Duplex Office Condo with Two
For Sale
$679,000
1a-6911 Shore Rd, Brooklyn, NY 11220
Own a duplex first-floor commercial condo featuring two bathrooms, ample storage, and low common charges.
Property Size1,496 SF
Price / SF$453.88
Days on Market825
Property Features for 1a-6911 Shore Rd
General Information
Standard status
Active
Size
1,496 SF
Taxes and HOA fees
Annual Taxes
$9,507
Listing Agency:
Ben Bay Realty Co of Bay Ridge
Listed By:
Charles A. Fabbella
(718) 238-6080
Source:
Exprealty
Added: Jun 5, 2024
Changed: Sep 4
Last Checked: Sep 6 at 10:41AM
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 Ben Bay Realty Co of Bay Ridge
Investment Insights
Based on property information with market context.
This unique commercial condo is configured as an approximately 1,500-square-foot duplex first-floor unit designed for professional retail office use. The layout includes two bathrooms, built-in style counters, and extensive storage and closet space.
The unit is located at 1A-6911 Shore Rd in Brooklyn. It sits across from Shore Road Park and near the 69th Street Pier and the 69th Street Ferry.
Ownership includes low common charges of $896.94 per month and low property taxes of $9,506.78 per year, based on the information provided. If you are looking to replace recurring rent with ownership, this condo offers a turn-key office-ready configuration in a waterfront-adjacent setting.
The unit is located at 1A-6911 Shore Rd in Brooklyn. It sits across from Shore Road Park and near the 69th Street Pier and the 69th Street Ferry.
Ownership includes low common charges of $896.94 per month and low property taxes of $9,506.78 per year, based on the information provided. If you are looking to replace recurring rent with ownership, this condo offers a turn-key office-ready configuration in a waterfront-adjacent setting.
Key Highlights
- Approximately 1,500 SF duplex first‑floor commercial condo, suited for a professional retail office
- Two bathrooms, with built‑in storage and closet space
- Low common charges: $896.94/month
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
$44,674
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
6.58%
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%
$893,480
$893.5K
Cap Rate 7%
$638,200
$638.2K
Cap Rate 9%
$496,378
$496.4K
Market Conditions
NOI Build-Up for 1,496 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
$75.4K $50.40/SF
− Vacancy
−$15.8K −$10.58/SF
EGI
$59.6K $39.82/SF
− OpEx
−$14.9K −$9.95/SF
NOI
$44.7K $29.86/SF
Area
ZIP 11220
Vacancy
21.00%
Lease Rate
$50.40 /SF/Yr
Expense Ratio
25.00%
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%
$893,480
Cap Rate 7%
$638,200
Cap Rate 9%
$496,378
Alternative Uses
Best Use
Office B
$638.2K
$558.4K – $744.6K
NOI $44,674 @ 7.0% cap · market cap 6.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$969.8K
$848.6K – $1.13M
NOI $67,887 @ 7.0% cap · market cap 10.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,341
Businesses Nearby
Explore this area
Business Placement
Demographics for 11220, NY
105,797
Population
30,897
Households
3.4
Avg Household Size
35
Median Age
25%
College-Educated
62%
High-School Grad
1.7 sq mi
ZIP Area
62,234
Density / Sq Mi
$64,201
Median Household Income
$31,489
Median Earnings
$1,688
Median Rent
$1,021,200
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Own a duplex first-floor commercial condo featuring two bathrooms, ample storage, and low common charges.
Where is this office units located?
The property is located at 1a-6911 Shore Rd Brooklyn, NY.
What is the asking price?
The asking price for this property is $679,000.
What are key features of this property?
This property features: Approximately 1,500 SF duplex first‑floor commercial condo, suited for a professional retail office; Two bathrooms, with built‑in storage and closet space; Low common charges: $896.94/month
