Renovated Two-Family
For Sale
$1,799,999
320 Bay Ridge Pkwy, Brooklyn, NY 11209
Renovated two-family home with separate utilities, a finished basement with separate entrance, and three above-ground levels.
Property Size2,592 SF
Days on Market36
Property Features for 320 Bay Ridge Pkwy
General Information
Standard status
Active
Size
2,592 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,831
Building Details
Building Size
2,592 SF
Year Built
1910
Stories
3
Listing Agency:
Womcore LLC dba Remax Edge
(718) 612-3088
Listed By:
Yuexin Chen
(718) 612-3088
Source:
Elliman
Added: Jul 14
Changed: Aug 15
Last Checked: Aug 18 at 10:15AM
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 renovated two-family residence includes three above-ground levels plus a finished basement. Each residential floor is arranged with 3 bedrooms and 2 full bathrooms, and the home is described as featuring bright, spacious interiors with modern finishes. Separate gas and electric meters support flexibility for owner-occupants and investors. The finished basement includes a separate entrance, providing additional recreational or storage space.
The property is located near shopping, restaurants, schools, parks, and public transportation, with walk, bike, and transit scores reported as 96, 81, and 91, respectively. The home is delivered vacant at closing.
The current configuration is designed to support independent living arrangements across the two-family structure, with utility separation and a basement entry that can be used to access the lower level independently.
The property is located near shopping, restaurants, schools, parks, and public transportation, with walk, bike, and transit scores reported as 96, 81, and 91, respectively. The home is delivered vacant at closing.
The current configuration is designed to support independent living arrangements across the two-family structure, with utility separation and a basement entry that can be used to access the lower level independently.
Key Highlights
- Renovated two‑family home with 3 above‑ground levels plus a finished basement
- Each residential floor features 3 bedrooms and 2 full bathrooms
- Separate gas and electric meters for flexible owner‑occupant or investor setup
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
$90,776
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
5.04%
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%
$1,815,520
$1.8M
Cap Rate 7%
$1,296,800
$1.3M
Cap Rate 9%
$1,008,622
$1.0M
Market Conditions
NOI Build-Up for 2,592 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
$132.2K $51.00/SF
− Vacancy
−$2.5K −$0.97/SF
EGI
$129.7K $50.03/SF
− OpEx
−$38.9K −$15.01/SF
NOI
$90.8K $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%
$1,815,520
Cap Rate 7%
$1,296,800
Cap Rate 9%
$1,008,622
Alternative Uses
Best Use
Multifamily LT 5
$1.30M
$1.13M – $1.51M
NOI $90,776 @ 7.0% cap · market cap 5.04%
Second Best
Apartment 5plus
$1.13M
$989.1K – $1.32M
NOI $79,131 @ 7.0% cap · market cap 4.40%
Theoretical Best
Specialty Retail
$2.15M
$1.88M – $2.50M
NOI $150,232 @ 7.0% cap · market cap 8.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4,510
Businesses Nearby
Explore this area
Business Placement
Demographics for 11209, NY
73,239
Population
33,286
Households
2.2
Avg Household Size
40
Median Age
53%
College-Educated
90%
High-School Grad
2.1 sq mi
ZIP Area
34,876
Density / Sq Mi
$92,656
Median Household Income
$62,455
Median Earnings
$1,857
Median Rent
$905,700
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 - Renovated two-family home with separate utilities, a finished basement with separate entrance, and three above-ground levels.
Where is this duplex located?
The property is located at 320 Bay Ridge Pkwy Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,799,999.
What are key features of this property?
This property features: Renovated two‑family home with 3 above‑ground levels plus a finished basement; Each residential floor features 3 bedrooms and 2 full bathrooms; Separate gas and electric meters for flexible owner‑occupant or investor setup
