Multifamily
Zoning
R6
Building Details
Stories
2
Units
14
Listing Agency:
Highcap Group
Listed By:
Anthony Volman · License #NY
Source:
Crexi
Added: Aug 21, 2023
Changed: Aug 28
Last Checked: Sep 9 at 6:19AM
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 Highcap Group
Investment Insights
Based on property information with market context.
Located in Brighton Beach, Brooklyn, this property is suitable for a hotel, dormitory, or single room occupancy (SRO) development. The two-story building includes a basement and has a building size of 6,480 square feet. The property features 14 units, with 11 of the 14 units delivered vacant. The zoning is R6. The property size is 2,074 square feet and is being sold as is.
Key Highlights
- 15% CAP Rate
- 11 of 14 Units Delivered Vacant
- R6 Zoning (HOTEL / DORMITORY/ SRO)
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
$63,317
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
8.56%
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%
$1,266,340
$1.3M
Cap Rate 7%
$904,529
$904.5K
Cap Rate 9%
$703,522
$703.5K
Market Conditions
NOI Build-Up for 2,074 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
$117.5K $56.64/SF
− Vacancy
−$2.3K −$1.13/SF
EGI
$115.1K $55.51/SF
− OpEx
−$51.8K −$24.98/SF
NOI
$63.3K $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 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%
$1,266,340
Cap Rate 7%
$904,529
Cap Rate 9%
$703,522
Alternative Uses
Best Use
Apartment 5plus
$904.5K
$791.5K – $1.06M
NOI $63,317 @ 7.0% cap · market cap 8.56%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.72M
$1.50M – $2.00M
NOI $120,209 @ 7.0% cap · market cap 16.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,872
Businesses Nearby
Explore this area
Business Placement
Demographics for 11235, NY
88,482
Population
37,188
Households
2.4
Avg Household Size
44
Median Age
50%
College-Educated
90%
High-School Grad
2.5 sq mi
ZIP Area
35,393
Density / Sq Mi
$61,689
Median Household Income
$48,898
Median Earnings
$1,649
Median Rent
$723,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Multifamily property in Brighton Beach with development potential.
Where is this multifamily property located?
The property is located at 3017 Brighton 5th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $740,000.
What are key features of this property?
This property features: 15% CAP Rate; 11 of 14 Units Delivered Vacant; R6 Zoning (HOTEL / DORMITORY/ SRO)
