Building Details

Building Size 1,938 SF

Year Built 1930

Listing Agency: One Realty Global Corp

Listed By: Xinyi Qian Show Phone

Source: Elliman

Added: Oct 19 Changed: Oct 25 Last Checked: Oct 28 at 8:51AM

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Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$67,872

Cap Rate

4.53%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,357,440 $1.4M

Cap Rate 7%

$969,600 $969.6K

Cap Rate 9%

$754,133 $754.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,938 SF

Gross rent

$98.8K $51.00/SF

− Vacancy

−$1.9K −$0.97/SF

EGI

$97.0K $50.03/SF

− OpEx

−$29.1K −$15.01/SF

NOI

$67.9K $35.02/SF

Area

Brooklyn, NY

Vacancy

1.90%

Lease Rate

$51.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,357,440

Cap Rate 7%

$969,600

Cap Rate 9%

$754,133

Alternative Uses

Best Use

Multifamily LT 5

$969.6K

$848.4K – $1.13M (±1% cap)

NOI $67,872 @ 7.0% cap · market cap 4.53%

Second Best

Apartment 5plus

$845.2K

$739.6K – $986.1K (±1% cap)

NOI $59,165 @ 7.0% cap · market cap 3.95%

Theoretical Best

Specialty Retail

$1.60M

$1.40M – $1.87M (±1% cap)

NOI $112,326 @ 7.0% cap · market cap 7.50%

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

Suggested Use

Top Pick Parking Lot & Garage Real Estate Agency Hotel & Motel Bar & Pub Nursing Home Coworking & Hybrid Office

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

5,026

Businesses Nearby

Explore this area Business Placement

Demographics for 11229, NY

83,669

Population

33,353

Households

2.5

Avg Household Size

40

Median Age

41%

College-Educated

88%

High-School Grad

2.0 sq mi

ZIP Area

41,835

Density / Sq Mi

$72,556

Median Household Income

$52,948

Median Earnings

$1,666

Median Rent

$812,200

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

Where is this duplex located?

The property is located at 2514 Ocean Ave Brooklyn, NY.

What is the asking price?

The asking price for this property is $1,498,000.