Detached Brick Duplex with Finished
For Sale
$920,000
994 Remsen Ave, Brooklyn, NY 11236
Two-family brick residence with a separate-entry finished basement, private driveway, and R4-1 zoning.
Property Size1,120 SF
Lot Size0.05 Acres
Price / SF$560.98
Days on Market130
Property Features for 994 Remsen Ave
General Information
Standard status
Active
Size
1,120 SF
Lot size
0.05 Acres
Property subtype
Multi Family
Additional Details
Business Included
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$6,432
Building Details
Building Size
1,120 SF
Buildings
1
Tenancy
Single
Listing Agency:
Brooklyn Real Property, Inc
Listed By:
Siu Y Shum · License #SYS0658
(718) 875-8899
Source:
Elliman
Added: Apr 28
Changed: Sep 2
Last Checked: Aug 31 at 5:04PM
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 detached brick two-family property offers a 6-room upper unit over a 5-room lower unit, along with a finished accessory basement that has its own entrance and a 3/4 bath. A gas boiler serves the building, and the private driveway accommodates 7–8 cars. The property sits on an enclosed 32.92-foot by 100-foot lot and carries R4-1 zoning with 1,350 unused FAR. Located on a busy two-way retail avenue, the property is near BJ’s, major shopping, a newly built Taco Bell, train service, and buses. WalkScore is 73, BikeScore is 56, and TransitScore is 84.
Key Highlights
- Detached brick two‑family property with 6 rooms over 5 rooms
- Finished accessory basement with separate entrance and 3/4 bath
- Private driveway accommodates 7–8 cars
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
$78,646
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
8.55%
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%
$1,572,920
$1.6M
Cap Rate 7%
$1,123,514
$1.1M
Cap Rate 9%
$873,844
$873.8K
Market Conditions
NOI Build-Up for 1,640 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
$127.5K $77.76/SF
− Vacancy
−$15.2K −$9.25/SF
EGI
$112.4K $68.51/SF
− OpEx
−$33.7K −$20.55/SF
NOI
$78.6K $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%
$1,572,920
Cap Rate 7%
$1,123,514
Cap Rate 9%
$873,844
Alternative Uses
Best Use
Retail
$1.12M
$983.1K – $1.31M
NOI $78,646 @ 7.0% cap · market cap 8.55%
Second Best
Multifamily LT 5
$820.5K
$718.0K – $957.3K
NOI $57,436 @ 7.0% cap · market cap 6.24%
Theoretical Best
Specialty Retail
$1.36M
$1.19M – $1.58M
NOI $95,054 @ 7.0% cap · market cap 10.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Turnkey business
Opportunity
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,307
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-family brick residence with a separate-entry finished basement, private driveway, and R4-1 zoning.
Where is this duplex located?
The property is located at 994 Remsen Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $920,000.
What are key features of this property?
This property features: Detached brick two‑family property with 6 rooms over 5 rooms; Finished accessory basement with separate entrance and 3/4 bath; Private driveway accommodates 7–8 cars
