Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    722 MILLER AVENUE East New York, NY 11207

    View on Map
    Sponsored
    Source: https://caprijetrealty.com
    For Sale
    $1,350,000

    4,536 SF Commercial/Multifamily Investment Opportunity

    Property size:
    4,920 SF

    Property Features for 722 MILLER AVENUE

    General Information

    Property type
    Multifamily properties
    Square Feet
    4,920 SF
    Price / Square Foot
    $274
    Elevators
    N/A
    Net Rentable
    4,536 SF
    Lot Size
    3,033 SF

    Building Details

    Buildings
    1
    Stories
    3
    Units
    6

    Overview

    Commercial/Multifamily Investment Opportunity

    This three-story walk-up building offers 4,536 square feet of space and is located in East New York. The property features six rent-stabilized units, all of which are currently tenanted. Each residence includes spacious bedrooms, a comfortable living room, a full bath, and a dining area. The building is situated near a highway and train, providing access to the surrounding area and New York City. The property is also within walking distance of many amenities. Real estate taxes are approximately $14,000 annually. The building size is 4,920 square feet. The property has separate hot water heaters and is in great condition, presenting an investment opportunity with steady income streams and potential for long-term growth.

    We can help!

    Listing Contact
    Imran Williams

    Learn more

    Property Insight Report
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

    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
    East New York
    State
    New York
    Longitude
    -71.9198349
    Latitude
    41.0403815

    Nearby Comparable

    • $950,000
      0.19 Acres

      Prime Commercial Land in Montauk

      Commercial-zoned vacant land near beaches and town center in Montauk.
      90 South Erie Ave, Montauk, NY 11954
      View Details
    • $6,000,000

      Montauk Highway Land For Sale

      Commercial land available on Montauk Highway in Montauk, NY.
      809 Montauk Hwy, Montauk, NY 11954
      View Details
    • $6,000,000

      809 & 813 Montauk Hwy, Montauk, NY 11954

      Gas stations
      809 Montauk Hwy, Montauk, NY 11954
      View Details
    • $535,000

      Oceanfront Studio in Montauk

      Charming oceanfront studio with rental potential in Montauk, NY.
      126 South Emerson Ave, Montauk, NY 11954
      View Details
    • $2,650,000
      2,910 SF

      Montauk Mixed-Use Investment Opportunity

      Three-story commercial building in prime downtown location, ready for occupancy.
      45 South Euclid Ave, Montauk, NY 11954
      View Details
    • $2,999,500
      3,000 SF

      Montauk Mixed-Use Investment

      Prime Montauk location, 3,000 SF, three floors.
      45 Euclid Ave, Montauk, NY 11954
      View Details
    • $9,975,000
      9,600 SF

      Prime Montauk Retail Building For Sale

      Two-story, multi-tenant retail building in Montauk's shopping district.
      716 Montauk Hwy, Montauk, NY 11954
      View Details
    • $4,395,000
      2,900 SF

      Montauk Commercial Building For Sale

      Commercial building with restaurant, office/medical space, and accommodation.
      15 South Embassy St, Montauk, NY 11954
      View Details
    • $8,000,000
      3,360 SF

      Montauk Multifamily Investment Opportunity

      Updated multifamily property in Montauk village near beaches and amenities.
      21 S Euclid Ave, Montauk, NY 11954
      View Details
    • $11,500,000
      1.19 Acres

      Waterfront Multi-Unit Property with Expansion Potential

      1.19-acre Montauk waterfront property with 13 units and expansion potential.
      131 E Lake Dr, Montauk, NY 11954
      View Details
    • $26,000,000
      0.54 Acres

      Montauk Commercial Building For Sale

      Commercial building available in Montauk, New York.
      84 South Emerson Ave, Montauk, NY 11954
      View Details
    • Contact for pricing
      0.54 Acres

      Montauk Oceanfront Retail Opportunity

      Prime oceanfront retail, 26 keys, untapped potential
      84 Emerson Ave, Montauk, NY 11954
      View Details

    FAQs

    What type of property is this?
    Multifamily property - 4,536 SF Commercial/Multifamily Investment Opportunity
    Where is this multifamily property located?
    The property is located at 722 MILLER AVENUE East New York, NY.
    What is the asking price?
    The asking price for this property is $1,350,000.
    (516) 997-9000
    Request Owner's contact information
    722 MILLER AVENUE East New York, NY 11207
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    722 MILLER AVENUE
    East New York, NY 11207
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    722 MILLER AVENUE East New York, NY 11207
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Imran Williams
    (516) 997-9000
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!