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    479 Nostrand Ave Brooklyn, NY 11216

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    For Lease
    Contact for pricing

    Nostrand Ave. Store - Multiple Units Available

    Lot size:
    2,305 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    401
    This exceptional retail opportunity presents 2,305 square feet of vacant space at 479 Nostrand Avenue in the vibrant Brooklyn, New York neighborhood. Located in Kings County, zip code 11216, this property offers multiple tenancy options, perfect for a variety of retail businesses. The building is currently entirely vacant, providing a blank canvas for a new tenant or multiple tenants to customize the space to their specific needs. Individual units range from a minimum of 380 square feet to a maximum contiguous space of 750 square feet, offering flexibility for businesses of different sizes. The property's address is 479 Nostrand Ave, providing excellent street visibility and accessibility for customers. This is an ideal location for businesses seeking high foot traffic and a strong presence in a thriving community. The property's total square footage is 2,305 square feet, providing ample space for a variety of retail concepts. With its strategic location and flexible space options, this property represents a rare and exciting opportunity for retail expansion or establishment in a dynamic Brooklyn market. The property is classified as a retail store with multiple tenancy capabilities. Interested parties are encouraged to inquire about lease terms and availability. The property is situated at 40.68094 latitude and -73.949542 longitude.

    Property Features for 479 Nostrand Ave

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    2,305 SF

    Unit(s) available at that property

    Space
    Space C
    Size
    380 SF
    Space
    Space D
    Size
    460 SF
    Space
    Space A
    Size
    550 SF
    Space
    Space B
    Size
    380 SF
    Space
    Space E
    Size
    750 SF
    Space
    Space F
    Size
    625 SF

    HighLights

    • 2,305 SF vacant retail space at 479 Nostrand Avenue, Brooklyn, NY 11216.
    • Multiple tenancy options available, units ranging from 380 SF to 750 SF contiguous.
    • Excellent street visibility and accessibility on Nostrand Avenue.
    • One block from the A & C subway station.
    • Ideal for retail businesses seeking high foot traffic in a thriving community.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    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
    -73.949542
    Latitude
    40.68094

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    FAQs

    What type of property is this?
    Retail property - Nostrand Ave. Store - Multiple Units Available
    Where is this retail property located?
    The property is located at 479 Nostrand Ave Brooklyn, NY.
    What are key features of this property?
    This property features: 2,305 SF vacant retail space at 479 Nostrand Avenue, Brooklyn, NY 11216.; Multiple tenancy options available, units ranging from 380 SF to 750 SF contiguous.; Excellent street visibility and accessibility on Nostrand Avenue.
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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.

    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
    479 Nostrand Ave Brooklyn, NY 11216
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