Brooklyn Two-Family Brick Corner
For Sale
$1,095,000
Pending
815 Avenue Z, Brooklyn, NY 11235
Well-maintained two-family property with parking in South Brooklyn.
Property Size2,192 SF
Days on Market99
Property Features for 815 Avenue Z
General Information
Standard status
Pending
Size
2,192 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$10,162
Building Details
Building Size
2,192 SF
Year Built
1955
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: May 20
Changed: Aug 25
Last Checked: Aug 25 at 7:47AM
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.
This is a well-maintained semi-detached brick two-family corner property located in South Brooklyn. The building size is 23x52 and the lot size is 23x100. The property features a private driveway with parking for up to two cars. The first floor contains a 2-bedroom, 1-bath apartment with a functional layout. The second floor features a 3-bedroom, 2-bath apartment with generous living space and abundant natural light. The property is situated on a corner lot, providing excellent sunlight and ventilation. It is conveniently located near shopping, restaurants, schools, parks, and everyday essentials. Public transportation is easily accessible, including the B and Q subway lines and multiple bus routes, facilitating commuting throughout Brooklyn and Manhattan. The property is suitable for end-users, investors, or multi-generational living. The bike score is 63, indicating it is bikeable. The walk score is 96, designating it as a walker's paradise. The transit score is 84, indicating excellent transit options.
Key Highlights
- Excellent Transit Score (84) and proximity to B/Q subway lines and multiple bus routes for easy commuting to Brooklyn and Manhattan.
- Private driveway with parking for up to two cars, a rare and valuable amenity in South Brooklyn.
- Two‑family corner property suitable for end‑users, investors, or multi‑generational living.
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
$76,768
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
7.01%
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%
$1,535,360
$1.5M
Cap Rate 7%
$1,096,686
$1.1M
Cap Rate 9%
$852,978
$853.0K
Market Conditions
NOI Build-Up for 2,192 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
$111.8K $51.00/SF
− Vacancy
−$2.1K −$0.97/SF
EGI
$109.7K $50.03/SF
− OpEx
−$32.9K −$15.01/SF
NOI
$76.8K $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%
$1,535,360
Cap Rate 7%
$1,096,686
Cap Rate 9%
$852,978
Alternative Uses
Best Use
Multifamily LT 5
$1.10M
$959.6K – $1.28M
NOI $76,768 @ 7.0% cap · market cap 7.01%
Second Best
Apartment 5plus
$956.0K
$836.5K – $1.12M
NOI $66,919 @ 7.0% cap · market cap 6.11%
Theoretical Best
Specialty Retail
$1.81M
$1.59M – $2.12M
NOI $127,048 @ 7.0% cap · market cap 11.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,776
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained two-family property with parking in South Brooklyn.
Where is this duplex located?
The property is located at 815 Avenue Z Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,095,000.
What are key features of this property?
This property features: Excellent Transit Score (84) and proximity to B/Q subway lines and multiple bus routes for easy commuting to Brooklyn and Manhattan.; Private driveway with parking for up to two cars, a rare and valuable amenity in South Brooklyn.; Two‑family corner property suitable for end‑users, investors, or multi‑generational living.
