Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    73 Kent Ave Brooklyn, NY 11249

    • Retail properties
    • 25,520 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for 73 Kent Ave

    Year built
    1960
    Property size
    25,520 SF
    Property type
    Retail properties
    Property subtype
    Mixed-use properties

    Description

    This exceptional 25,520 square foot commercial property at 73 Kent Avenue in Williamsburg, Brooklyn presents a compelling value-add investment opportunity. The two-story building, constructed in 1960, sits on a 12,760 square foot lot and boasts over 224 feet of wraparound frontage. Currently vacant with an occupancy date of September 16, 2024, this M1-2 zoned property offers significant redevelopment potential. The building's prime location directly across from Marsha P. Johnson State Park and the soon-to-be-expanded Bushwick Inlet Park provides unparalleled waterfront views and proximity to the vibrant Williamsburg neighborhood. Benefit from the area's thriving 24/7 retail, hospitality, and food and beverage scene, with renowned hotels like The Hoxton, Arlo, William Vale, and The Wythe within easy reach, as well as popular entertainment venues such as Second City and Brooklyn Bowl. The demolition of the adjacent CitiStorage building will further enhance the property's value by creating expansive park and Manhattan skyline views. This unique opportunity allows for repositioning of the existing structure and activation of the rooftop space, maximizing its potential within this dynamic and sought-after location. The asking price is $22,500,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9604
    Latitude
    40.7215

    Comparable in this City

    • Value Estimation by Request
      135,611 SF

      200 Kent Ave

      Individual retail properties • 135,611 SF
      200 Kent Ave, Brooklyn, NY 11249
      View Details
    • Value Estimation by Request
      6,718 SF

      175 Kent Ave

      Restaurants • 6,718 SF
      175 Kent Ave, Brooklyn, NY 11249
      View Details
    • Value Estimation by Request
      3,012 SF

      44 6Th St

      Restaurants • 3,012 SF
      44 6Th St, Brooklyn, NY 11249
      View Details
    • Value Estimation by Request

      58 Kent Ave

      Restaurants
      58 Kent Ave, Brooklyn, NY 11249
      View Details
    • Value Estimation by Request

      353 Berry St

      Land
      353 Berry St, Brooklyn, NY 11249
      View Details
    • Value Estimation by Request
      6,500 SF

      1083-85 Broadway

      Retail properties • 6,500 SF
      1083-85 Broadway, Brooklyn, NY 11249
      View Details

    Similar Nearby for Sale

    • $5,500,000
      Pending

      Mixed-Use Building in Prime Williamsburg

      Mixed-use property with six apartments and two stores in Brooklyn.
      105 Berry St, Brooklyn, NY 11249
      View Details
    • $6,200,000
      16,435 SF

      Williamsburg Mixed-Use Investment Opportunity

      Corner property with retail and apartments in prime Williamsburg location.
      129 South 4Th St, Brooklyn, NY 11249
      View Details
    • $5,500,000
      5,350 SF

      Extra Large Mixed-Use Brick 6 Family + 2 Stores

      Extra Large Mixed-Use Brick 6 Family + 2 Stores
      105 BERRY STREET, BROOKLYN, NY 11249
      View Details
    • $5,500,000
      5,350 SF

      Prime Williamsburg Mixed-Use Gem

      Six-family, two-store investment opportunity in prime Brooklyn location.
      105 Berry St, Brooklyn, NY 11249
      View Details
    • $22,000,000
      52,000 SF

      Brooklyn Retail and Garage Condominiums

      52,000 SF retail and garage condominium units in Williamsburg, Brooklyn.
      197-203 Berry St, Brooklyn, NY 11249
      View Details
    • Contact for pricing
      10,000 SF

      Prime Williamsburg Commercial Building

      10,000 SF vacant building with retail and office space.
      55-57 N 9Th St, Brooklyn, NY 11249
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,012 SF

      Prime Brooklyn Retail Space

      3,012 SF, High-Traffic Location
      44 6Th St, Brooklyn, NY 11249
      View Details
    • $40 SF/Yr
      4,032 SF

      Williamsburg Retail Spaces Available

      Prime Williamsburg retail, two spaces available.
      97 3Rd St, Brooklyn, NY 11249
      View Details
    • Contact for pricing
      30,989 SF

      Retail Space Near Bushwick Inlet

      Retail property near Bushwick Inlet Park in Greenpoint, Brooklyn.
      25 Kent Ave, Brooklyn, NY 11249
      View Details
    • $89 SF/Yr
      5,700 SF

      Prime Williamsburg Retail Space

      5,700 SF Retail, Newly Renovated
      303 Wythe Ave, Brooklyn, NY 11249
      View Details
    • Contact for pricing
      21,079 SF

      Prime Brooklyn Retail Space

      21,079 SF Available, Multiple Tenancy
      187 Kent Ave, Brooklyn, NY 11249
      View Details
    • Contact for pricing
      127,626 SF

      Industrial Space Available For Rent

      Industrial property with 127,626 square feet available for rent.
      289 Kent Ave, Brooklyn, NY 11249
      View Details
    Request Owner's contact information
    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.
    73 Kent Ave
    Brooklyn, NY 11249
    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
    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

    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.