Brick Duplex with Shared
For Sale
$2,095,000
2786 Ocean Avenue, Brooklyn, NY 11229
Residential, Brooklyn, NY
Property Size2,640 SF
Lot Size0.07 Acres
Price / SF$793.56
Days on Market106
Property Features for 2786 Ocean Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R7A
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 2, Bathroom 3
Interior features
A/C Unit - Window
Basement
Finished
Subdivision
Sheepshead Bay
Standard status
Active
Size
2,640 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
10422
Building Details
Year built
1930
Floors in Building
2
Number of units
2
Flooring type
Parquet Wood
Building materials
Brick
Roof type
Shingle
Listing Agency:
Ideal Properties Realty, LLC
(718) 576-2663
Listed By:
Dalia Samouha
(718) 687-7576
Added: May 25
Changed: Sep 7
Last Checked: Sep 7 at 6:06PM
MLS# 501577
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 semi-detached duplex contains two family residences within a 2,640-square-foot brick structure built in 1930. The property sits on a 24x125 lot and includes a shared driveway, window-unit A/C, parquet wood flooring, and a shingle roof. The building is offered as-is, providing an existing residential configuration for customization or repositioning.
Located at 2786 Ocean Avenue in Brooklyn, the property fronts a high-traffic corridor with access to the B3 bus and New York City Subway Q line. Emmons Avenue and Shore Boulevard are nearby, along with waterfront dining, shopping, and lifestyle amenities in the Sheepshead Bay area. R7A zoning supports consideration of future redevelopment, including a potential condominium project subject to architect and city approvals.
Located at 2786 Ocean Avenue in Brooklyn, the property fronts a high-traffic corridor with access to the B3 bus and New York City Subway Q line. Emmons Avenue and Shore Boulevard are nearby, along with waterfront dining, shopping, and lifestyle amenities in the Sheepshead Bay area. R7A zoning supports consideration of future redevelopment, including a potential condominium project subject to architect and city approvals.
Key Highlights
- Two‑family duplex on a 24x125 lot
- 2,640 square feet on 0.0686 acres
- R7A zoning with potential condominium redevelopment subject to approvals
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
Property Profile
Current Use
Lease Details
2
Residential units
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
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 - R7A-zoned two-family property with an as-is structure and access to nearby bus and subway service.
Where is this duplex located?
The property is located at 2786 Ocean Avenue 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: Two‑family duplex on a 24x125 lot; 2,640 square feet on 0.0686 acres; R7A zoning with potential condominium redevelopment subject to approvals
