Bath Beach Two-Family
For Sale
$1,195,000
Pending
1403 Shore Pkwy, Brooklyn, NY 11214
Two-family home in desirable Bath Beach neighborhood near waterfront.
Property Size1,993 SF
Lot Size0.05 Acres
Days on Market169
Property Features for 1403 Shore Pkwy
General Information
Standard status
Pending
Size
1,993 SF
Lot size
0.05 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$9,395
Building Details
Building Size
1,993 SF
Year Built
1945
Stories
2
Listing Agency:
Womcore LLC dba Remax Edge
(718) 612-3088
Listed By:
Renzhang Danny Dong · License #10401364256
(718) 612-3088
Source:
Elliman
Added: Mar 11
Changed: Aug 13
Last Checked: Aug 25 at 8:07AM
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 Womcore LLC dba Remax Edge
Investment Insights
Based on property information with market context.
Located in the Bath Beach waterfront neighborhood, this attached two-family home presents opportunities for both homeowners and investors. The property contains a one-bedroom apartment on the first floor and a two-bedroom apartment on the second floor, allowing for flexible living arrangements or rental income. The property is situated near the Shore Parkway waterfront and promenade, providing access to waterfront views, ocean breezes, and parks. Transportation options include proximity to the New York City Subway BMT West End Line stations at 20th Avenue and Bay Parkway, facilitating commutes throughout Brooklyn and into Manhattan. The property is also near the shopping, dining, and conveniences along 86th Street. This property combines comfortable living, a waterfront lifestyle, and investment potential in a Brooklyn neighborhood.
Key Highlights
- Two‑family home ideal for end‑users or investors.
- Located in desirable waterfront Bath Beach neighborhood.
- Close proximity to Shore Parkway waterfront and promenade.
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
$54,359
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
4.55%
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%
$1,087,180
$1.1M
Cap Rate 7%
$776,557
$776.6K
Cap Rate 9%
$603,989
$604.0K
Market Conditions
NOI Build-Up for 1,993 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
$81.3K $40.80/SF
− Vacancy
−$3.7K −$1.84/SF
EGI
$77.7K $38.96/SF
− OpEx
−$23.3K −$11.69/SF
NOI
$54.4K $27.27/SF
Area
ZIP 11214
Vacancy
4.50%
Lease Rate
$40.80 /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%
$1,087,180
Cap Rate 7%
$776,557
Cap Rate 9%
$603,989
Alternative Uses
Best Use
Multifamily LT 5
$776.6K
$679.5K – $906.0K
NOI $54,359 @ 7.0% cap · market cap 4.55%
Second Best
Apartment 5plus
$696.0K
$609.0K – $812.0K
NOI $48,718 @ 7.0% cap · market cap 4.08%
Theoretical Best
Office A
$1.16M
$1.02M – $1.36M
NOI $81,383 @ 7.0% cap · market cap 6.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,307
Businesses Nearby
Explore this area
Business Placement
Demographics for 11214, NY
96,560
Population
33,341
Households
2.9
Avg Household Size
39
Median Age
32%
College-Educated
76%
High-School Grad
2.0 sq mi
ZIP Area
48,280
Density / Sq Mi
$64,286
Median Household Income
$41,172
Median Earnings
$1,710
Median Rent
$1,007,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-family home in desirable Bath Beach neighborhood near waterfront.
Where is this duplex located?
The property is located at 1403 Shore Pkwy Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: Two‑family home ideal for end‑users or investors.; Located in desirable waterfront Bath Beach neighborhood.; Close proximity to Shore Parkway waterfront and promenade.
