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    185 Montague St Brooklyn, NY 11201

    Sponsored
    For Lease
    $120 SF/Yr ($5,000 /Mo)

    Prime Brooklyn Heights Office: 500 sq ft, Stunning Views

    Lot size:
    500 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    This exceptional 500-square-foot office space is located at 185 Montague Street, PHB, in the vibrant heart of Brooklyn Heights, New York. Situated in a 15-story building constructed in 1929, this single-tenant office boasts breathtaking views of the city. The space is fully renovated and ready for immediate occupancy, making it an ideal solution for businesses seeking a move-in ready location. The property sits on a 5,000-square-foot lot and is perfectly suited for a variety of professional uses, including but not limited to legal practices, accounting firms, content creation studios, or other service-based businesses. Its prime location in Kings County (Brooklyn), with the zip code 11201, ensures high visibility and easy access to a diverse clientele. This is a rare opportunity to secure a well-appointed office space in one of Brooklyn's most desirable neighborhoods. The convenient location and stunning views make this property a truly exceptional offering. Don't miss this chance to establish your business in this prestigious Brooklyn Heights address.

    Property Features for 185 Montague St

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    500 SF
    Total Rate
    5000

    Building Details

    Year Built
    1929
    Stories
    15

    Unit(s) available at that property

    Space
    185 Montague Street PHB
    Size
    500 SF
    Rate per SF
    $120

    HighLights

    • 500‑square‑foot office space in Brooklyn Heights, NY.
    • Located at 185 Montague Street, PHB, in a 15‑story, 1929 building.
    • Fully renovated and move‑in ready.
    • Offers breathtaking city views.
    • Situated on a 5,000‑square‑foot lot in the desirable 11201 zip code.
    Property Profile Location Intelligence

    Current Use by Public Records

    Chipotle Mexican Grill Fast Food Restaurant Dr. Richard W. ... Otolaryngologist Endodontic Associates of Brooklyn ... Endodontist Dr. Robert S. ... Endodontist Brooklyn Periodontics and Implant ... Dental Implants Periodontist

    Suggested Use

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

    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
    -73.9918967
    Latitude
    40.6942678

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    FAQs

    What type of property is this?
    Office Property / Space - Prime Brooklyn Heights Office: 500 sq ft, Stunning Views
    Where is this office property / space located?
    The property is located at 185 Montague St Brooklyn, NY.
    What is the lease rate?
    The lease rate is $120 SF/Yr.
    What are key features of this property?
    This property features: 500-square-foot office space in Brooklyn Heights, NY.; Located at 185 Montague Street, PHB, in a 15-story, 1929 building.; Fully renovated and move-in ready.
    Request Owner's contact information
    185 Montague St Brooklyn, NY 11201
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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
    185 Montague St Brooklyn, NY 11201
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