4-Unit Multifamily
For Sale
Contact for pricing
97 North 7th Street, Brooklyn, NY 11249
Four-unit multifamily property built in 1910 with 3,774 SF at 97 North 7th Street.
Property Size3,774 SF
Price / SF$1,191
Days on Market54
Property Features for 97 North 7th Street
General Information
Standard status
Active
Size
3,774 SF
Property subtype
Multifamily
Zoning
R6B
Investment Type
Value Add
Net Operating Income
$166,315
Building Details
Year Built
1910
Buildings
1
Stories
3
Units
4
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Manhattan
Listed By:
Mike Salvatico · License #10301216098
Source:
Crexi
Added: Jul 27
Changed: Sep 7
Last Checked: Sep 16 at 2:19PM
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 Marcus & Millichap - Manhattan
Investment Insights
Based on property information with market context.
This 4-unit multifamily building offers an income-producing residential layout within a total building size of 3,774 SF. The property was built in 1910, providing a historic foundation for a multi-tenant residential setup.
Located at 97 North 7th Street in Brooklyn, NY, the building’s street address supports straightforward neighborhood access for tenants and visitors. Its compact overall footprint can appeal to ownership structures seeking a smaller-scale multifamily asset.
Ideal for buyers looking for a four-unit residential income property, the asset’s configuration and build year offer a clear starting point for evaluating current condition and future tenancy planning.
Located at 97 North 7th Street in Brooklyn, NY, the building’s street address supports straightforward neighborhood access for tenants and visitors. Its compact overall footprint can appeal to ownership structures seeking a smaller-scale multifamily asset.
Ideal for buyers looking for a four-unit residential income property, the asset’s configuration and build year offer a clear starting point for evaluating current condition and future tenancy planning.
Key Highlights
- 4‑unit multifamily building
- Total size: 3,774 SF
- Year built: 1910
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
$132,172
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
2.94%
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%
$2,643,440
$2.6M
Cap Rate 7%
$1,888,171
$1.9M
Cap Rate 9%
$1,468,578
$1.5M
Market Conditions
NOI Build-Up for 3,774 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
$192.5K $51.00/SF
− Vacancy
−$3.7K −$0.97/SF
EGI
$188.8K $50.03/SF
− OpEx
−$56.6K −$15.01/SF
NOI
$132.2K $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%
$2,643,440
Cap Rate 7%
$1,888,171
Cap Rate 9%
$1,468,578
Alternative Uses
Best Use
Multifamily LT 5
$1.89M
$1.65M – $2.20M
NOI $132,172 @ 7.0% cap · market cap 2.94%
Second Best
Apartment 5plus
$1.65M
$1.44M – $1.92M
NOI $115,216 @ 7.0% cap · market cap 2.56%
Theoretical Best
Specialty Retail
$3.12M
$2.73M – $3.65M
NOI $218,741 @ 7.0% cap · market cap 4.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
7,161
Businesses Nearby
Explore this area
Business Placement
Demographics for 11249, NY
42,024
Population
18,958
Households
2.2
Avg Household Size
31
Median Age
59%
College-Educated
89%
High-School Grad
0.7 sq mi
ZIP Area
60,034
Density / Sq Mi
$121,400
Median Household Income
$81,638
Median Earnings
$2,982
Median Rent
$1,326,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit multifamily property built in 1910 with 3,774 SF at 97 North 7th Street.
Where is this quadplex located?
The property is located at 97 North 7th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $4,495,000.
What are key features of this property?
This property features: 4‑unit multifamily building; Total size: 3,774 SF; Year built: 1910
