Brick Duplex With Two-Car
For Sale
$1,879,000
6659 Colonial Road, Brooklyn, NY 11220
Residential, Brooklyn, NY
Property Size2,160 SF
Lot Size0.05 Acres
Price / SF$869.91
Days on Market134
Property Features for 6659 Colonial Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3-2
Bedrooms
7
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bedroom 7, Bathroom 1, Bedroom 4, Bathroom 2, Bedroom 5, Bathroom 3, Bedroom 3, Bedroom 2, Bedroom 6
Parking features
Garage
Interior features
Laundry Area, Refrigerator, Stove
Basement
Finished
Subdivision
Bay Ridge
Standard status
Active
Size
2,160 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
9985
Building Details
Year built
1930
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Tile
Building materials
Brick
Roof type
Flat
Listing Agency:
BRP Associates Inc
(718) 713-6888
Listed By:
Jean Paul Ho · License #JPH8888
(718) 875-8899
Added: Apr 26
Changed: Sep 5
Last Checked: Sep 6 at 7:06AM
MLS# 500882
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 1930 brick duplex contains 2,160 square feet and is arranged as 3-bedroom over 3-bedroom residences. The main floor includes a living room, formal dining room, and eat-in kitchen, while oversized windows, parquet floors, hardwood, tile, classic moldings, and high ceilings define the interior. A finished basement adds a full bathroom, laundry area, windows, and separate entrances. The property also includes a refrigerator, stove, flat roof, and a built-in two-car garage.
The building measures 18.33 feet by 60 feet on a 23.75-foot by 100-foot lot and is zoned R3-2. The home overlooks Owl's Head Park and has waterfront views toward the Atlantic Ocean and the NYC skyline in winter. Its location provides access to the Belt Parkway, shopping, dining, transportation options, and Manhattan.
The building measures 18.33 feet by 60 feet on a 23.75-foot by 100-foot lot and is zoned R3-2. The home overlooks Owl's Head Park and has waterfront views toward the Atlantic Ocean and the NYC skyline in winter. Its location provides access to the Belt Parkway, shopping, dining, transportation options, and Manhattan.
Key Highlights
- Fully vacant 1930 brick duplex with 2,160 square feet
- 3‑bedroom over 3‑bedroom configuration
- Finished basement with full bathroom, laundry area, windows, and separate entrances
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
$64,313
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
3.42%
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%
$1,286,260
$1.3M
Cap Rate 7%
$918,757
$918.8K
Cap Rate 9%
$714,589
$714.6K
Market Conditions
NOI Build-Up for 2,160 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
$95.9K $44.40/SF
− Vacancy
−$4.0K −$1.86/SF
EGI
$91.9K $42.54/SF
− OpEx
−$27.6K −$12.76/SF
NOI
$64.3K $29.77/SF
Area
ZIP 11220
Vacancy
4.20%
Lease Rate
$44.40 /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%
$1,286,260
Cap Rate 7%
$918,757
Cap Rate 9%
$714,589
Alternative Uses
Best Use
Multifamily LT 5
$918.8K
$803.9K – $1.07M
NOI $64,313 @ 7.0% cap · market cap 3.42%
Second Best
Apartment 5plus
$822.9K
$720.0K – $960.0K
NOI $57,600 @ 7.0% cap · market cap 3.07%
Theoretical Best
Office A
$1.40M
$1.23M – $1.63M
NOI $98,019 @ 7.0% cap · market cap 5.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,396
Businesses Nearby
Explore this area
Business Placement
Demographics for 11220, NY
105,797
Population
30,897
Households
3.4
Avg Household Size
35
Median Age
25%
College-Educated
62%
High-School Grad
1.7 sq mi
ZIP Area
62,234
Density / Sq Mi
$64,201
Median Household Income
$31,489
Median Earnings
$1,688
Median Rent
$1,021,200
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 - Fully vacant brick residence with finished basement, separate entrances, and two-zone heating.
Where is this duplex located?
The property is located at 6659 Colonial Road Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,879,000.
What are key features of this property?
This property features: Fully vacant 1930 brick duplex with 2,160 square feet; 3‑bedroom over 3‑bedroom configuration; Finished basement with full bathroom, laundry area, windows, and separate entrances
