Detached Mixed-Use
New
For Sale
$950,000
9024 Glenwood Road, Brooklyn, NY 11236
Two separate buildings combine residential apartments, a commercial storefront, finished basement space, and private parking on one deed.
Property Size1,600 SF
Price / SF$593.75
Days on Market6
Property Features for 9024 Glenwood Road
General Information
Standard status
Active
Size
1,600 SF
Property subtype
Multi-Family
Building Details
Year Built
1910
Buildings
2
Construction
brick
Listing Agency:
Brooklyn Real Property, Inc
Listed By:
Jean Paul Ho · License #jph8888
(718) 713-6888
Source:
Movetonewjersey
Added: Sep 22
Changed: Sep 24
Last Checked: Sep 24 at 7:20AM
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 Brooklyn Real Property, Inc
Investment Insights
Based on property information with market context.
This mixed-use property includes a fully detached brick two-family residence and a separate one-story commercial storefront on one deed. The residential building contains approximately 1,600 square feet across two five-room apartments of approximately 800 square feet each, with modern kitchens, updated bathrooms, natural light, and a finished basement of approximately 800 square feet. Built in 1910, the residence provides two distinct apartment layouts within a well-maintained configuration.
The detached storefront measures approximately 450 square feet and includes a half bathroom, high ceilings, ample windows, and corner exposure. A private parking area and driveway are positioned behind the commercial building. The property carries multiple addresses, including 9024 and 9026 Glenwood Road and 2 and 6 Durland Place, in the Canarsie area of Brooklyn, near shopping, restaurants, buses, schools, and neighborhood amenities.
The detached storefront measures approximately 450 square feet and includes a half bathroom, high ceilings, ample windows, and corner exposure. A private parking area and driveway are positioned behind the commercial building. The property carries multiple addresses, including 9024 and 9026 Glenwood Road and 2 and 6 Durland Place, in the Canarsie area of Brooklyn, near shopping, restaurants, buses, schools, and neighborhood amenities.
Key Highlights
- Two‑family residence and separate detached commercial storefront on one deed
- Residential building contains approximately 1,600 square feet with two approximately 800‑square‑foot apartments
- Full finished basement of approximately 800 square feet
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
$76,727
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
8.08%
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%
$1,534,540
$1.5M
Cap Rate 7%
$1,096,100
$1.1M
Cap Rate 9%
$852,522
$852.5K
Market Conditions
NOI Build-Up for 1,600 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
$124.4K $77.76/SF
− Vacancy
−$14.8K −$9.25/SF
EGI
$109.6K $68.51/SF
− OpEx
−$32.9K −$20.55/SF
NOI
$76.7K $47.95/SF
Area
Brooklyn, NY
Vacancy
11.90%
Lease Rate
$77.76 /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%
$1,534,540
Cap Rate 7%
$1,096,100
Cap Rate 9%
$852,522
Alternative Uses
Best Use
Retail
$1.10M
$959.1K – $1.28M
NOI $76,727 @ 7.0% cap · market cap 8.08%
Second Best
Mixed Use
$829.7K
$726.0K – $968.0K
NOI $58,080 @ 7.0% cap · market cap 6.11%
Theoretical Best
Specialty Retail
$1.32M
$1.16M – $1.55M
NOI $92,736 @ 7.0% cap · market cap 9.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,494
Businesses Nearby
Explore this area
Business Placement
Demographics for 11236, NY
100,687
Population
37,002
Households
2.7
Avg Household Size
40
Median Age
28%
College-Educated
88%
High-School Grad
3.6 sq mi
ZIP Area
27,969
Density / Sq Mi
$82,813
Median Household Income
$50,244
Median Earnings
$1,637
Median Rent
$710,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two separate buildings combine residential apartments, a commercial storefront, finished basement space, and private parking on one deed.
Where is this mixed-use property located?
The property is located at 9024 Glenwood Road Brooklyn, NY.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Two‑family residence and separate detached commercial storefront on one deed; Residential building contains approximately 1,600 square feet with two approximately 800‑square‑foot apartments; Full finished basement of approximately 800 square feet
