Brick Two-Family
For Sale
Contact for pricing
Pending
18-40 Norman Street, Ridgewood, NY 11385
Vacant two-family brick home with full basement and original period details, suited for renovation or owner-occupancy.
Property Size2,128 SF
Days on Market147
Property Features for 18-40 Norman Street
General Information
Standard status
Pending
Size
2,128 SF
Property subtype
Multifamily
Investment Type
Value Add
Additional Details
Multifamily Units
2
Building Details
Year Built
1910
Buildings
1
Tenancy
Multi
Listing Agency:
Evergreen Realty and Investments
Listed By:
Daniel Barcelowsky · License #NY
(646) 373-7944
Source:
Crexi
Added: May 29
Changed: Oct 14
Last Checked: Oct 20 at 6:35PM
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 Evergreen Realty and Investments
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Investment Insights
Based on property information with market context.
Delivered vacant, this early-1900s Ridgewood two-family brick townhouse presents a restoration-ready interior and strong period presence. The home features bay frontage with original cornice work, an original stained glass entry surround, and preserved decorative woodwork, trim, and period details throughout. Original fireplace mantel, decorative French doors, and original millwork add character, while high ceilings and oversized windows help create excellent natural light. A full basement with separate access supports everyday utility and flexibility. Solid brick construction is complemented by an indicated approximately 2,128 square-foot building size, with an approximately 20 ft by 100 ft lot and approximately 908 square feet of additional buildable area.
Set on a quiet, tree-lined Ridgewood block, the property is described as close to Myrtle Avenue for shopping, dining, and transportation. It is also noted as being near Evergreen Park and Forest Avenue amenities, with convenient access to the M train.
This is a practical fit for buyers and owner-occupants seeking a two-unit arrangement with separate basement access, or for investors planning a renovation and value-added repositioning with historic elements preserved. The asset is not landmark designated, and it is available vacant for immediate contractor planning and restoration work.
Set on a quiet, tree-lined Ridgewood block, the property is described as close to Myrtle Avenue for shopping, dining, and transportation. It is also noted as being near Evergreen Park and Forest Avenue amenities, with convenient access to the M train.
This is a practical fit for buyers and owner-occupants seeking a two-unit arrangement with separate basement access, or for investors planning a renovation and value-added repositioning with historic elements preserved. The asset is not landmark designated, and it is available vacant for immediate contractor planning and restoration work.
Key Highlights
- Vacant two‑family brick townhouse built in 1910, approx. 2,128 SF total building size
- Full basement with separate access
- Historic period details including original stained glass entry surround, original woodwork and decorative trim, and an original fireplace mantel
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,018
Cap Rate
4.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,040,360
$1.0M
Cap Rate 7%
$743,114
$743.1K
Cap Rate 9%
$577,978
$578.0K
Market Conditions
NOI Build-Up for 2,128 SF
Gross rent
$98.3K $46.20/SF
− Vacancy
−$3.7K −$1.76/SF
EGI
$94.6K $44.44/SF
− OpEx
−$42.6K −$20.00/SF
NOI
$52.0K $24.44/SF
Area
Queens County, NY
Vacancy
3.80%
Lease Rate
$46.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,040,360
Cap Rate 7%
$743,114
Cap Rate 9%
$577,978
Alternative Uses
Best Use
Apartment 5plus
$743.1K
$650.2K – $867.0K
NOI $52,018 @ 7.0% cap · market cap 4.33%
Second Best
Multifamily LT 5
$503.2K
$440.3K – $587.0K
NOI $35,222 @ 7.0% cap · market cap 2.94%
Theoretical Best
Office A
$1.57M
$1.37M – $1.83M
NOI $109,815 @ 7.0% cap · market cap 9.15%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,877
Businesses Nearby
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Business Placement
Demographics for 11385, NY
100,883
Population
40,175
Households
2.5
Avg Household Size
36
Median Age
34%
College-Educated
84%
High-School Grad
3.6 sq mi
ZIP Area
28,023
Density / Sq Mi
$87,365
Median Household Income
$47,335
Median Earnings
$1,959
Median Rent
$842,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Vacant two-family brick home with full basement and original period details, suited for renovation or owner-occupancy.
Where is this duplex located?
The property is located at 18-40 Norman Street Ridgewood, NY.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Vacant two‑family brick townhouse built in 1910, approx. 2,128 SF total building size; Full basement with separate access; Historic period details including original stained glass entry surround, original woodwork and decorative trim, and an original fireplace mantel
