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    4708 3rd Avenue Brooklyn, NY 11220

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    For Sale
    $1,400,000

    Versatile 4,700+ SF vacant building in evolving Brooklyn corridor.

    Type:Commercial
    Property size:
    4,719 SF
    Added:
    Feb 26, 2026
    Days on Market:
    48
    Last Refresh:
    Apr 8 at 8:08 pm

    Property Features for 4708 3rd Avenue

    General Information

    Standard status
    Active
    Size
    4,719 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    1931

    We can help!

    Listing Contact
    Erica Nieves
    Erica Nieves

    Listing agent Erica Nieves License #10401286753

    Listing office Park Slope

    Listing date Feb 26, 2026

    Source Corcoran

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

    All listing content including descriptions, pricing, images are the copyrighted material of Park Slope

    Overview

    Full Brooklyn Commercial Building Opportunity

    This full commercial building offers approximately 4,700+ square feet of versatile space across three levels. Delivered vacant, the property is suitable for end-users, investors, or businesses seeking a strong presence with high visibility and substantial interior square footage. The ground floor features an open layout with street frontage, high ceilings, and modern lighting, suitable for retail, showroom, medical, or service-based use. The second level offers a full-floor flexible layout with multiple rooms and bathrooms, ideal for office, creative, or operational use. The fully built-out lower level features a functioning kitchen, bathroom, and ample storage, making it suitable for staff use, back-of-house operations, or additional workspace. Located along 3rd Avenue, the property benefits from foot and vehicle traffic, proximity to Industry City, Greenwood Heights, and South Slope, and convenient access to transportation. The property is ideal for owner-users, investors, retail, medical, office, showroom, hospitality, or mixed commercial use. The building has 4,719 SF across 3 levels and a strong street presence and visibility.
    Location Intelligence

    Current Use by Public Records

    Triumph Construction Corporation Construction Company Party room 3av ... Party Supply 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.

    Similar Places Nearby

    • INFINITY FLOWERS — 5912 5th Ave, Brooklyn, NY 11220
    • Meaningful Flowers 2 — 407 61st St, Brooklyn, NY 11220
    • Palacios Flowers 2 — 5912 5th Ave, Brooklyn, NY 11220
    • Miriam's Flower — 5816 5th Ave, Brooklyn, NY 11220
    • Katy Gift & Flower Shop — 5914 5th Ave, Brooklyn, NY 11220

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -74.013393
    Latitude
    40.649431

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    FAQs

    What type of property is this?
    Storefront property - Versatile 4,700+ SF vacant building in evolving Brooklyn corridor.
    Where is this storefront property located?
    The property is located at 4708 3rd Avenue Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $1,400,000.
    What are key features of this property?
    This property features: Rare full commercial building offering 4,700+ SF across three levels.; Delivered vacant and turnkey, ready for immediate use.; Located on bustling 3rd Avenue with strong street presence and high visibility.
    (646) 764-6094
    We can help!
    Listing Contact
    Erica Nieves
    Erica Nieves
    Real Estate License ID: 10401286753
    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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