Brick Duplex with Two-Car
New
For Sale
$1,698,000
172 Bay Ridge Avenue, Brooklyn, NY 11220
Residential, Brooklyn, NY
Property Size3,146 SF
Lot Size0.04 Acres
Price / SF$539.73
Days on Market2
Property Features for 172 Bay Ridge Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3-2
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bathroom 1, Bathroom 2
Interior features
A/C Unit - Window, Refrigerator, Stove
Basement
Finished, Full
Subdivision
Bay Ridge
Standard status
Active
Size
3,146 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
11639
Building Details
Year built
1930
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Ceramic, Laminate
Building materials
Brick
Roof type
Flat
Listing Agency:
Bellmarc
Listed By:
Ali G. Tom · License #AT7155
(718) 768-4500
Added: Sep 30
Changed: Oct 1
Last Checked: Oct 1 at 3:06PM
MLS# 504969
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,146-square-foot brick duplex contains two apartments and a full basement. The first-floor unit has five rooms, two bedrooms and one full bath; the second-floor unit includes six rooms, three bedrooms and two full baths. The basement has a separate front entrance, interior access and street-level access. A built-in two-car garage and community driveway serve the property. Built in 1930, the home has window air conditioning, hardwood, ceramic and laminate flooring, a flat roof, a refrigerator and a stove. The property will be delivered vacant and requires renovation.
Located in Brooklyn’s Bay Ridge area, the property sits between the 3rd Avenue shopping and dining corridor and the Shore Road waterfront. It occupies a 19-by-100-foot lot, with a building footprint measuring 19 by 68 feet. Zoning is R3-2.
Located in Brooklyn’s Bay Ridge area, the property sits between the 3rd Avenue shopping and dining corridor and the Shore Road waterfront. It occupies a 19-by-100-foot lot, with a building footprint measuring 19 by 68 feet. Zoning is R3-2.
Key Highlights
- Two apartments: 5 rooms, 2 bedrooms and 1 full bath downstairs; 6 rooms, 3 bedrooms and 2 full baths upstairs
- 3,146‑square‑foot brick building on a 0.0449‑acre lot
- Full basement with separate front entrance, interior access and street‑level access
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
$93,671
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
5.52%
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%
$1,873,420
$1.9M
Cap Rate 7%
$1,338,157
$1.3M
Cap Rate 9%
$1,040,789
$1.0M
Market Conditions
NOI Build-Up for 3,146 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
$139.7K $44.40/SF
− Vacancy
−$5.9K −$1.86/SF
EGI
$133.8K $42.54/SF
− OpEx
−$40.1K −$12.76/SF
NOI
$93.7K $29.77/SF
Area
ZIP 11220
Vacancy
4.20%
Lease Rate
$44.40 /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%
$1,873,420
Cap Rate 7%
$1,338,157
Cap Rate 9%
$1,040,789
Alternative Uses
Best Use
Multifamily LT 5
$1.34M
$1.17M – $1.56M
NOI $93,671 @ 7.0% cap · market cap 5.52%
Second Best
Apartment 5plus
$1.20M
$1.05M – $1.40M
NOI $83,893 @ 7.0% cap · market cap 4.94%
Theoretical Best
Office A
$2.04M
$1.78M – $2.38M
NOI $142,763 @ 7.0% cap · market cap 8.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,330
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 vacant apartments sit above a full basement with separate front and interior access.
Where is this duplex located?
The property is located at 172 Bay Ridge Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,698,000.
What are key features of this property?
This property features: Two apartments: 5 rooms, 2 bedrooms and 1 full bath downstairs; 6 rooms, 3 bedrooms and 2 full baths upstairs; 3,146‑square‑foot brick building on a 0.0449‑acre lot; Full basement with separate front entrance, interior access and street‑level access
