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    The Largest CRE Database in the US with Over 1 Million Listings

    2001 Avenue U Brooklyn, NY 11229

    Sponsored
    For Sale
    $275,000

    Prime Brooklyn location, high foot traffic, $275,000

    Property size:
    6,740 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    410
    This exceptional commercial land opportunity is located at 2001 Avenue U in Brooklyn, New York, 11229, within Kings (Brooklyn) County. The property encompasses a 2,239 square foot lot and offers a total buildable area of 6,740 square feet across four stories. The lot's strategic placement at the bustling intersection of Avenue U and Ocean Avenue ensures high visibility and significant foot traffic, ideal for a variety of commercial ventures. Currently, the site includes a thriving deli occupying approximately 800 square feet of ground floor retail space, complemented by a double-sized basement for ample storage. Adding to the income potential, the property also features "outdoor" flower shops that generate an additional $1,500 monthly rental income. The existing deli currently pays a low monthly rent of $5,000. This presents a unique chance for an investor to acquire a well-situated property with existing income streams and significant development potential. The asking price for this remarkable opportunity is $275,000. The ceiling height is noted as "Other" in the property records. This property is a rare find in a high-demand area and offers substantial returns for the discerning investor.

    Property Features for 2001 Avenue U

    General Information

    Property type
    Land
    Square Feet
    6,740 SF

    Building Details

    Stories
    4

    We can help!

    Listing Contact
    Nissim Twito

    Learn more

    HighLights

    • $275,000 asking price for a commercial land parcel.
    • 6,740 square feet total, with a 2,239 square foot lot size.
    • Located at 2001 Avenue U, Brooklyn, NY 11229.
    • Four‑story building with other ceiling heights.
    • Currently features a deli with 800 SF of ground floor retail space and a double‑sized basement, plus additional income from an outdoor flower shop.
    Property Profile Location Intelligence

    Current Use by Public Records

    INK & TONER Toner Cartridge Supplier Ocean Deli Grocery ... Mexican Grocery Store J & N Deli Grocery Store

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Hair Salon Dental Office 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 (Brooklyn)
    State
    New York
    Longitude
    -73.9512511
    Latitude
    40.5995893

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    FAQs

    What type of property is this?
    Land - Prime Brooklyn location, high foot traffic, $275,000
    Where is this land located?
    The property is located at 2001 Avenue U Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $275,000.
    What are key features of this property?
    This property features: $275,000 asking price for a commercial land parcel.; 6,740 square feet total, with a 2,239 square foot lot size.; Located at 2001 Avenue U, Brooklyn, NY 11229.
    Request Owner's contact information
    2001 Avenue U Brooklyn, NY 11229
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    Brooklyn, NY 11229
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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
    2001 Avenue U Brooklyn, NY 11229
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    We can help!
    Listing Contact
    Nissim Twito
    Real Estate License ID: New York
    Learn more
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