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    506 Graham Ave Brooklyn, NY 11222

    • Commercial real estate
    • 2,520 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-1123543
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 506 Graham Ave

    Property size
    2,520 SF
    Property type
    Commercial real estate

    Description

    This vacant, semi-detached three-family home in Greenpoint, Brooklyn, presents a compelling redevelopment opportunity. Situated on a 1,295 square foot lot (20 x 64.75 ft) and boasting a 2,520 square foot building (20 x 42 ft), this property offers significant upside. The asking price is $1,925,000, translating to $763.89 per square foot and $641,667 per unit. Pre-approved architectural plans are in place for conversion into a legal four-family dwelling, significantly increasing rental income potential. Alternatively, the property could be converted into a single-family residence or maintained as a three-family rental. An additional 427 square feet of buildable space allows for expansion. The property is zoned R6B with a FAR of 1.67 and a maximum FAR of 2. Annual property taxes are $5,189. Located near McCarren Park, this property benefits from a prime Greenpoint location bordering Williamsburg, offering excellent access to amenities and transportation. The building is three stories high. This is an exceptional investment opportunity for those seeking to capitalize on the thriving Greenpoint real estate market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.946067
    Latitude
    40.720536

    Comparable in this City

    • $3,600,000
      5,500 SF

      Greenpoint Mixed-Use Investment

      7-Unit Building, High ROI Potential
      1021 Manhattan Ave, Brooklyn, NY 11222
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    • $895,000
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      Greenpoint Multifamily Investment Opportunity

      Two Brooklyn properties with development potential and existing income.
      638 Humboldt St, Brooklyn, NY 11222
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    • $1,159,000
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      Brooklyn Multifamily Investment Opportunity

      Three-story walk-up building in Greenpoint near McGolrick Park.
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    • $1,725,000

      Brooklyn Triplex Requiring Renovation

      Three-family frame building in Brooklyn needing significant work.
      275 Nassau Ave, Brooklyn, NY 11222
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    • $2,150,000
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      Renovated Greenpoint Multifamily Investment Property

      Renovated 6-family building in prime Greenpoint, Brooklyn. Two vacant units.
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      Brooklyn Multifamily Property For Sale

      Multifamily property available for purchase in Brooklyn, New York.
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    Similar Nearby for Sale

    • $3,600,000
      5,500 SF

      Greenpoint Mixed-Use Investment

      7-Unit Building, High ROI Potential
      1021 Manhattan Ave, Brooklyn, NY 11222
      View Details
    • $895,000
      Pending

      Greenpoint Multifamily Investment Opportunity

      Two Brooklyn properties with development potential and existing income.
      638 Humboldt St, Brooklyn, NY 11222
      View Details
    • $1,159,000
      4,536 SF

      Brooklyn Multifamily Investment Opportunity

      Three-story walk-up building in Greenpoint near McGolrick Park.
      695 Meeker Ave, Brooklyn, NY 11222
      View Details
    • $1,725,000

      Brooklyn Triplex Requiring Renovation

      Three-family frame building in Brooklyn needing significant work.
      275 Nassau Ave, Brooklyn, NY 11222
      View Details
    • $2,150,000
      4,500 SF

      Renovated Greenpoint Multifamily Investment Property

      Renovated 6-family building in prime Greenpoint, Brooklyn. Two vacant units.
      46 Sutton St, Brooklyn, NY 11222
      View Details
    • $3,200,000

      Brooklyn Multifamily Property For Sale

      Multifamily property available for purchase in Brooklyn, New York.
      18 Russell St, Brooklyn, NY 11222
      View Details

    Similar Nearby for Lease

    • $6,500 /Mo

      Modern Apartment Near McCarren Park

      Modern 2BR/2BA apartment near McCarren Park in Greenpoint.
      129 Russell St, Brooklyn, NY 11222
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    • $12,000 /Mo

      Greenpoint Duplex with Private Yard

      Spacious 4-bedroom duplex with private yard in prime Greenpoint.
      105 Russell St, Brooklyn, NY 11222
      View Details
    • New
      $5,500 /Mo

      Renovated 3-Bedroom Apartment with Roof Deck

      Recently renovated 3-bedroom apartment in Greenpoint with private roof deck.
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    • $16 SF/Yr
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      Brooklyn Industrial Land for Sale

      Secure Paved Lot, Kings County, NY
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    • Contact for pricing
      6,210 SF

      Greenpoint Avenue Retail Space

      Brooklyn Retail, Multiple Units Available
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    • $40 SF/Yr
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      Iconic Williamsburg Event Space

      Huge 33,000 SF Venue - Greenpoint
      145 Kent St, Brooklyn, NY 11222
      View Details
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    506 Graham Ave
    Brooklyn, NY 11222
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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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