Bay Ridge Two-Family
For Sale
$960,000
409 92nd Street, Brooklyn, NY 11209
Two-family home in Bay Ridge with C8-2 zoning.
Property Size1,760 SF
Lot Size0.03 Acres
Price / SF$545.45
Days on Market870
Property Features for 409 92nd Street
General Information
Standard status
Active
Size
1,760 SF
Lot size
0.03 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$6,588
Listing Agency:
Ben Bay Realty Co of Bay Ridge
Listed By:
Charles A. Fabbella
(718) 238-6080
Source:
Exitrealty
Added: Jun 1, 2024
Changed: Sep 1
Last Checked: Sep 15 at 6:36AM
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 Ben Bay Realty Co of Bay Ridge
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This two-family home is located in the Bay Ridge neighborhood. The property has C8-2 zoning. The lot measures 20 x 75 feet, while the building itself measures 20 x 40 feet. The property benefits from very low taxes. The building includes a finished basement. The first floor and basement will be vacant at closing.
Key Highlights
- Prime Bay Ridge location.
- C8‑2 Zoning offers potential for commercial use/development.
- Vacant 1st floor and basement at closing.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,638
Cap Rate
6.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,232,760
$1.2M
Cap Rate 7%
$880,543
$880.5K
Cap Rate 9%
$684,867
$684.9K
Market Conditions
NOI Build-Up for 1,760 SF
Gross rent
$89.8K $51.00/SF
− Vacancy
−$1.7K −$0.97/SF
EGI
$88.1K $50.03/SF
− OpEx
−$26.4K −$15.01/SF
NOI
$61.6K $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 Rate 5%
$1,232,760
Cap Rate 7%
$880,543
Cap Rate 9%
$684,867
Alternative Uses
Best Use
Multifamily LT 5
$880.5K
$770.5K – $1.03M
NOI $61,638 @ 7.0% cap · market cap 6.42%
Second Best
Apartment 5plus
$767.6K
$671.6K – $895.5K
NOI $53,731 @ 7.0% cap · market cap 5.60%
Theoretical Best
Specialty Retail
$1.46M
$1.28M – $1.70M
NOI $102,010 @ 7.0% cap · market cap 10.63%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
3,668
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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two-family home in Bay Ridge with C8-2 zoning.
Where is this duplex located?
The property is located at 409 92nd Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $960,000.
What are key features of this property?
This property features: Prime Bay Ridge location.; C8‑2 Zoning offers potential for commercial use/development.; Vacant 1st floor and basement at closing.
