18th Avenue Corner Condo
For Sale
$1,049,000
1762 Benson Ave, Brooklyn, NY 11214
Duplex community facility condo in a busy Brooklyn location.
Property Size2,500 SF
Price / SF$406.59
Days on Market122
Property Features for 1762 Benson Ave
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Commercial
Building Details
Building Size
2,500 SF
Listing Agency:
Weichert Realtors The Franzese
(718) 232-1004
Listed By:
Vincent Blandino · License #BLANT5781
(718) 232-1004
Source:
Elliman
Added: Apr 24
Changed: Aug 16
Last Checked: Aug 22 at 12:19PM
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 Weichert Realtors The Franzese
Investment Insights
Based on property information with market context.
This duplex community facility condo, constructed in 2008, offers approximately 2,580 square feet of space. The property features offices on the first floor with handicap access, as well as elevator access to the finished office space on the lower level. It has been consistently utilized as office space since its construction. The location is situated approximately 50 feet from the corner of 18th Avenue, across from a large cultural center, in a busy, densely populated area of Brooklyn. The property has a walk score of 96, indicating it is a walker's paradise, and a transit score of 81, indicating excellent transit options. The bike score is 54, indicating it is bikeable. There is one indoor parking spot available for separate purchase.
Key Highlights
- Excellent Transit (Transit Score: 81)
- Walker's Paradise (Walk Score: 96)
- Duplex Community Facility Condo (approx. 2,580 sq. ft.)**
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
$71,030
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
6.77%
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%
$1,420,600
$1.4M
Cap Rate 7%
$1,014,714
$1.0M
Cap Rate 9%
$789,222
$789.2K
Market Conditions
NOI Build-Up for 2,580 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
$117.6K $45.60/SF
− Vacancy
−$22.9K −$8.89/SF
EGI
$94.7K $36.71/SF
− OpEx
−$23.7K −$9.18/SF
NOI
$71.0K $27.53/SF
Area
ZIP 11214
Vacancy
19.50%
Lease Rate
$45.60 /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%
$1,420,600
Cap Rate 7%
$1,014,714
Cap Rate 9%
$789,222
Alternative Uses
Best Use
Office B
$1.01M
$887.9K – $1.18M
NOI $71,030 @ 7.0% cap · market cap 6.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.51M
$1.32M – $1.76M
NOI $105,353 @ 7.0% cap · market cap 10.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,490
Businesses Nearby
Explore this area
Business Placement
Demographics for 11214, NY
96,560
Population
33,341
Households
2.9
Avg Household Size
39
Median Age
32%
College-Educated
76%
High-School Grad
2.0 sq mi
ZIP Area
48,280
Density / Sq Mi
$64,286
Median Household Income
$41,172
Median Earnings
$1,710
Median Rent
$1,007,400
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 - Duplex community facility condo in a busy Brooklyn location.
Where is this office units located?
The property is located at 1762 Benson Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,049,000.
What are key features of this property?
This property features: Excellent Transit (Transit Score: 81); Walker's Paradise (Walk Score: 96); Duplex Community Facility Condo (approx. 2,580 sq. ft.)**
