Brick Two-Family
18-40 Norman Street Ridgewood, NY 11385
18-40 Norman Street, Ridgewood, NY, 11385
Contact for pricing
For Sale
Contact for pricing
Pending
Vacant two-family brick home with full basement and original period details, suited for renovation or owner-occupancy.
Property Size2,128 SF
Days on Market55
Property Features for 18-40 Norman Street
General Information
- Standard status
- Pending
- Size
- 2,128 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1910
Listing agency
Evergreen Realty and Investments
Listed by
Daniel Barcelowsky · License #NY
Source
Crexi
Added: May 29 Updated: Jul 10 at 1:53PM Checked: Jul 22 at 12:58PM
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
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
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $98.3k | $46.20 |
| − Vacancy | −$3.7k | −$1.76 |
| EGI | $94.6k | $44.44 |
| − OpEx | −$42.6k | −$20.00 |
| NOI | $52.0k | $24.44 |
2,128 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
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
