Renovated Two-Family
For Sale
$1,799,999
320 Bay Ridge Parkway, Brooklyn, NY 11209
Residential, Brooklyn, NY
Property Size2,592 SF
Lot Size0.04 Acres
Price / SF$694.44
Days on Market49
Property Features for 320 Bay Ridge Parkway
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5B
Bathrooms
7
Full bathrooms
7
Rooms
Bathroom 7, Bathroom 4, Bathroom 1, Bathroom 2, Bathroom 6, Bathroom 5, Bathroom 3
Interior features
A/C Unit, A/C Unit - Wall, Dryer, Laundry Area, Refrigerator, Stove, Washer
Basement
Finished
Subdivision
Bay Ridge
Standard status
Active
Size
2,592 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
6831
Building Details
Year built
1910
Floors in Building
3
Number of units
2
Flooring type
Tile, Hardwood
Building materials
Wood Frame
Roof type
Flat
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Yuexin Chen
(718) 612-3088
Added: Jul 13
Changed: Aug 29
Last Checked: Aug 30 at 7:06AM
MLS# 502975
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 renovated two-family duplex contains 2,592 square feet across three above-ground levels and a finished basement with its own entrance. Each residential floor is arranged with three bedrooms and two full bathrooms, while hardwood and tile flooring, wall-mounted A/C units, laundry equipment, a refrigerator, and a stove are included. The wood-frame structure was built in 1910 and has a flat roof.
Separate gas and electric meters support flexible occupancy arrangements. The finished basement provides additional recreational or storage area. The property is located near shopping, restaurants, schools, parks, and public transportation, and will be delivered vacant at closing. R5B zoning applies.
Separate gas and electric meters support flexible occupancy arrangements. The finished basement provides additional recreational or storage area. The property is located near shopping, restaurants, schools, parks, and public transportation, and will be delivered vacant at closing. R5B zoning applies.
Key Highlights
- 2,592‑square‑foot two‑family property with three above‑ground levels and a finished basement
- Each residential floor includes 3 bedrooms and 2 full bathrooms
- Finished basement has a separate entrance for recreation or storage
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
5.04%
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 5.04%
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
Property Profile
Current Use
Lease Details
2
Residential units
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
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 - Vacant residential property with separate gas and electric meters and finished lower-level space.
Where is this duplex located?
The property is located at 320 Bay Ridge Parkway Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,799,999.
What are key features of this property?
This property features: 2,592‑square‑foot two‑family property with three above‑ground levels and a finished basement; Each residential floor includes 3 bedrooms and 2 full bathrooms; Finished basement has a separate entrance for recreation or storage
