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    360 Ocean Pkwy Brooklyn, NY 11218

    • Apartment buildings
    • 850 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Goldsmith Robert MD / Doctor
    • Safe Repair Roofing &Waterproofing / Construction Company / Bricklayer
    • Safe Repair Construction Roofing & waterproofing Brownston Facade Restoration Masonry Cement / Construction Company
    • Safe Repair Construction, Roofing & Waterproofing, Brownstone Façade Restoration, Masonry Concrete and cement work / Construction Company / Bricklayer
    • Safe Repair Construction / Roofing Contractor / Bricklayer

    Property Details for 360 Ocean Pkwy

    Property size
    850 SF
    Property type
    Apartment buildings

    Description

    This exceptional 41-unit apartment building, located at 360 Ocean Parkway in the desirable Kensington neighborhood of Brooklyn, New York, presents a compelling investment opportunity. The property boasts a total of 850 square feet and is offered at an attractive price of $349,000, translating to a price per unit of $411. Situated in Kings County, with a zip code of 11218, this multifamily property benefits from its prime location. While specific unit details are not provided, the building offers a significant number of rental units, presenting potential for strong rental income. The seller is motivated and has reduced the price to facilitate a quick sale. This makes it an attractive proposition for investors seeking a solid return on investment in a thriving Brooklyn neighborhood. Further details regarding the individual units and their layouts are available upon request. A virtual tour is available online for a preliminary view of the property. This is a rare opportunity to acquire a substantial multifamily asset in a highly sought-after area of Brooklyn. Serious inquiries are encouraged to act swiftly. The property's location offers easy access to various amenities and transportation options, enhancing its appeal to potential tenants. This is a turnkey investment ready for immediate income generation.

    Value Estimations

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9739
    Latitude
    40.6403

    Comparable in this City

    • Value Estimation by Request
      38,800 SF

      175 Ocean Pkwy, Unit 39

      APARTMENT HOUSE (5+ UNITS) • 38,800 SF
      175 Ocean Pkwy, Brooklyn, NY 11218-2568
      View Details
    • Value Estimation by Request
      77,400 SF

      101 Ocean Pkwy, Unit 60

      APARTMENT HOUSE (5+ UNITS) • 77,400 SF
      101 Ocean Pkwy, Brooklyn, NY 11218-1756
      View Details
    • Value Estimation by Request
      94,050 SF

      178 Ocean Pkwy, Unit 96

      APARTMENT HOUSE (5+ UNITS) • 94,050 SF
      178 Ocean Pkwy, Brooklyn, NY 11218-2461
      View Details
    • Value Estimation by Request
      104,640 SF

      829 Greenwood Ave, Unit 135

      APARTMENT HOUSE (5+ UNITS) • 104,640 SF
      829 Greenwood Ave, Brooklyn, NY 11218-1349
      View Details
    • Value Estimation by Request
      67,500 SF

      800 Greenwood Ave, Unit 63

      APARTMENT HOUSE (5+ UNITS) • 67,500 SF
      800 Greenwood Ave, Brooklyn, NY 11218-1340
      View Details
    • Value Estimation by Request
      95,106 SF

      279-295 Ocean Pkwy Pkwy, Unit 77

      APARTMENT HOUSE (5+ UNITS) • 95,106 SF
      279-295 Ocean Pkwy Pkwy, Brooklyn, NY 11218
      View Details

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    360 Ocean Pkwy
    Brooklyn, NY 11218
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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
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