Semi-Detached Two-Family
For Sale
$2,095,000
2786 Ocean Ave, Brooklyn, NY 11229
R7A zoned two-family on a shared driveway, offered as-is for investors, builders, and custom redevelopment planning.
Property Size2,640 SF
Lot Size0.07 Acres
Days on Market101
Property Features for 2786 Ocean Ave
General Information
Standard status
Active
Size
2,640 SF
Lot size
0.07 Acres
Property subtype
Multi Family
Zoning
R7A
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$10,422
Building Details
Building Size
2,640 SF
Year Built
1930
Stories
2
Tenancy
Multi
Listing Agency:
Ideal Properties Realty, LLC
Listed By:
Dalia Samouha
(718) 576-2663
Source:
Elliman
Added: Jun 3
Changed: Sep 8
Last Checked: Sep 10 at 10:48AM
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 Ideal Properties Realty, LLC
Investment Insights
Based on property information with market context.
This semi-detached two-family property is presented “as is” and includes an existing structure on a lot measuring 24 by 125, with a shared driveway. It’s being offered in its current condition, making it well-suited for buyers looking to customize, reposition, or pursue new development. The property is located in an R7A zoning district.
The site is described as having strong visibility on a high-traffic corridor and benefits from convenient public transit access. It is near the B3 bus and the New York City Subway Q line, providing connections to Manhattan and other parts of Brooklyn. The property is also described as just moments from Emmons Avenue and Shore Boulevard, with proximity to Sheepshead Bay’s dining, shopping, and waterfront lifestyle.
For investors and developers, the R7A zoning and “as-is” nature of the offering support a range of redevelopment directions, including the possibility of a condominium project subject to architect and city approvals. Prospective tenants are not the focus of this offering, but the asset’s configuration and zoning make it a practical fit for those seeking a versatile platform for future use planning and build strategy.
The site is described as having strong visibility on a high-traffic corridor and benefits from convenient public transit access. It is near the B3 bus and the New York City Subway Q line, providing connections to Manhattan and other parts of Brooklyn. The property is also described as just moments from Emmons Avenue and Shore Boulevard, with proximity to Sheepshead Bay’s dining, shopping, and waterfront lifestyle.
For investors and developers, the R7A zoning and “as-is” nature of the offering support a range of redevelopment directions, including the possibility of a condominium project subject to architect and city approvals. Prospective tenants are not the focus of this offering, but the asset’s configuration and zoning make it a practical fit for those seeking a versatile platform for future use planning and build strategy.
Key Highlights
- 1930‑built semi‑detached 2‑family property on a 24x125 lot, offered as‑is
- R7A zoning district with potential for future redevelopment (including possible condominium project, subject to approvals)
- Shared driveway provides access and serves both sides of the semi‑detached layout
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
$92,457
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
4.41%
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%
$1,849,140
$1.8M
Cap Rate 7%
$1,320,814
$1.3M
Cap Rate 9%
$1,027,300
$1.0M
Market Conditions
NOI Build-Up for 2,640 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
$134.6K $51.00/SF
− Vacancy
−$2.6K −$0.97/SF
EGI
$132.1K $50.03/SF
− OpEx
−$39.6K −$15.01/SF
NOI
$92.5K $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%
$1,849,140
Cap Rate 7%
$1,320,814
Cap Rate 9%
$1,027,300
Alternative Uses
Best Use
Multifamily LT 5
$1.32M
$1.16M – $1.54M
NOI $92,457 @ 7.0% cap · market cap 4.41%
Second Best
Apartment 5plus
$1.15M
$1.01M – $1.34M
NOI $80,596 @ 7.0% cap · market cap 3.85%
Theoretical Best
Specialty Retail
$2.19M
$1.91M – $2.55M
NOI $153,014 @ 7.0% cap · market cap 7.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
5,659
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - R7A zoned two-family on a shared driveway, offered as-is for investors, builders, and custom redevelopment planning.
Where is this duplex located?
The property is located at 2786 Ocean Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,095,000.
What are key features of this property?
This property features: 1930‑built semi‑detached 2‑family property on a 24x125 lot, offered as‑is; R7A zoning district with potential for future redevelopment (including possible condominium project, subject to approvals); Shared driveway provides access and serves both sides of the semi‑detached layout
