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 Market115
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
Listed By:
Siu Kit Wong · License #SW6470
(718) 532-2000
Source:
Exprealty
Added: Jun 26
Changed: Oct 11
Last Checked: Oct 16 at 12:37PM
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
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Review the available facts, identify missing information and prepare questions for the agent.
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 / Yr
$75,771
Cap Rate
7.36%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
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
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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)
