Two-Unit Brick
1840 Norman Street, Ridgewood, NY 11385
For Sale
$1,200,000
Delivered vacant, the property retains stained glass, period woodwork, and decorative millwork.
Property Size2,128 SF
Lot Size0.05 Acres
Price / SF$563.91
Days on Market163
Property Features for 1840 Norman Street
General Information
Standard status
Size
Lot size
Property subtype
Additional Details
Public Transit
Multifamily Units
Amenities
fireplace
Building Details
Year Built
Buildings
Stories
Construction
Listing Agency:
EVERGREEN REALTY & INVESTMENTS
Listed By:
Emma Barattini
(646) 838-1378
Source:
Crystinandcorealty
Added: May 29
Changed: Nov 6
Last Checked: Nov 6 at 2:27PM
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 & INVESTMENTS
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1910 brick duplex contains two residential units and approximately 2,128 square feet on a 20-by-100-foot lot. The building is delivered vacant and includes a full basement with separate access. Interior details include stained glass at the entry, original woodwork and trim, French doors, high ceilings, oversized windows, and a preserved fireplace mantel. The property is not landmark designated.
Located on Norman Street in Ridgewood, the property is near Myrtle Avenue shops and dining, Evergreen Park, and Forest Avenue amenities, with access to the M train. The lot is described as having approximately 908 square feet of additional buildable area potential.
Located on Norman Street in Ridgewood, the property is near Myrtle Avenue shops and dining, Evergreen Park, and Forest Avenue amenities, with access to the M train. The lot is described as having approximately 908 square feet of additional buildable area potential.
Key Highlights
- Two residential units; delivered vacant
- Approximately 2,128 SF in a 1910 brick building
- 20 FT x 100 FT lot
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,883
Businesses Nearby
Explore this area
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
$842,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Duplexes in Ridgewood, NY
Properties on Market for Duplexes in Ridgewood
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Delivered vacant, the property retains stained glass, period woodwork, and decorative millwork.
Where is this duplex located?
The property is located at 1840 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: Two residential units; delivered vacant; Approximately 2,128 SF in a 1910 brick building; 20 FT x 100 FT lot
