Storefront Condo with Garage
For Sale
$988,000
268 Bay Ridge Avenue, Brooklyn, NY 11220
COMMERCIAL - Brooklyn, NY
Property Size2,292 SF
Lot Size0.21 Acres
Price / SF$431.06
Days on Market47
Property Features for 268 Bay Ridge Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C1-4
Parking features
Garage
Subdivision
Bay Ridge
Standard status
Active
Size
2,292 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Annual Amount
7938
Building Details
Year built
2015
Floors in Building
3
Number of units
1
Building materials
Brick
Roof type
Flat
Listing Agency:
RE/MAX Real Estate Professiona
(718) 532-2000
Listed By:
Siu Kit Wong · License #SW6470
(718) 532-2000
Added: Jun 30
Changed: Aug 4
Last Checked: Aug 15 at 9:06PM
MLS# 502683
Copyright © 2026 Brooklyn New York Multiple Listing Service. 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.
This commercial condominium contains 2,292 square feet and was constructed in 2015. The space is currently used as a bakery and features brick construction, a flat roof, and garage parking. C1-4 zoning is in place, supporting its established commercial profile.
The property is located at 268 Bay Ridge Avenue in Brooklyn’s 11220 ZIP code, next to supermarkets and near 3rd Avenue. The surrounding area includes bakeries, restaurants, banks, bars, pharmacies, and other retail businesses, creating a dense commercial setting for the storefront.
The property is located at 268 Bay Ridge Avenue in Brooklyn’s 11220 ZIP code, next to supermarkets and near 3rd Avenue. The surrounding area includes bakeries, restaurants, banks, bars, pharmacies, and other retail businesses, creating a dense commercial setting for the storefront.
Key Highlights
- 2,292‑square‑foot commercial condominium
- C1‑4 zoning
- Constructed in 2015
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.
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Frequently Asked Questions
What type of property is this?
Storefront property - The property offers brick construction, a flat roof, and garage parking.
Where is this storefront property located?
The property is located at 268 Bay Ridge Avenue 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: 2,292‑square‑foot commercial condominium; C1‑4 zoning; Constructed in 2015
