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    Gut-Renovated Office Suite Title is generated by Realmo AI

    2198A Flatbush Avenue, Brooklyn, NY 11234

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    New
    For Lease
    $1,400/Mo $120 SF/Yr (calc)

    COMMERCIAL - Brooklyn, NY

    Property size:
    140 SF
    Added:
    Jun 1, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 2 at 6:06 pm

    Property Features for 2198A Flatbush Avenue

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Standard status
    Active
    Size
    140 SF

    Building Details

    Number of units
    1

    We can help!

    Listing Contact
    Juliette E. Pannone

    Listing agent Juliette E. Pannone

    Listing office Revived Residential 2124 Flatbush Ave, Brooklyn, NY

    Listing date Jun 1, 2026

    MLS# 501919

    Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Two rooms for rent within a retail space in Marine Park
    • Space fully gut‑renovated within the last three years
    • Separate kitchenette plus split system heating and cooling in each room
    • Two air‑conditioned waiting areas, one on each floor
    • Lower‑level corner suite with LVP floors and recessed lighting
    • Tenants get key fob access during preferred 9 AM–7 PM hours; a smaller first‑floor suite with a sink is also available

    Overview

    Available for rent is a gut-renovated lower-level corner suite within a prime retail location at 2198A Flatbush Avenue. The suite is designed for service-based professionals, offering a quiet, dedicated room with LVP flooring and recessed lighting. Each occupant receives its own key fob for access during preferred hours from 9:00 AM to 7:00 PM, supporting a controlled, client-focused environment.

    The setup includes a split system heating and cooling unit in each room, plus two air-conditioned waiting areas, with one waiting area on each floor. Additional amenities include a separate kitchenette for convenience within the space.

    This suite is a strong fit for operators who want an updated, turn-key room for private client work in a well-appointed setting. The property also offers a smaller suite on the first floor with a sink; however, it may not be ideal for professions that require ventilation. Two quiet technician rooms are currently in use, making the environment well suited for complementary wellness or beauty services where privacy and clean finishes matter.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.981488
    Latitude
    40.689807

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    FAQs

    What type of property is this?
    Office units - Recently renovated lower-level corner suite with private key-fob access, split HVAC, and dedicated waiting areas for client-ready operations.
    Where is this office units located?
    The property is located at 2198A Flatbush Avenue Brooklyn, NY.
    What is the lease rate?
    The lease rate is $1,400 /Mo.
    What are key features of this property?
    This property features: Two rooms for rent within a retail space in Marine Park; Space fully gut‑renovated within the last three years; Separate kitchenette plus split system heating and cooling in each room
    (929) 379-3750
    We can help!
    Listing Contact
    Juliette E. Pannone
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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.

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