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    6518 20Th Ave Brooklyn, NY 11204

    Sponsored
    For Lease
    $19 SF/Yr ($3,200 /Mo)

    2,000 sq ft Office, Kings County

    Lot size:
    2,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    401
    This exceptional 2,000 square foot office space in Kings County (Brooklyn), located at 6518 20th Avenue, presents a unique opportunity for a single tenant. The property features a desirable double storefront, ideal for maximizing visibility and attracting clients. Currently configured as a shared office space, it includes six individual rooms and a spacious waiting area, providing ample room for various needs. The layout is versatile and adaptable to a range of professional uses. Two of the six rooms are typically available for immediate occupancy, offering flexibility for expansion or accommodating specific workflow requirements. The building's total square footage is 2,000 square feet, encompassing the entire space, ensuring privacy and control over the environment. This single-tenant occupancy eliminates the complexities of shared spaces and allows for complete customization to suit your business's unique operational needs. The property's location in Kings County offers excellent access to transportation, amenities, and a thriving business community. This is an exceptional opportunity to secure a well-appointed, conveniently located office space in a prime Brooklyn location. The double storefront provides excellent street presence, enhancing the overall appeal and accessibility of the property. The existing configuration, with its six rooms and large waiting area, provides a solid foundation for immediate occupancy and future expansion.

    Property Features for 6518 20Th Ave

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    2,000 SF
    Total Rate
    3200

    Unit(s) available at that property

    Space
    6518 20th Avenue
    Size
    2,000 SF
    Rate per SF
    $19

    HighLights

    • 2,000 square foot office building in Kings County (Brooklyn).
    • Single‑tenant occupancy.
    • Double storefront.
    • Suitable for physical therapy practice; includes six rooms and a large waiting area.
    • Two rooms typically available.
    Property Profile Location Intelligence

    Current Use by Public Records

    Access Physical Therapy Physical Therapist Richard Orsini Physical Therapy Clinic Branda Paul T ... Internist

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store 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
    -73.9864808
    Latitude
    40.6162273

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    FAQs

    What type of property is this?
    Office Property / Space - 2,000 sq ft Office, Kings County
    Where is this office property / space located?
    The property is located at 6518 20Th Ave Brooklyn, NY.
    What is the lease rate?
    The lease rate is $19 SF/Yr.
    What are key features of this property?
    This property features: 2,000 square foot office building in Kings County (Brooklyn).; Single-tenant occupancy.; Double storefront.
    Request Owner's contact information
    6518 20Th Ave Brooklyn, NY 11204
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    Brooklyn, NY 11204
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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
    6518 20Th Ave Brooklyn, NY 11204
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