Detached Mixed-Use Corner
New
For Sale
$950,000
9024 Glenwood Road, Brooklyn, NY 11236
Residential, High Ranch, Brooklyn, NY
Property Size1,600 SF
Lot Size0.04 Acres
Price / SF$593.75
Days on Market7
Property Features for 9024 Glenwood Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4-1
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 2, Bedroom 4, Bedroom 1, Bathroom 3, Bedroom 2, Bedroom 3
Interior features
Laundry Area, Refrigerator, Stove
Basement
Finished
Subdivision
Canarsie
Standard status
Active
Size
1,600 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
6369
Building Details
Year built
1910
Floors in Building
2
Number of units
2
Flooring type
Carpet, Hardwood
Building materials
Block
Roof type
Flat
Architectural style
Ranch
Listing Agency:
Brooklyn Real Property, Inc
(718) 272-8988
Listed By:
Jean Paul Ho · License #JPH8888
(718) 875-8899
Added: Sep 21
Changed: Sep 22
Last Checked: Sep 27 at 1:06PM
MLS# 504762
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 mixed-use property includes a fully detached brick residential building with two five-room apartments totaling approximately 1,600 square feet. Each apartment is approximately 800 square feet and includes a kitchen, bathroom, natural light, carpet and hardwood flooring, and access to a full finished basement of approximately 800 square feet. The residence was built in 1910 and features block construction, a flat roof, and a ranch-style design.
A separate one-story commercial storefront measures approximately 450 square feet and includes a half bathroom, high ceilings, ample windows, and corner exposure. The storefront formerly operated as a deli and is accompanied by private parking and a driveway behind the building. The property occupies 0.0413 acres and is zoned R4-1. Multiple addresses associated with the property include 9024 and 9026 Glenwood Road, 9026 Glenwood Road, 2 Durland Place, and 6 Durland Place. Shopping, restaurants, buses, schools, and neighborhood amenities are nearby.
A separate one-story commercial storefront measures approximately 450 square feet and includes a half bathroom, high ceilings, ample windows, and corner exposure. The storefront formerly operated as a deli and is accompanied by private parking and a driveway behind the building. The property occupies 0.0413 acres and is zoned R4-1. Multiple addresses associated with the property include 9024 and 9026 Glenwood Road, 9026 Glenwood Road, 2 Durland Place, and 6 Durland Place. Shopping, restaurants, buses, schools, and neighborhood amenities are nearby.
Key Highlights
- Two detached buildings on one property: a two‑family residence and a commercial storefront
- Residential building totals 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
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,508
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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Cap Rate, Value Estimation, Potential NOI and more
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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 detached buildings combine a two-family residence with a separate commercial storefront and private rear parking.
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 detached buildings on one property: a two‑family residence and a commercial storefront; Residential building totals approximately 1,600 square feet with two approximately 800‑square‑foot apartments; Full finished basement of approximately 800 square feet
