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    Stuyvesant Heights Community Use Facility Title is generated by Realmo AI

    281 Stuyvesant Ave., Brooklyn, NY 11233

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    For Lease
    $12,385/Mo $22 SF/Yr (calc)

    Commercial Building, Elevator - Brooklyn, NY

    Property size:
    6,605 SF
    Added:
    Aug 20, 2019
    Days on Market:
    2483
    Last Refresh:
    Jun 6 at 5:06 am

    Property Features for 281 Stuyvesant Ave.

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    100
    Bathrooms
    8
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5
    Parking features
    Garage
    Standard status
    Active
    Size
    6,605 SF

    Taxes and HOA fees

    Tax Annual Amount
    0

    Utilities

    Heating system
    Forced Air

    Building Details

    Year built
    1910
    Year renovated
    1910
    Floors in Building
    4
    Flooring type
    Carpet, Vinyl
    Architectural style
    Other

    We can help!

    Listing Contact
    Richard Flateau

    Listing agent Richard Flateau

    Listing office FLATEAU REALTY CORP 368A DECATUR ST, BROOKLYN, NY

    Listing date Aug 20, 2019

    MLS# 10649353 Listing URL

    Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Four‑story limestone building ideal for community use in Stuyvesant Heights, Bedford‑Stuyvesant.
    • Conveniently located near A & C trains (J, M & LIRR nearby) and multiple bus lines (46, 25, 26 & 15).
    • Features three floors of classrooms, one floor of administrative space, an elevator, and a finished basement with warming kitchen.
    • Total of 8 half bathrooms (two on each floor) plus an additional half bath in the basement.
    • Front and rear egress on all floors, plus a small outdoor space in the rear.
    • Space can be divided, offering flexible layout options.

    Overview

    Located in the Stuyvesant Heights area of Bedford-Stuyvesant, this four-story limestone building is suitable for community use. The property features three floors of classrooms and one floor of administrative space, along with an elevator and a basement. Transportation options include proximity to the A and C trains, as well as the J, M, and LIRR lines, and bus routes 46, 25, 26, and 15. The building is situated near the cross streets of Jefferson Avenue and Hancock Street, with main corridors including Atlantic Ave, Fulton Street, Utica Ave., Gates, and Broadway. Previously leased to a Pre-K organization, the building includes two half bathrooms on each floor, totaling eight bathrooms. The finished basement contains a warming kitchen and an additional half bath, with the possibility of completing it as a full kitchen. The property also features front and rear egress on all floors and a small outdoor space in the rear. The space can be divided. The approximate square footage is 109 square feet per floor for the rear stairs area, 1006 square feet for each of the 1st, 2nd, 3rd, and 4th floors, and 995 square feet for the cellar, totaling 5,019 square feet (not including the rear stairs). The landlord seeks a lease of 3 years or more to start. Tenant is responsible for utilities and elevator expenses.
    Property Profile Location Intelligence

    Current Use by Public Records

    Schools

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.932169
    Latitude
    40.684904

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    FAQs

    What type of property is this?
    School - Four-story limestone building with classrooms, administrative space, and elevator.
    Where is this school located?
    The property is located at 281 Stuyvesant Ave. Brooklyn, NY.
    What is the lease rate?
    The lease rate is $12,385 /Mo.
    What are key features of this property?
    This property features: Four‑story limestone building ideal for community use in Stuyvesant Heights, Bedford‑Stuyvesant.; Conveniently located near A & C trains (J, M & LIRR nearby) and multiple bus lines (46, 25, 26 & 15).; Features three floors of classrooms, one floor of administrative space, an elevator, and a finished basement with warming kitchen.
    (718) 953-2732
    We can help!
    Listing Contact
    Richard Flateau
    Request Owner's contact information
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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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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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