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    8820 Avenue J Brooklyn, NY 11236

    For Sale
    $10,500,000

    Well-maintained 24-unit building in Canarsie, Brooklyn with 421A Tax Abatement.

    Lot size:
    0.37 Acres

    Property Features for 8820 Avenue J

    General Information

    Lot size
    0.37 Acres

    Building Details

    Year built
    2016

    Source: Blue Key Real Estate Brokerage Agent Reginald Brannen

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

    Overview

    Canarsie 24-Unit Investment Property

    Located in Canarsie, Brooklyn, this well-maintained brick building features 24 units, each with 2 bedrooms and 2 baths. The property is designed for steady rental demand. Tenants are responsible for all utilities except water. The building operates on all-electric systems, which eliminates the need for gas, boiler maintenance, or a compactor room. The property includes a legal super's unit, an accessory office in the basement with a half bath, and additional storage rooms. The absence of an elevator contributes to lower maintenance costs. A 421A Tax Abatement is in place. With a Net Operating Income (NOI) of $649,000 and a Net Cap Rate of 6.2%, this property is suitable for long-term investors or a 1031 exchange. The property offers stable income, minimal overhead, and efficient building systems.
    Location Intelligence

    Current Use by Public Records

    B&B Group Management ... Business Development Service

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.905136
    Latitude
    40.637623

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    FAQs

    What type of property is this?
    Apartment building - Well-maintained 24-unit building in Canarsie, Brooklyn with 421A Tax Abatement.
    Where is this apartment building located?
    The property is located at 8820 Avenue J Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $10,500,000.
    What are key features of this property?
    This property features: - Turn-key 24-unit investment property with steady rental demand.; - **Net Operating Income (NOI) of $649,000 and a Net Cap Rate of 6.2%.**; - 421A Tax Abatement in place.
    (718) 921-2280
    Request Owner's contact information
    8820 Avenue J Brooklyn, NY 11236
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    Brooklyn, NY 11236
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    Realmo Value Estimation

    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.

    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
    8820 Avenue J Brooklyn, NY 11236
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