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    945 Bergen St Brooklyn, NY 11238

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    Inline retail unit with high visibility and accessibility.

    Type:Retail
    Property size:
    5,515 SF
    Added:
    Sep 17, 2024
    Days on Market:
    592
    Last Refresh:
    Mar 17 at 1:22 pm

    Property Features for 945 Bergen St

    General Information

    Standard status
    Active
    Size
    5,515 SF
    Property subtype
    Retail

    Spaces For Lease

    at 945 Bergen St Contact us

    Available spaces 2 $65 /Mo

    Size
    1,222 SF
    Type
    Retail
    0 ft frontagen12 ft ceilingsnTriple Net (NNN)n$65 per sqft
    Contact us

    Space 4 $70 /Mo

    Size
    1,022 SF
    Type
    Retail
    0 ft frontagen9 ft ceilingsnApprox 9' CeilingsnGreat for various types of usagenCan...
    show more
    Contact us

    Space 3 $70 /Mo

    Size
    2,558 SF
    Type
    Retail
    $70 per sqftn9 ft ceilings
    Contact us

    Space 1 $65 /Mo

    Size
    713 SF
    Type
    Retail
    12 ft ceilingsnSquare Footage: 713 sq. ft.nPrice: $65 per sq. ft.nCeiling Height:...
    show more
    Contact us

    We can help!

    Listing Contact
    Eli Deitsch

    Listing agent Eli Deitsch License #10401332795

    Listing office EXR

    Listing date Sep 17, 2024

    Source Crexi

    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 EXR

    Overview

    Prime Retail Space on Bergen

    Located at 945 Bergen St in Brooklyn, this commercial space offers 713 square feet of area. The unit is an inline retail space with direct street access from Bergen St, ensuring excellent visibility and accessibility. The space features 12-foot ceilings and exposed beams, providing a modern industrial feel suitable for businesses seeking a unique, open atmosphere. The property has two means of egress for added safety and compliance. The space is ventable and has great light. The location is at the intersection of Crown Heights and Bedstuy, with access to the A, C, 2, 3, 4, 5 trains at Franklin and Nostrand. This versatile space is suitable for a variety of uses, making it a prime opportunity for businesses looking to establish a distinctive and inviting presence.
    Location Intelligence

    Current Use by Public Records

    Nassau Brewing Company ... Apartment Building

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Grocery & Convenience 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
    -73.955522
    Latitude
    40.676543

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    FAQs

    What type of property is this?
    Retail space - Inline retail unit with high visibility and accessibility.
    Where is this retail space located?
    The property is located at 945 Bergen St Brooklyn, NY.
    What are key features of this property?
    This property features: Prime location at the intersection of Crown Heights and Bedstuy with high visibility on Bergen St.; Excellent transportation access: A, C, 2, 3, 4, 5 trains at Franklin and Nostrand.; **Ventable space with great natural light and efficient shape.**
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Eli Deitsch
    Real Estate License ID: 10401332795
    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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