New Retail Condo with Indoor
For Sale
$988,000
268 Bay Ridge Ave S2, Brooklyn, NY 11220
2015-built retail condo currently used as a bakery, with indoor parking options available near supermarkets on Bay Ridge Avenue.
Property Size2,292 SF
Price / SF$431.06
Days on Market49
Property Features for 268 Bay Ridge Ave S2
General Information
Standard status
Active
Size
2,292 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$7,938
Building Details
Building Size
2,292 SF
Year Built
2015
Stories
3
Listing Agency:
RE/MAX Real Estate Professiona
(718) 532-2000
Listed By:
Siu Kit Wong · License #SW6470
(718) 532-2000
Source:
Elliman
Added: Jul 5
Changed: Aug 14
Last Checked: Aug 21 at 7:14AM
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 RE/MAX Real Estate Professiona
Investment Insights
Based on property information with market context.
Built in 2015, this new and large commercial condo offers an estimated 2,292 square feet of retail space. The unit is currently used as a bakery, providing a turnkey setup for food-related operations or an adaptable footprint for other business users. Indoor parking spaces are available for an additional cost, supporting customer and staff access.
The property is located on Bay Ridge Avenue and is described as being next to supermarkets. It is also noted as being close to 3rd Avenue, within a dense commercial area featuring many retail and service uses, including bakeries, restaurants, banks, bars, and pharmacy stores.
With its street-level retail condo configuration and existing bakery use, the space may fit established operators looking for an in-place food concept or owners seeking a flexible storefront for a range of commercial uses. The walk, bike, and transit positioning is supported by provided mobility scores of 96 (Walkers’ Paradise), 81 (Very Bikeable), and 91 (Rider’s Paradise), which can be helpful for businesses that benefit from frequent neighborhood foot traffic and public transit access.
The property is located on Bay Ridge Avenue and is described as being next to supermarkets. It is also noted as being close to 3rd Avenue, within a dense commercial area featuring many retail and service uses, including bakeries, restaurants, banks, bars, and pharmacy stores.
With its street-level retail condo configuration and existing bakery use, the space may fit established operators looking for an in-place food concept or owners seeking a flexible storefront for a range of commercial uses. The walk, bike, and transit positioning is supported by provided mobility scores of 96 (Walkers’ Paradise), 81 (Very Bikeable), and 91 (Rider’s Paradise), which can be helpful for businesses that benefit from frequent neighborhood foot traffic and public transit access.
Key Highlights
- 2015‑built large commercial condo estimated at 2,292 SF, currently used as a bakery
- Indoor parking spaces available on‑site, with additional spaces available for an extra cost
- Located next to supermarkets on Bay Ridge Ave
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
$60,512
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
6.12%
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%
$1,210,240
$1.2M
Cap Rate 7%
$864,457
$864.5K
Cap Rate 9%
$672,356
$672.4K
Market Conditions
NOI Build-Up for 2,292 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
$96.3K $42.00/SF
− Vacancy
−$9.8K −$4.28/SF
EGI
$86.4K $37.72/SF
− OpEx
−$25.9K −$11.31/SF
NOI
$60.5K $26.40/SF
Area
ZIP 11220
Vacancy
10.20%
Lease Rate
$42.00 /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%
$1,210,240
Cap Rate 7%
$864,457
Cap Rate 9%
$672,356
Alternative Uses
Best Use
Retail
$864.5K
$756.4K – $1.01M
NOI $60,512 @ 7.0% cap · market cap 6.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.49M
$1.30M – $1.73M
NOI $104,009 @ 7.0% cap · market cap 10.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,238
Businesses Nearby
147k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 60%
Groceries 20%
Dining 19%
Home Improvements & Furnishings 1%
BP
Shops & Services
17,603 visits/mo
0.3 miles
7-Eleven
Shops & Services
17,278 visits/mo
0.3 miles
SuperFresh
Groceries
16,616 visits/mo
0.1 miles
Starbucks
Dining
15,586 visits/mo
0.3 miles
Chase Bank
Shops & Services
13,325 visits/mo
0.4 miles
Demographics for 11220, NY
105,797
Population
30,897
Households
3.4
Avg Household Size
35
Median Age
25%
College-Educated
62%
High-School Grad
1.7 sq mi
ZIP Area
62,234
Density / Sq Mi
$64,201
Median Household Income
$31,489
Median Earnings
$1,688
Median Rent
$1,021,200
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- 2 corazones flower shop — 514 77th St, Brooklyn, NY 11209
- Parkway Flower Shop — 6916 fort hamilton pkwy, brooklyn, ny 11228
- House Of Green — 7118 Fort Hamilton Pkwy, Brooklyn, NY 11228
- Outdoor Plants NYC — 7811 3rd Ave #763, Brooklyn, NY 11209
- Enchanted Florist — 7515 5th Ave, Brooklyn, NY 11209
Frequently Asked Questions
What type of property is this?
Storefront property - 2015-built retail condo currently used as a bakery, with indoor parking options available near supermarkets on Bay Ridge Avenue.
Where is this storefront property located?
The property is located at 268 Bay Ridge Ave S2 Brooklyn, NY.
What is the asking price?
The asking price for this property is $988,000.
What are key features of this property?
This property features: 2015‑built large commercial condo estimated at 2,292 SF, currently used as a bakery; Indoor parking spaces available on‑site, with additional spaces available for an extra cost; Located next to supermarkets on Bay Ridge Ave
