Corner Two-Family Brick
For Sale
$2,480,000
802 68th Street, Brooklyn, NY 11220
MULTI_FAMILY - Brooklyn, NY
Property Size2,622 SF
Lot Size0.04 Acres
Price / SF$945.84
Days on Market158
Property Features for 802 68th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5B
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 4, Bathroom 3, Bathroom 1, Bathroom 2, Bathroom 5, Bathroom 6
Interior features
Refrigerator, Stove
Subdivision
Bay Ridge
Standard status
Active
Size
2,622 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
9973
Building Details
Year built
1965
Floors in Building
3
Number of units
2
Flooring type
Tile
Building materials
Brick
Roof type
Flat
Listing Agency:
Tiger Realty
(917) 708-9966
Listed By:
Hang (Tyler) Chen · License #HC3855
(917) 708-9966
Added: Mar 9
Changed: Aug 7
Last Checked: Aug 13 at 10:06AM
MLS# 499436
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 corner two-family brick duplex at 802 68th Street features 3 stories plus a finished basement. The building is sized 20 by 46, situated on a 20 by 95 lot. Construction materials include brick, with tile flooring and a flat roof. Interior features listed include a refrigerator and stove.
The property is located at 8th Avenue and 68th Street and is described as well maintained. It includes 3 private front parking spaces. The surrounding area is noted as minutes from shopping and restaurants, with transportation access via the N train.
Zoned R5B, the home offers a practical residential layout across multiple levels, including a finished basement, with the convenience of dedicated parking at the front.
The property is located at 8th Avenue and 68th Street and is described as well maintained. It includes 3 private front parking spaces. The surrounding area is noted as minutes from shopping and restaurants, with transportation access via the N train.
Zoned R5B, the home offers a practical residential layout across multiple levels, including a finished basement, with the convenience of dedicated parking at the front.
Key Highlights
- Corner two‑family brick duplex with 3 stories plus a finished basement
- Building size 20 by 46 on a 20 by 95 lot
- 3 private front parking spaces
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
$78,069
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
3.15%
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%
$1,561,380
$1.6M
Cap Rate 7%
$1,115,271
$1.1M
Cap Rate 9%
$867,433
$867.4K
Market Conditions
NOI Build-Up for 2,622 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
$116.4K $44.40/SF
− Vacancy
−$4.9K −$1.86/SF
EGI
$111.5K $42.54/SF
− OpEx
−$33.5K −$12.76/SF
NOI
$78.1K $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%
$1,561,380
Cap Rate 7%
$1,115,271
Cap Rate 9%
$867,433
Alternative Uses
Best Use
Multifamily LT 5
$1.12M
$975.9K – $1.30M
NOI $78,069 @ 7.0% cap · market cap 3.15%
Second Best
Apartment 5plus
$998.9K
$874.0K – $1.17M
NOI $69,920 @ 7.0% cap · market cap 2.82%
Theoretical Best
Office A
$1.70M
$1.49M – $1.98M
NOI $118,984 @ 7.0% cap · market cap 4.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
5,837
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 - R5B-zoned corner two-family brick duplex with finished basement and 3 private front parking spaces.
Where is this duplex located?
The property is located at 802 68th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,480,000.
What are key features of this property?
This property features: Corner two‑family brick duplex with 3 stories plus a finished basement; Building size 20 by 46 on a 20 by 95 lot; 3 private front parking spaces
