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

    321-341 Starr St Brooklyn, NY 11237

    • Apartment buildings
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 321-341 Starr St

    Year built
    2017
    Property type
    Apartment buildings

    Description

    This exceptional 2-story apartment building, constructed in 2017, presents a lucrative investment opportunity in the desirable Brooklyn, NY market. Located at 321-341 Starr St, in the 11237 zip code, this property boasts 11 units, offering a price per unit of $1,995,454.55 and a compelling price per square foot of $843. The building sits on a substantial 23,250 square foot lot and is zoned M1-1. Currently 100% occupied, this asset benefits from a long-term ICAP tax abatement, significantly enhancing its financial performance. The property's strong financial profile is underscored by a Net Operating Income (NOI) of $1,345,535 and an attractive 6.13% capitalization rate. The asking price for this turnkey investment is $21,950,000. This represents a rare chance to acquire a high-performing, recently constructed multifamily property in a thriving Brooklyn neighborhood. The building's modern construction and strong occupancy rate promise consistent cash flow and significant appreciation potential. Detailed financial statements are available upon request. This property is a must-see for discerning investors seeking a stable and profitable addition to their portfolio.

    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
    -73.9205
    Latitude
    40.7081

    Comparable in this City

    • Value Estimation
      $225,000
      5,250 SF

      103 Starr St

      APARTMENT HOUSE (5+ UNITS) • 5,250 SF
      103 Starr St, Brooklyn, NY 11237-2424
      View Details
    • Value Estimation
      $160,000
      4,350 SF

      44 Morgan Ave

      APARTMENT HOUSE (5+ UNITS) • 4,350 SF
      44 Morgan Ave, Brooklyn, NY 11237-1994
      View Details
    • Value Estimation
      $190,000
      8,964 SF

      305 Eldert St

      APARTMENT HOUSE (5+ UNITS) • 8,964 SF
      305 Eldert St, Brooklyn, NY 11237-6259
      View Details
    • Value Estimation
      $290,000
      28,800 SF

      420 Stockholm St, Unit 428

      APARTMENT HOUSE (5+ UNITS) • 28,800 SF
      420 Stockholm St, Brooklyn, NY 11237-4013
      View Details
    • Value Estimation
      $220,000
      6,500 SF

      293 Troutman St, Unit 8

      APARTMENT HOUSE (5+ UNITS) • 6,500 SF
      293 Troutman St, Brooklyn, NY 11237-2699
      View Details
    • Value Estimation
      $190,000
      6,500 SF

      134 Grattan St

      APARTMENT HOUSE (5+ UNITS) • 6,500 SF
      134 Grattan St, Brooklyn, NY 11237-1713
      View Details

    Similar Nearby for Sale

    • $2,600,000
      4,208 SF

      Brooklyn Multifamily and Retail Property

      Corner property with residential, commercial, and garage units near transit.
      283 Wyckoff Ave, Brooklyn, NY 11237
      View Details
    • $998,000
      5,100 SF

      Bushwick 6-Family Investment Opportunity

      Classic brick building in Bushwick with development potential.
      1440 Dekalb Ave, Brooklyn, NY 11237
      View Details
    • $859,000

      Brooklyn Multifamily Investment Opportunity

      Six-unit apartment building in a developing Brooklyn neighborhood.
      109 Saint Nicholas Ave, Brooklyn, NY 11237
      View Details
    • $1,890,000
      0.06 Acres

      Vacant 6-Family Building, Bushwick

      Fully vacant 6-family building in the heart of Bushwick.
      409 Suydam St, Brooklyn, NY 11237
      View Details
    • $1,520,000
      4,275 SF

      Bushwick 6-Unit Multifamily

      Prime Bushwick location, 6-unit building, strong income.
      1371 Greene Ave, Brooklyn, NY 11237
      View Details
    • $998,000
      5,100 SF

      Classic Brick 6-Family Building

      Investment opportunity in vibrant Bushwick, New York.
      1440 Dekalb Ave, Brooklyn, NY 11237
      View Details

    Similar Nearby for Lease

    • $25 SF/Yr
      22,400 SF

      Bushwick Industrial Warehouse For Sale

      22,400 SF Warehouse, Prime Location
      335 Moffat St, Brooklyn, NY 11237
      View Details
    • $28 SF/Yr
      21,000 SF

      Williamsburg Warehouse: 21,000 SF

      New Construction, Multiple Units Available
      538 Johnson Ave, Brooklyn, NY 11237
      View Details
    • Contact for pricing
      4,430 SF

      Bushwick Venue and Performance Space

      41,000 SF venue in the heart of Bushwick's creative scene.
      427 Troutman St, Brooklyn, NY 11237
      View Details
    • $36 SF/Yr
      5,000 SF

      Brooklyn Flex Space For Rent

      Flex space with office component available for rent in Brooklyn.
      431 Johnson Ave, Brooklyn, NY 11237
      View Details
    • Contact for pricing
      2,200 SF

      Retail Space in Brooklyn Available

      Retail property available for rent in Brooklyn, New York.
      1427 Dekalb Ave, Brooklyn, NY 11237
      View Details
    • Contact for pricing
      500 SF

      Retail Space in Brooklyn Available

      500 SF retail space for rent in Brooklyn, NY.
      221 Irving Ave, Brooklyn, NY 11237
      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.
    321-341 Starr St
    Brooklyn, NY 11237
    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.