Residential Income Property with Art Deco
For Sale
$499,000
7119 SHORE Road 2L, Brooklyn, NY 11209
One-bedroom residence with waterfront outlooks, preserved period details, and extensive building amenities in Brooklyn’s Bay Ridge neighborhood.
Property Size850 SF
Price / SF$587.06
Days on Market15
Property Features for 7119 SHORE Road 2L
General Information
Standard status
Active
Size
850 SF
Property subtype
Apartment
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 1BR
Multifamily Units
1
Amenities
fitness center
private storage
bicycle room
laundry room
package delivery lockers
video intercom
decorative fireplace
Building Details
Building Size
850 SF
Year Built
1931
Construction
Art Deco
Listing Agency:
Brown Harris Stevens Residential Sales LLC
Listed By:
Maria F Cangiano
(212) 381-3295
Source:
Carlinwright
Added: Sep 17
Changed: Sep 25
Last Checked: Sep 30 at 6:51PM
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 Brown Harris Stevens Residential Sales LLC
Investment Insights
Based on property information with market context.
This 850-square-foot one-bedroom residence at 7119 Shore Road, 2L, combines a 1931 Art Deco building character with practical modern features. The layout includes a formal entry foyer, living room with a broad window wall, windowed kitchen with stainless steel appliances and dining alcove, windowed bathroom, abundant closets, and 9-foot ceilings. Original elements include Art Deco archways, a decorative fireplace, and bordered oak hardwood floors. A video AI intercom system provides building entry access.
Residents have access to a fitness center, private storage, bicycle room, laundry room, and package delivery lockers. The property is positioned along the Shore Road waterfront in Bay Ridge, with views toward the water and city. The address is near the Shore Road promenade, Owl’s Head Park, the 69th Street Ferry Terminal, neighborhood restaurants, cafés, bakeries, and specialty shops.
Residents have access to a fitness center, private storage, bicycle room, laundry room, and package delivery lockers. The property is positioned along the Shore Road waterfront in Bay Ridge, with views toward the water and city. The address is near the Shore Road promenade, Owl’s Head Park, the 69th Street Ferry Terminal, neighborhood restaurants, cafés, bakeries, and specialty shops.
Key Highlights
- 850‑square‑foot one‑bedroom residence at 7119 Shore Road, 2L
- Waterfront and city views from the residence
- 1931 Art Deco building with preserved archways, decorative fireplace, and bordered oak floors
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
$25,950
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
5.20%
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%
$519,000
$519.0K
Cap Rate 7%
$370,714
$370.7K
Cap Rate 9%
$288,333
$288.3K
Market Conditions
NOI Build-Up for 850 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
$48.1K $56.64/SF
− Vacancy
−$963 −$1.13/SF
EGI
$47.2K $55.51/SF
− OpEx
−$21.2K −$24.98/SF
NOI
$25.9K $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 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%
$519,000
Cap Rate 7%
$370,714
Cap Rate 9%
$288,333
Alternative Uses
Best Use
Apartment 5plus
$370.7K
$324.4K – $432.5K
NOI $25,950 @ 7.0% cap · market cap 5.20%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$703.8K
$615.8K – $821.1K
NOI $49,266 @ 7.0% cap · market cap 9.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,613
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - One-bedroom residence with waterfront outlooks, preserved period details, and extensive building amenities in Brooklyn’s Bay Ridge neighborhood.
Where is this residential income property located?
The property is located at 7119 SHORE Road 2L Brooklyn, NY.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 850‑square‑foot one‑bedroom residence at 7119 Shore Road, 2L; Waterfront and city views from the residence; 1931 Art Deco building with preserved archways, decorative fireplace, and bordered oak floors
