7-Unit Apartment Building with Elevator
For Sale
$3,500,000
20 OLIVER STREET, Brooklyn, NY 11209
COMMERCIAL - BROOKLYN, NY
Property Size8,175 SF
Price / SF$428.13
Days on Market174
Property Features for 20 OLIVER STREET
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
7
Full bathrooms
7
Rooms
Bathroom 6, Bathroom 7, Bathroom 2, Bathroom 3, Bathroom 1, Bathroom 4, Bathroom 5
Subdivision
Fort Hamilton
Standard status
Active
Size
8,175 SF
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
61425
Utilities
Heating system
Natural Gas
Amenities
balconies
individual climate control
full-feature kitchens
laundry room
Building Details
Roof type
Flat
Listing Agency:
PETSES REALTY CO LLC
Listed By:
Stephen Petses
Added: Mar 1
Changed: Aug 4
Last Checked: Aug 22 at 8:06AM
MLS# 11663329
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Modern seven-story apartment building with direct apartment access through elevator entry, delivering a private, floor-by-floor living setup. The building contains 7 residential apartments total, arranged as 1 one-bedroom and 6 two-bedroom units, with each apartment occupying an entire floor and featuring both front and rear balconies. Residential units control climate individually.
The non-combustible building area measures 8,175 SF. Each unit’s full-feature kitchen includes granite counters, ebony cabinets, high-end refrigerators, stoves, dishwashers, and built-in microwaves. Natural gas is provided for heating, and the roof is flat.
The cellar level includes mechanical rooms, a disposal room, and a laundry room, supporting day-to-day residential operations. The current configuration is presented as a residential rental income opportunity in a highly desirable area, with potential for condominium conversion and individual unit sale.
The non-combustible building area measures 8,175 SF. Each unit’s full-feature kitchen includes granite counters, ebony cabinets, high-end refrigerators, stoves, dishwashers, and built-in microwaves. Natural gas is provided for heating, and the roof is flat.
The cellar level includes mechanical rooms, a disposal room, and a laundry room, supporting day-to-day residential operations. The current configuration is presented as a residential rental income opportunity in a highly desirable area, with potential for condominium conversion and individual unit sale.
Key Highlights
- 7 residential units: 1 one‑bedroom and 6 two‑bedroom apartments
- Direct elevator access to apartments, with each unit occupying an entire floor
- Front and rear balconies for every apartment
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
$249,574
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
7.13%
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%
$4,991,480
$5.0M
Cap Rate 7%
$3,565,343
$3.6M
Cap Rate 9%
$2,773,044
$2.8M
Market Conditions
NOI Build-Up for 8,175 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
$463.0K $56.64/SF
− Vacancy
−$9.3K −$1.13/SF
EGI
$453.8K $55.51/SF
− OpEx
−$204.2K −$24.98/SF
NOI
$249.6K $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%
$4,991,480
Cap Rate 7%
$3,565,343
Cap Rate 9%
$2,773,044
Alternative Uses
Best Use
Apartment 5plus
$3.57M
$3.12M – $4.16M
NOI $249,574 @ 7.0% cap · market cap 7.13%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.77M
$5.92M – $7.90M
NOI $473,823 @ 7.0% cap · market cap 13.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
2,657
Businesses Nearby
Explore this area
Business Placement
Demographics for 11209, NY
73,239
Population
33,286
Households
2.2
Avg Household Size
40
Median Age
53%
College-Educated
90%
High-School Grad
2.1 sq mi
ZIP Area
34,876
Density / Sq Mi
$92,656
Median Household Income
$62,455
Median Earnings
$1,857
Median Rent
$905,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Modern seven-story apartment building with seven residential units, front and rear balconies, and direct elevator access to each floor.
Where is this apartment building located?
The property is located at 20 OLIVER STREET Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 7 residential units: 1 one‑bedroom and 6 two‑bedroom apartments; Direct elevator access to apartments, with each unit occupying an entire floor; Front and rear balconies for every apartment
