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    3233 Fulton St Brooklyn, NY 11208

    Sponsored
    For Lease
    $105 SF/Yr

    Cypress Hills Office/Retail Space Available

    Lot size:
    4,560 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    406
    This charming three-story building at 3233 Fulton Street offers 4,560 square feet of versatile commercial space, ideal for a variety of uses. Built in 1915, this property boasts six suites in a prime Cypress Hills location, near Fulton Park. The building's R5 zoning allows for flexible tenant occupancy, making it suitable for retail, traditional office, or creative office spaces. Currently, one 250-square-foot suite is available for lease. The entire building sits on a 0.07-acre lot. With its historic character and convenient location, this property presents a unique opportunity for businesses seeking a distinctive space. The building's multiple suites provide flexibility for various business needs, from small startups to established companies. Its proximity to Fulton Park adds to its appeal, offering a vibrant and accessible location for employees and customers alike. The building's single structure and three stories provide a manageable and efficient layout. The property's Asset Parcel Number (APN) is 04127-0057. Don't miss this chance to secure a space in this desirable Cypress Hills location.

    Property Features for 3233 Fulton St

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    4,560 SF
    Total Rate
    40128

    Building Details

    Year Built
    1915
    Buildings
    1
    Stories
    3

    Unit(s) available at that property

    Space
    Available Space 1
    Size
    250 SF
    Rate per SF
    $105

    We can help!

    Listing Contact
    Joseph Kenig
    Joseph Kenig

    Learn more

    Property Insight Report

    HighLights

    • 4,560 square foot, three‑story building with six suites available for lease.
    • Located at 3233 Fulton Street in Cypress Hills, near Fulton Park.
    • Property type: Retail and Office (Traditional and Creative Office subtypes).
    • One 250 square foot retail space currently available for lease.
    • Building built in 1915, situated on a 0.07‑acre lot, with APN 04127‑0057 and R5 zoning.
    Property Profile Location Intelligence

    Current Use by Public Records

    Yo soy jony ... Christmas Market Liese's Virgin Hair Hair Extensions Supplier True Image Weave ... Hair Salon

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.8758805
    Latitude
    40.6827615

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    FAQs

    What type of property is this?
    Office space - Cypress Hills Office/Retail Space Available
    Where is this office space located?
    The property is located at 3233 Fulton St Brooklyn, NY.
    What is the lease rate?
    The lease rate is $105 SF/Yr.
    What are key features of this property?
    This property features: 4,560 square foot, three-story building with six suites available for lease.; Located at 3233 Fulton Street in Cypress Hills, near Fulton Park.; Property type: Retail and Office (Traditional and Creative Office subtypes).
    Request Owner's contact information
    3233 Fulton St Brooklyn, NY 11208
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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
    3233 Fulton St Brooklyn, NY 11208
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    We can help!
    Listing Contact
    Joseph Kenig
    Joseph Kenig
    Real Estate License ID: NY 10491212624
    Learn more
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