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    Brooklyn Commercial Space for Lease Title is generated by Realmo AI

    417 Marcus Garvey BLVD, Brooklyn, NY 11216

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    For Lease
    $7,500/Mo $50 SF/Yr (calc)

    Commercial Lease - Brooklyn, NY

    Property size:
    1,800 SF
    Added:
    Jun 27, 2025
    Days on Market:
    321
    Last Refresh:
    May 13 at 8:06 am

    Property Features for 417 Marcus Garvey BLVD

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Bathrooms
    2
    Rooms
    Basement, Bathroom 1, Bathroom 2, Kitchen
    Parking features
    Garage
    Basement Y/N
    1
    Standard status
    Active
    Size
    1,800 SF

    Taxes and HOA fees

    Tax Annual Amount
    0

    Utilities

    Heating system
    Natural Gas

    Building Details

    Floors in Building
    1
    Flooring type
    Hardwood, Tile
    Building materials
    Brick
    Architectural style
    Other

    We can help!

    Listing Contact
    Gregory Barthelemy

    Listing agent Gregory Barthelemy

    Listing office THE HIGGINS REALTY GROUP 1962 Linden Boulevard, BROOKLYN, NY

    Listing date Jun 27, 2025

    MLS# 11533464 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

    • High foot traffic location in the heart of vibrant Bed‑Stuy.
    • Ideal for food and beverage businesses (bar/grill, restaurant, fast food).
    • Versatile space suitable for custom build‑outs.
    • Opportunity to capitalize on Bed‑Stuy's ongoing growth and cultural evolution.
    • Thriving arts scene, diverse culinary landscape, and strong sense of community.
    • Includes basement and multiple bathrooms.

    Overview

    Located in the heart of Bed-Stuy, this commercial space offers an opportunity for a business to thrive in a dynamic neighborhood. Situated on a bustling thoroughfare, the location benefits from significant daily foot traffic. The surrounding area features historic brownstones, community spaces, and an increasing number of residents and visitors. The neighborhood is known for its arts scene, diverse culinary options, and community feel. This space is suited for a range of businesses and is ideal for an experienced operator in the restaurant business. Potential concepts include a bar and grill, restaurant, or fast food establishment. The space is also suitable for a boutique or small business. The property provides opportunities for custom build-outs. The property size is 1800 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Macka Tree Bar & Pub TreeHouse BK Bar & Pub Ethel & Annie Mae's ... Restaurant

    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
    -73.937786
    Latitude
    40.682827

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    FAQs

    What type of property is this?
    Retail space - Prime commercial space in vibrant Bed-Stuy, Brooklyn. High foot traffic.
    Where is this retail space located?
    The property is located at 417 Marcus Garvey BLVD Brooklyn, NY.
    What is the lease rate?
    The lease rate is $7,500 /Mo.
    What are key features of this property?
    This property features: High foot traffic location in the heart of vibrant Bed‑Stuy.; Ideal for food and beverage businesses (bar/grill, restaurant, fast food).; Versatile space suitable for custom build‑outs.
    (347) 533-4832
    We can help!
    Listing Contact
    Gregory Barthelemy
    Learn More
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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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