Renovated One-Bedroom Income
For Sale
$529,000
7119 Shore Road 3E, Brooklyn, NY 11209
Renovated co-op residence with an efficient floor plan, abundant storage, and access to extensive building amenities.
Property Size900 SF
Price / SF$587.78
Days on Market60
Property Features for 7119 Shore Road 3E
General Information
Standard status
Active
Size
900 SF
Property subtype
Apartment
Additional Details
HOA Fee
$843.48
Public Transit
Yes
Multifamily Units
1
Amenities
elegant lobby
live-in superintendent
Laundry facilities
bike & storage rooms
large, fully equipped gym
Building Details
Building Size
900 SF
Year Built
1931
Listing Agency:
RE Max Edge Group
(718) 612-3088
Listed By:
Marilee Pettet · License #30PE0563860
(718) 612-3088
Source:
Howardhannanyc
Added: Jun 16
Changed: Aug 12
Last Checked: Aug 12 at 6:56AM
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 RE Max Edge Group
Investment Insights
Based on property information with market context.
This renovated one-bedroom co-op at 7119 Shore Road 3E offers approximately 900 square feet with a foyer, oversized living room, king-sized bedroom, and substantial custom closet storage. The eat-in kitchen includes Corian countertops, stainless steel appliances, wood cabinetry, and generous work surfaces. A renovated windowed bathroom, parquet floors, three ceiling fans, and window blinds complete the interior. North- and east-facing exposures provide natural light.
The 1931 building features an elegant lobby, live-in superintendent, laundry facilities, bike and storage rooms, and a fully equipped gym. The property is near the Shore Road Promenade, 69th Street Pier, Narrows Botanical Gardens, bike paths, and waterfront. Nearby transportation includes the NYC Ferry, express buses, and the R train, with cafés, restaurants, and dessert shops in the surrounding area.
The 1931 building features an elegant lobby, live-in superintendent, laundry facilities, bike and storage rooms, and a fully equipped gym. The property is near the Shore Road Promenade, 69th Street Pier, Narrows Botanical Gardens, bike paths, and waterfront. Nearby transportation includes the NYC Ferry, express buses, and the R train, with cafés, restaurants, and dessert shops in the surrounding area.
Key Highlights
- Approximately 900 square feet with one bedroom and a functional foyer‑to‑living‑room layout
- Renovated eat‑in kitchen with Corian countertops, stainless steel appliances, and wood cabinetry
- Windowed bathroom updated with a large tub
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
$27,476
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
5.19%
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%
$549,520
$549.5K
Cap Rate 7%
$392,514
$392.5K
Cap Rate 9%
$305,289
$305.3K
Market Conditions
NOI Build-Up for 900 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
$51.0K $56.64/SF
− Vacancy
−$1.0K −$1.13/SF
EGI
$50.0K $55.51/SF
− OpEx
−$22.5K −$24.98/SF
NOI
$27.5K $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%
$549,520
Cap Rate 7%
$392,514
Cap Rate 9%
$305,289
Alternative Uses
Best Use
Apartment 5plus
$392.5K
$343.5K – $457.9K
NOI $27,476 @ 7.0% cap · market cap 5.19%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$745.2K
$652.1K – $869.4K
NOI $52,164 @ 7.0% cap · market cap 9.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
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 - Renovated co-op residence with an efficient floor plan, abundant storage, and access to extensive building amenities.
Where is this residential income property located?
The property is located at 7119 Shore Road 3E Brooklyn, NY.
What is the asking price?
The asking price for this property is $529,000.
What are key features of this property?
This property features: Approximately 900 square feet with one bedroom and a functional foyer‑to‑living‑room layout; Renovated eat‑in kitchen with Corian countertops, stainless steel appliances, and wood cabinetry; Windowed bathroom updated with a large tub
