Gut-Renovated Brick
For Sale
$1,799,000
320 Bay Ridge Pkwy, Brooklyn, NY 11209
Three-story residence with finished basement, separate building systems, and an oversized rear deck.
Property Size2,592 SF
Days on Market8
Property Features for 320 Bay Ridge Pkwy
General Information
Standard status
Active
Size
2,592 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$8,744
Building Details
Building Size
2,592 SF
Year Built
1910
Stories
3
Listing Agency:
Womcore LLC dba Remax Edge
Listed By:
Jason Zhou · License #JZ1320
(718) 612-3088
Source:
Elliman
Added: Sep 18
Changed: Sep 19
Last Checked: Sep 24 at 11:59AM
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 Womcore LLC dba Remax Edge
Investment Insights
Based on property information with market context.
This brick duplex combines three stories of living space with a full finished basement. The residence contains 9 bedrooms and 7 full bathrooms, including three primary suites with private baths. The floor plan places 3 bedrooms and 2 bathrooms on each of the top, second, and ground floors, while the basement adds 2 bonus rooms and another full bathroom. A gut renovation introduced modern finishes throughout the property.
Individual split heating and cooling units serve every room from the top floor through the basement. Separate hot water and heating and cooling systems support the two-family configuration, while a hydronic heating system provides an additional heating source. An oversized rear deck expands the usable outdoor area.
The property is at 320 Bay Ridge Pkwy in Brooklyn’s Bay Ridge neighborhood, near shopping, restaurants, schools, parks, and public transportation. The location has a 97 Walk Score, 86 Transit Score, and 82 Bike Score.
Individual split heating and cooling units serve every room from the top floor through the basement. Separate hot water and heating and cooling systems support the two-family configuration, while a hydronic heating system provides an additional heating source. An oversized rear deck expands the usable outdoor area.
The property is at 320 Bay Ridge Pkwy in Brooklyn’s Bay Ridge neighborhood, near shopping, restaurants, schools, parks, and public transportation. The location has a 97 Walk Score, 86 Transit Score, and 82 Bike Score.
Key Highlights
- 9 bedrooms and 7 full bathrooms across the three‑story residence
- Full finished basement with 2 bonus rooms and a full bathroom
- 3 primary suites, each with a private full bathroom
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
$90,776
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
5.05%
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%
$1,815,520
$1.8M
Cap Rate 7%
$1,296,800
$1.3M
Cap Rate 9%
$1,008,622
$1.0M
Market Conditions
NOI Build-Up for 2,592 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
$132.2K $51.00/SF
− Vacancy
−$2.5K −$0.97/SF
EGI
$129.7K $50.03/SF
− OpEx
−$38.9K −$15.01/SF
NOI
$90.8K $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%
$1,815,520
Cap Rate 7%
$1,296,800
Cap Rate 9%
$1,008,622
Alternative Uses
Best Use
Multifamily LT 5
$1.30M
$1.13M – $1.51M
NOI $90,776 @ 7.0% cap · market cap 5.05%
Second Best
Apartment 5plus
$1.13M
$989.1K – $1.32M
NOI $79,131 @ 7.0% cap · market cap 4.40%
Theoretical Best
Specialty Retail
$2.15M
$1.88M – $2.50M
NOI $150,232 @ 7.0% cap · market cap 8.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,510
Businesses Nearby
Explore this area
Business Placement
Demographics for 11209, NY
73,239
Population
33,286
Households
2.2
Avg Household Size
40
Median Age
53%
College-Educated
90%
High-School Grad
2.1 sq mi
ZIP Area
34,876
Density / Sq Mi
$92,656
Median Household Income
$62,455
Median Earnings
$1,857
Median Rent
$905,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Three-story residence with finished basement, separate building systems, and an oversized rear deck.
Where is this duplex located?
The property is located at 320 Bay Ridge Pkwy Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,799,000.
What are key features of this property?
This property features: 9 bedrooms and 7 full bathrooms across the three‑story residence; Full finished basement with 2 bonus rooms and a full bathroom; 3 primary suites, each with a private full bathroom
