Retail Condo with Indoor
For Sale
$1,030,000
S1-268 Bay Ridge Ave, Brooklyn, NY 11220
Vacant 2015-built retail condo offers available indoor parking spaces and storefront-ready space near major Bay Ridge Avenue retail.
Property Size2,870 SF
Price / SF$358.89
Days on Market68
Property Features for S1-268 Bay Ridge Ave
General Information
Standard status
Active
Size
2,870 SF
Taxes and HOA fees
Annual Taxes
$10,124
Building Details
Year Built
2015
Listing Agency:
RE/MAX Real Estate Professiona
(718) 532-2000
Listed By:
Siu Kit Wong · License #SW6470
(718) 532-2000
Source:
Exprealty
Added: Jun 26
Changed: Aug 31
Last Checked: Aug 30 at 9:41PM
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 RE/MAX Real Estate Professiona
Investment Insights
Based on property information with market context.
This for-sale retail condo was built in 2015 and is currently vacant. The offering is described as a large commercial condo with an estimated indoor parking configuration, with additional indoor parking spaces available for an added cost. The space is positioned for a wide range of day-to-day retail and business use.
Located on Bay Ridge Avenue in Brooklyn, the property is next to a supermarket and close to 3rd Avenue. The immediate retail mix is described as including neighborhood businesses such as a bakery, restaurants, banks, bars, and pharmacy stores.
Presented as a storefront retail asset with indoor parking availability, the unit is available for investors and owner-operators looking for flexible occupancy in a busy commercial corridor.
Located on Bay Ridge Avenue in Brooklyn, the property is next to a supermarket and close to 3rd Avenue. The immediate retail mix is described as including neighborhood businesses such as a bakery, restaurants, banks, bars, and pharmacy stores.
Presented as a storefront retail asset with indoor parking availability, the unit is available for investors and owner-operators looking for flexible occupancy in a busy commercial corridor.
Key Highlights
- Vacant retail commercial condo built in 2015
- Estimated 2,870 SF retail space
- Indoor parking spaces available (additional cost)
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
$75,771
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
7.36%
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%
$1,515,420
$1.5M
Cap Rate 7%
$1,082,443
$1.1M
Cap Rate 9%
$841,900
$841.9K
Market Conditions
NOI Build-Up for 2,870 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
$120.5K $42.00/SF
− Vacancy
−$12.3K −$4.28/SF
EGI
$108.2K $37.72/SF
− OpEx
−$32.5K −$11.31/SF
NOI
$75.8K $26.40/SF
Area
ZIP 11220
Vacancy
10.20%
Lease Rate
$42.00 /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%
$1,515,420
Cap Rate 7%
$1,082,443
Cap Rate 9%
$841,900
Alternative Uses
Best Use
Retail
$1.08M
$947.1K – $1.26M
NOI $75,771 @ 7.0% cap · market cap 7.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.86M
$1.63M – $2.17M
NOI $130,238 @ 7.0% cap · market cap 12.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,760
Businesses Nearby
17k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 100%
SuperFresh
Groceries
16,616 visits/mo
0.4 miles
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 Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - Vacant 2015-built retail condo offers available indoor parking spaces and storefront-ready space near major Bay Ridge Avenue retail.
Where is this storefront property located?
The property is located at S1-268 Bay Ridge Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,030,000.
What are key features of this property?
This property features: Vacant retail commercial condo built in 2015; Estimated 2,870 SF retail space; Indoor parking spaces available (additional cost)
