Multifamily Property with Finished
For Sale
$1,400,000
700 Pennsylvania Avenue, Brooklyn, NY 11207
Finished lower level, shared driveway parking, and access to shopping, dining, transportation, and neighborhood amenities.
Property Size3,116 SF
Price / SF$449.29
Days on Market78
Property Features for 700 Pennsylvania Avenue
General Information
Standard status
Active
Size
3,116 SF
Total Parking Spaces
4
Property subtype
Multi Family
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$10,655
Building Details
Building Size
3,116 SF
Year Built
1923
Listing Agency:
Robert Defalco Realty Inc
Listed By:
Terri Anne Williams
(718) 748-7000
Source:
Penrealty
Added: Aug 10
Changed: Oct 26
Last Checked: Oct 25 at 12:32AM
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 Robert Defalco Realty Inc
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Investment Insights
Based on property information with market context.
This multifamily property includes a fully finished basement that expands the usable interior area and provides additional storage. A shared driveway offers parking for up to 4 cars, adding practical convenience to the property’s configuration.
Located at 700 Pennsylvania Ave in Brooklyn, the property is near shopping, dining, transportation, and other local amenities. WalkScore is 90 and TransitScore is 100, while BikeScore is 73. Built in 1923, the property combines established construction with useful supplemental space and on-site parking.
Located at 700 Pennsylvania Ave in Brooklyn, the property is near shopping, dining, transportation, and other local amenities. WalkScore is 90 and TransitScore is 100, while BikeScore is 73. Built in 1923, the property combines established construction with useful supplemental space and on-site parking.
Key Highlights
- Fully finished basement with additional usable space and storage
- Shared driveway with parking for up to 4 cars
- Located at 700 Pennsylvania Ave, Brooklyn, NY 11207
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$95,128
Cap Rate
6.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,902,560
$1.9M
Cap Rate 7%
$1,358,971
$1.4M
Cap Rate 9%
$1,056,978
$1.1M
Market Conditions
NOI Build-Up for 3,116 SF
Gross rent
$176.5K $56.64/SF
− Vacancy
−$3.5K −$1.13/SF
EGI
$173.0K $55.51/SF
− OpEx
−$77.8K −$24.98/SF
NOI
$95.1K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,902,560
Cap Rate 7%
$1,358,971
Cap Rate 9%
$1,056,978
Alternative Uses
Best Use
Apartment 5plus
$1.36M
$1.19M – $1.59M
NOI $95,128 @ 7.0% cap · market cap 6.79%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.58M
$2.26M – $3.01M
NOI $180,603 @ 7.0% cap · market cap 12.90%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,050
Businesses Nearby
Explore this area
Business Placement
Demographics for 11207, NY
100,330
Population
38,030
Households
2.6
Avg Household Size
35
Median Age
19%
College-Educated
81%
High-School Grad
2.7 sq mi
ZIP Area
37,159
Density / Sq Mi
$55,419
Median Household Income
$41,008
Median Earnings
$1,443
Median Rent
$657,400
Median Home Value
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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?
Multifamily property - Finished lower level, shared driveway parking, and access to shopping, dining, transportation, and neighborhood amenities.
Where is this multifamily property located?
The property is located at 700 Pennsylvania Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Fully finished basement with additional usable space and storage; Shared driveway with parking for up to 4 cars; Located at 700 Pennsylvania Ave, Brooklyn, NY 11207
