1-Bedroom Residential Income
For Sale
$250,000
1802 Ocean Parkway D14, Brooklyn, NY 11223
Co-op apartment with distinct living, sleeping, kitchen, and bath areas along Ocean Parkway.
Property Size700 SF
Price / SF$357.14
Days on Market8
Property Features for 1802 Ocean Parkway D14
General Information
Standard status
Active
Size
700 SF
Property subtype
Apartment
Property Condition
Severity
Repairs Needed
Evidence
will require updating
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Building Details
Building Size
700 SF
Year Built
1926
Listing Agency:
Howard Hanna NYC
Listed By:
Steven B Levine
(646) 417-2364
Source:
Howardhannanyc
Added: Sep 1
Changed: Sep 7
Last Checked: Sep 7 at 7:03AM
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 Howard Hanna NYC
Investment Insights
Based on property information with market context.
This 700-square-foot, one-bedroom co-op is arranged with separate living room, bedroom, kitchen, and bathroom areas. Built in 1926, the apartment is offered in its current condition and requires updating, giving the next owner the ability to rework the interior according to personal preferences.
The property is located at 1802 Ocean Parkway in Brooklyn, with access to the parkway’s tree-lined promenade, walking and cycling paths, nearby shopping and restaurants, and public transportation. F, Q, and B subway service, along with buses, are identified among the available transportation options.
The property is located at 1802 Ocean Parkway in Brooklyn, with access to the parkway’s tree-lined promenade, walking and cycling paths, nearby shopping and restaurants, and public transportation. F, Q, and B subway service, along with buses, are identified among the available transportation options.
Key Highlights
- 700‑square‑foot one‑bedroom co‑op
- Separate living room, bedroom, kitchen, and bathroom
- Offered in current condition and requires updating
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
$21,370
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
8.55%
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%
$427,400
$427.4K
Cap Rate 7%
$305,286
$305.3K
Cap Rate 9%
$237,444
$237.4K
Market Conditions
NOI Build-Up for 700 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
$39.6K $56.64/SF
− Vacancy
−$793 −$1.13/SF
EGI
$38.9K $55.51/SF
− OpEx
−$17.5K −$24.98/SF
NOI
$21.4K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /SF/Yr
Expense Ratio
45.00%
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%
$427,400
Cap Rate 7%
$305,286
Cap Rate 9%
$237,444
Alternative Uses
Best Use
Apartment 5plus
$305.3K
$267.1K – $356.2K
NOI $21,370 @ 7.0% cap · market cap 8.55%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$579.6K
$507.2K – $676.2K
NOI $40,572 @ 7.0% cap · market cap 16.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
5,467
Businesses Nearby
Explore this area
Business Placement
Demographics for 11223, NY
83,519
Population
28,857
Households
2.9
Avg Household Size
37
Median Age
34%
College-Educated
78%
High-School Grad
2.1 sq mi
ZIP Area
39,771
Density / Sq Mi
$63,950
Median Household Income
$40,592
Median Earnings
$1,653
Median Rent
$1,063,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Co-op apartment with distinct living, sleeping, kitchen, and bath areas along Ocean Parkway.
Where is this residential income property located?
The property is located at 1802 Ocean Parkway D14 Brooklyn, NY.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 700‑square‑foot one‑bedroom co‑op; Separate living room, bedroom, kitchen, and bathroom; Offered in current condition and requires updating
