Vacant Two-Family
For Sale
$1,625,000
26 Bay 11th St, Brooklyn, NY 11228
Vacant two-family home with two 3-bedroom apartments, plus a garage and shared driveway for off-street parking.
Property Size2,160 SF
Days on Market57
Property Features for 26 Bay 11th St
General Information
Standard status
Active
Size
2,160 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$9,944
Building Details
Building Size
2,160 SF
Year Built
1930
Stories
2
Listing Agency:
Shore Road Realty
Listed By:
Richard Gravante
(718) 236-3800
Source:
Elliman
Added: Jul 14
Changed: Sep 4
Last Checked: Sep 7 at 7:44AM
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 Shore Road Realty
Investment Insights
Based on property information with market context.
Offered for sale as a vacant two-family residence, the property provides two separate apartments, each with three bedrooms. The layout offers flexibility for a range of residential ownership scenarios where having additional living space within the same building is beneficial.
Set in Brooklyn’s Dyker Park area, the home is described as conveniently located near shopping, restaurants, schools, parks, and public transportation. The asset also carries walkability and transit indicators, with a Walk Score of 85 and a Transit Score of 73, along with a Bike Score of 59.
In addition to the two-unit configuration, the property includes a garage and a shared driveway, helping support off-street parking arrangements.
Set in Brooklyn’s Dyker Park area, the home is described as conveniently located near shopping, restaurants, schools, parks, and public transportation. The asset also carries walkability and transit indicators, with a Walk Score of 85 and a Transit Score of 73, along with a Bike Score of 59.
In addition to the two-unit configuration, the property includes a garage and a shared driveway, helping support off-street parking arrangements.
Key Highlights
- Vacant two‑family home built in 1930
- Two 3‑bedroom apartments (each unit offers 3 bedrooms)
- Garage plus shared driveway providing off‑street parking
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
$75,647
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
4.66%
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%
$1,512,940
$1.5M
Cap Rate 7%
$1,080,671
$1.1M
Cap Rate 9%
$840,522
$840.5K
Market Conditions
NOI Build-Up for 2,160 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
$110.2K $51.00/SF
− Vacancy
−$2.1K −$0.97/SF
EGI
$108.1K $50.03/SF
− OpEx
−$32.4K −$15.01/SF
NOI
$75.6K $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 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%
$1,512,940
Cap Rate 7%
$1,080,671
Cap Rate 9%
$840,522
Alternative Uses
Best Use
Multifamily LT 5
$1.08M
$945.6K – $1.26M
NOI $75,647 @ 7.0% cap · market cap 4.66%
Second Best
Apartment 5plus
$942.0K
$824.3K – $1.10M
NOI $65,943 @ 7.0% cap · market cap 4.06%
Theoretical Best
Specialty Retail
$1.79M
$1.56M – $2.09M
NOI $125,194 @ 7.0% cap · market cap 7.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,747
Businesses Nearby
Explore this area
Business Placement
Demographics for 11228, NY
45,906
Population
16,336
Households
2.8
Avg Household Size
41
Median Age
37%
College-Educated
80%
High-School Grad
1.5 sq mi
ZIP Area
30,604
Density / Sq Mi
$80,737
Median Household Income
$47,062
Median Earnings
$1,828
Median Rent
$1,131,700
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?
Duplex - Vacant two-family home with two 3-bedroom apartments, plus a garage and shared driveway for off-street parking.
Where is this duplex located?
The property is located at 26 Bay 11th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,625,000.
What are key features of this property?
This property features: Vacant two‑family home built in 1930; Two 3‑bedroom apartments (each unit offers 3 bedrooms); Garage plus shared driveway providing off‑street parking
