Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    38 Franklin St Brooklyn, NY 11222

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Repositioned retail space with outdoor seating in trendy Brooklyn.

    Property size:
    2,500 SF
    Lot size:
    0.38 Acres

    Property Features for 38 Franklin St

    General Information

    Size
    2,500 SF
    Lot size
    0.38 Acres

    We can help!

    Listing Contact
    David Green
    David Green
    Source: Moodyscre

    Listing Agent: David Green

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Prime Retail Space in Brooklyn

    Located where Greenpoint meets Williamsburg in Brooklyn, this retail space offers a repositioned environment suitable for creating a shopping or dining experience. The space includes 3 to 4 distinct areas featuring high ceilings. An outdoor seating area provides a vibrant atmosphere. This location is surrounded by new restaurants. The property is suitable for high-end restaurants and unique retail concepts. The space totals 2500 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Scheel Corporation Chemical Wholesaler

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.956991
    Latitude
    40.726506

    Nearby Similar for Lease

    • $25,000
      7,500 SF

      Renovated Office Space in Brooklyn

      7,500 sq ft of renovated office space for lease.
      405 Gates Ave, Brooklyn, NY 11216
      View Details
    • $5,850 /Mo
      1,200 SF

      Adaptable Retail + Creative Space

      Corner retail and creative space in East Williamsburg, Brooklyn.
      282 Scholes St, Brooklyn, NY 11206
      View Details
    • $3,850 /Mo
      1,540 SF

      Brighton Beach Medical Office Suite

      Turn-key medical suite in a high-demand Brooklyn neighborhood.
      2833 Ocean Pkwy, Brooklyn, NY 11235
      View Details
    • $10,000 /Mo
      2,200 SF

      Modern Medical Office Suites Available

      Modern, fully built-out medical office suites in a new elevator building.
      849 53Rd St, Brooklyn, NY 11220
      View Details
    • $30,000
      12,800 SF

      Brooklyn Office Building For Rent

      Commercial building in Sheepshead Bay, suitable for school, medical use.
      3588 Nostrand Ave, Brooklyn, NY 11229
      View Details
    • $25,000
      8,700 SF

      Prime Commercial Space on Nostrand

      8,000 sqft commercial space for lease in Crown Heights.
      713 Nostrand Ave, Brooklyn, NY 11216
      View Details
    • $7,000 /Mo
      3,500 SF

      Renovated Office Space in Williamsburg

      Recently renovated 3,500 SF office space with new amenities.
      84 Withers St, Brooklyn, NY 11211
      View Details
    • $12,385 /Mo
      6,605 SF

      Stuyvesant Heights Community Use Facility

      Four-story limestone building with classrooms, administrative space, and elevator.
      281 Stuyvesant Ave, Brooklyn, NY 11233
      View Details
    • $27,880
      6,970 SF

      Brooklyn Newly Constructed Corner Building

      Newly constructed 4-story corner building with finished basement for lease.
      5301 7Th Ave, Brooklyn, NY 11220
      View Details
    • $5,000 /Mo
      1,000 SF

      Modern Medical Suites in Brooklyn

      Newly constructed medical suites with flexible leasing options.
      849 53Rd St, Brooklyn, NY 11220
      View Details
    • $8,100 /Mo
      2,304 SF

      Brooklyn Commercial Condo for Lease

      Spacious commercial condo near transportation and shopping.
      1749 East 16Th St, Brooklyn, NY 11229
      View Details
    • $3,200 /Mo
      4,930 SF

      Newly Renovated Brooklyn Office Spaces

      Three office spaces and a storefront available for lease.
      1944 Prospect Pl, Brooklyn, NY 11233
      View Details

    FAQs

    What type of property is this?
    Retail space - Repositioned retail space with outdoor seating in trendy Brooklyn.
    Where is this retail space located?
    The property is located at 38 Franklin St Brooklyn, NY.
    What are key features of this property?
    This property features: - Prime location in the trendy Greenpoint/Williamsburg area of Brooklyn.; - Suitable for high-end restaurants and unique retail concepts.; - Newly repositioned space with 3-4 distinct areas.
    (516) 320-0260
    Request Owner's contact information
    38 Franklin St Brooklyn, NY 11222
    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.
    38 Franklin St
    Brooklyn, NY 11222
    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
    38 Franklin St Brooklyn, NY 11222
    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
    David Green
    David Green
    (516) 320-0260
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.