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    234 Norwood Ave Brooklyn, NY 11208

    For Sale
    $2,699,000

    New Construction, High Occupancy, Strong NOI

    Property size:
    8,296 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This exceptional investment opportunity presents a brand-new, six-unit apartment building at 234 Norwood Avenue in Brooklyn, New York. Completed in 2024, the property boasts 8,296 square feet across three stories, situated on a desirable 6,042 square foot lot. All six units are currently 100% occupied, generating a substantial Net Operating Income (NOI) of $232,000 and an attractive 8.60% capitalization rate. The building is classified as a Core+ investment, offering a stable and promising return. Each unit is a spacious two-bedroom apartment, featuring ceiling heights ranging from 8 to 10 feet. The building's convenient location, just one block from the Norwood Avenue subway station on a tree-lined street, ensures high demand and ease of access for tenants. The asking price for this turnkey investment property is $2,699,000. This represents a rare opportunity to acquire a high-performing, newly constructed multifamily asset in a thriving Brooklyn neighborhood. The property's strong financials, combined with its desirable location and modern construction, make it an ideal addition to any investment portfolio. The building's excellent condition and high occupancy rate minimize immediate management concerns, allowing for a smooth transition for the new owner.

    Property Features for 234 Norwood Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    8,296 SF

    Building Details

    Year Built
    2024
    Buildings
    1
    Stories
    3
    Units
    6

    HighLights

    • Brand‑new, six‑unit apartment building in Brooklyn, NY, completed in 2024.
    • 8,296 square feet on a 6,042 square foot lot.
    • 100% occupied, generating $232,000 NOI and an 8.60% cap rate.
    • Six spacious two‑bedroom units.
    • Located one block from the Norwood Avenue subway station.
    • Asking price: $2,699,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings (Brooklyn)
    State
    New York
    Longitude
    -73.8791907
    Latitude
    40.6803452

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    FAQs

    What type of property is this?
    Multifamily property - New Construction, High Occupancy, Strong NOI
    Where is this multifamily property located?
    The property is located at 234 Norwood Ave Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $2,699,000.
    What are key features of this property?
    This property features: Brand-new, six-unit apartment building in Brooklyn, NY, completed in 2024.; 8,296 square feet on a 6,042 square foot lot.; 100% occupied, generating $232,000 NOI and an 8.60% cap rate.
    Request Owner's contact information
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    Brooklyn, NY 11208
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    234 Norwood Ave Brooklyn, NY 11208
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