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

    358 Grv Stcb1 Brooklyn, NY 11237-5536

    • Parking lots & garages
    • 168 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-5924712
    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

    • Puerto Rican Family Institute / Association Or Organization
    • Rug Cleaners Brooklyn / Carpet Cleaning Service
    • E&G Realty Group / Real Estate Agency
    • BDC Cosmetic Dentist Dumbo Orthodontist / Orthodontist
    • Zipcar / Car Rental Agency / Transportation Service

    Property Details for 358 Grv Stcb1

    Property size
    168 SF
    Zone code
    R6
    Property type
    Parking lots & garages
    APN
    03328-1114
    APU
    33281114

    Description

    This exceptional 3,300 square foot executive office space is situated in a Class B building at 358 Grove Street, Brooklyn, NY 11237. The property boasts a total of 49,867 square feet, offering ample room for expansion or collaboration within a thriving community. Currently, 3,300 square feet is immediately available for lease in a multi-tenant building. The building is zoned R6 and sits on a 20,000 square foot lot in the desirable Bushwick neighborhood, known for its vibrant atmosphere and diverse businesses. Its strategic location between Wyckoff Avenue and Myrtle Avenue provides unparalleled convenience, with easy access to public transportation. The L and M trains are readily accessible at the Myrtle-Wyckoff Avenues station, and the M train is also conveniently located at Knickerbocker Avenue. This prime location places the property within walking distance of numerous amenities, including Santander Bank, Capital One, Starbucks, Citibank, and various popular cafes and restaurants, ensuring a dynamic and convenient work environment. The property's strong tenant mix and high visibility make it an ideal location for businesses seeking a thriving and well-connected space in the heart of Brooklyn. Kings County location offers a strong business environment.

    Value Estimations

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9138
    Latitude
    40.6999
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $14
    $594
    $4,719
    $5,313
    -
    $1,319
    $10,487
    $11,806

    Comparable in this City

    • Value Estimation by Request

      358 Grv Stcb9

      PARKING LOT
      358 Grv Stcb9, Brooklyn, NY 11237-5536
      View Details
    • Value Estimation by Request

      358 Grv Stcb12

      PARKING LOT
      358 Grv Stcb12, Brooklyn, NY 11237-5536
      View Details
    • Value Estimation by Request

      358 Grv Stcb7

      PARKING LOT
      358 Grv Stcb7, Brooklyn, NY 11237-5536
      View Details
    • Value Estimation by Request

      358 Grv Stcb11

      PARKING LOT
      358 Grv Stcb11, Brooklyn, NY 11237-5536
      View Details
    • Value Estimation by Request

      782 Hart St, Unit PS5

      PARKING LOT
      782 Hart St, Brooklyn, NY 11237-3898
      View Details
    • Value Estimation by Request
      153 SF

      369 Harman St, Unit P3

      PARKING LOT • 153 SF
      369 Harman St, Brooklyn, NY 11237-4852
      View Details

    Similar Nearby for Sale

    • $2,998,000
      10,880 SF

      Brooklyn Mixed-Use Redevelopment Opportunity

      Six-story building in Bushwick/Ridgewood with redevelopment potential.
      102 Wyckoff Ave, Brooklyn, NY 11237
      View Details
    • $1,999,999
      Pending

      Brooklyn Three-Family Property with Garage

      Three-family property in Bushwick with a four-car garage and backyard.
      994 Hart St, Brooklyn, NY 11237
      View Details
    • $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
    • Contact for pricing
      35,000 SF

      Williamsburg Mixed-Use Loft Building

      High-NOI, 26-Unit Investment Opportunity
      47 Thames St, Williamsburg Brooklyn, NY 11237
      View Details
    • $299,000
      5,250 SF

      Turnkey Restaurant Business Opportunity

      Fully operational restaurant for sale in a prime Brooklyn location.
      324 Suydam St, Brooklyn, NY 11237
      View Details
    • Contact for pricing
      6,900 SF

      Brooklyn Commercial Building with Loft

      6,900 SF commercial building with high ceilings and loft.
      1 Knickerbocker Ave, Brooklyn, NY 11237
      View Details

    Similar Nearby for Lease

    • 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
    • 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
      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
    • Contact for pricing
      500 SF

      Brooklyn Retail Space in Bushwick

      Retail space available in Brooklyn's Bushwick neighborhood.
      347 Linden St, Brooklyn, NY 11237
      View Details
    • Contact for pricing
      10,000 SF

      Spacious Retail Space with Skylights

      10,000 SF retail space featuring skylights and roll-up gates.
      421 Troutman St, Brooklyn, NY 11237
      View Details
    • Contact for pricing
      2,458 SF

      Retail Space on Knickerbocker Avenue

      Retail space available on busy Knickerbocker Avenue in Brooklyn.
      427-431 Knickerbocker 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.
    358 Grv Stcb1
    Brooklyn, NY 11237-5536
    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.

    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
    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.