Sheepshead Bay Two-Family
For Sale
$549,000
Pending
15A Lake Ave, Brooklyn, NY 11235
Two-family home in Sheepshead Bay, excellent investment opportunity.
Property Size1,152 SF
Lot Size0.04 Acres
Days on Market153
Property Features for 15A Lake Ave
General Information
Standard status
Pending
Size
1,152 SF
Lot size
0.04 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$3,710
Building Details
Building Size
1,152 SF
Year Built
1920
Listing Agency:
Winzone Realty Inc
Listed By:
Iuliana B. Golimaz
(718) 676-6611
Source:
Elliman
Added: Apr 10
Changed: Sep 2
Last Checked: Sep 8 at 5:21AM
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 Winzone Realty Inc
Investment Insights
Based on property information with market context.
Located in the heart of Sheepshead Bay, this well-maintained, fully detached bungalow-style two-family home presents an investment opportunity. Situated on a quiet dead-end street, the property is near Emmons Avenue. The first floor features a 1-bedroom, 1-bath walk-in apartment. The second floor offers a 2-bedroom layout with a full bathroom. Interior features include hardwood floors and storage with built-in shelving and organized closet space. Both units are currently rented with leases in place, making this a strong income-producing property with long-term investment potential. The home is situated on a 24x67 lot with an 18x41 building size. It is conveniently located near shopping, restaurants, and public transportation. Nearby dining and waterfront amenities are available along Emmons Avenue, with Manhattan Beach a short distance away. The property is located in a bikeable area with a score of 61, a very walkable area with a score of 87, and an area with excellent transit with a score of 72.
Key Highlights
- Prime Sheepshead Bay location, moments from Emmons Avenue.
- Detached 2‑family bungalow, offering investment and end‑user potential.
- Strong income‑producing property with existing tenant leases.
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
$25,846
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
4.71%
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%
$516,920
$516.9K
Cap Rate 7%
$369,229
$369.2K
Cap Rate 9%
$287,178
$287.2K
Market Conditions
NOI Build-Up for 738 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
$37.6K $51.00/SF
− Vacancy
−$715 −$0.97/SF
EGI
$36.9K $50.03/SF
− OpEx
−$11.1K −$15.01/SF
NOI
$25.8K $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%
$516,920
Cap Rate 7%
$369,229
Cap Rate 9%
$287,178
Alternative Uses
Best Use
Multifamily LT 5
$369.2K
$323.1K – $430.8K
NOI $25,846 @ 7.0% cap · market cap 4.71%
Second Best
Apartment 5plus
$321.9K
$281.6K – $375.5K
NOI $22,530 @ 7.0% cap · market cap 4.10%
Theoretical Best
Specialty Retail
$611.1K
$534.7K – $712.9K
NOI $42,774 @ 7.0% cap · market cap 7.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,472
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-family home in Sheepshead Bay, excellent investment opportunity.
Where is this duplex located?
The property is located at 15A Lake Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Prime Sheepshead Bay location, moments from Emmons Avenue.; Detached 2‑family bungalow, offering investment and end‑user potential.; Strong income‑producing property with existing tenant leases.
