Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Property profile & analytics

    420 Park Ave Brooklyn, NY 11205

    • Land
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 420 Park Ave

    Property type
    Land
    Property subtype
    Industrial properties

    Description

    This exceptional 12,000-square-foot commercial land parcel presents a unique investment opportunity in Brooklyn's rapidly evolving Bedford-Stuyvesant neighborhood. Located at the corner of Park and Kent Avenues (420 Park Avenue & 832 Kent Avenue), this property boasts a prime location with 100 feet of frontage along Park Avenue. The combined lots (Block: 1897 Lot: 29,31) measure 100ft x 120ft and are zoned M1-1, allowing for a variety of mixed-use development possibilities. Currently generating a total gross annual income of $177,022 from existing leases, this property offers immediate return potential while providing significant upside for future development. Its strategic location places it steps from the vibrant Myrtle Avenue retail corridor and a short distance from the Brooklyn Navy Yard, ensuring strong tenant demand and future appreciation. Furthermore, the property's proximity to the Classon Avenue "G" subway station (6 blocks) enhances its accessibility and desirability. Offers and ground lease proposals are welcome for this exceptional development opportunity in a neighborhood experiencing significant growth in residential and commercial sectors. This is a rare chance to acquire a sizable, commercially-zoned land parcel in a prime Brooklyn location with significant potential for long-term growth and profitability.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9598
    Latitude
    40.6962

    Comparable in this City

    • Value Estimation by Request

      19 Flushing Ave

      Land
      19 Flushing Ave, Brooklyn, NY 11205
      View Details
    • Value Estimation by Request

      114 Adelphi St

      Multifamily properties
      114 Adelphi St, Brooklyn, NY 11205
      View Details
    • Value Estimation by Request
      9,000 SF

      160 Flushing Ave

      Office space • 9,000 SF
      160 Flushing Ave, Brooklyn, NY 11205
      View Details
    • Value Estimation
      $435,000
      5,269 SF

      195 Waverly Ave

      INDUSTRIAL (GENERAL) • 5,269 SF
      195 Waverly Ave, Brooklyn, NY 11205-3605
      View Details
    • Value Estimation
      $290,000
      3,600 SF

      865 Kent Ave

      PRINTING, PUBLISHING (LIGHT INDUSTRIAL) • 3,600 SF
      865 Kent Ave, Brooklyn, NY 11205
      View Details
    • Value Estimation by Request
      4,000 SF

      34 Taaffe Pl

      Distribution properties • 4,000 SF
      34 Taaffe Pl, Brooklyn, NY 11205
      View Details

    Similar Nearby for Sale

    • $6,250,000

      Brooklyn Land For Sale

      Land available in Brooklyn, New York.
      313-315 Clermont Ave, Brooklyn, NY 11205
      View Details
    • $3,980,000
      7,500 SF

      Brooklyn Warehouse with Freezer Room

      Brooklyn warehouse featuring freezer room and fresh-keeping storage.
      45 Washington Ave, Brooklyn, NY 11205
      View Details
    • Contact for pricing
      178,856 SF

      Brooklyn Commercial Space with M1-2 Zoning

      Large commercial property in Williamsburg with flexible M1-2 zoning.
      6771 Kent Ave, Brooklyn, NY 11205
      View Details
    • $1,500,000

      Brooklyn Commercial Land For Sale

      M1-2 zoned land with development potential near transportation.
      40 Carlton Ave, Brooklyn, NY 11205
      View Details
    • Contact for pricing

      Park Avenue Land Opportunity

      Land with approved plans for an 11,104 SF building.
      219 Park Ave, Brooklyn, NY 11205
      View Details
    • Contact for pricing
      12,000 SF

      Corner Lots in Bedford-Stuyvesant

      Two contiguous lots in a rapidly developing area.
      832 Kent Ave, Brooklyn, NY 11205
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      5,000 SF

      Prime Brooklyn Corner Lot

      5,000 SF Commercial Land, Kings County
      19 Flushing Ave, Brooklyn, NY 11205
      View Details
    • Contact for pricing
      4,950 SF

      Brooklyn Warehouse Space Available

      Warehouse space with freight elevator, conveniently located near the highway.
      110 Classon Ave, Brooklyn, NY 11205
      View Details
    • $30 SF/Yr
      15,000 SF

      Brooklyn Industrial Space For Lease

      15,000 SF Flex Space in Prime Brooklyn Location
      0 Brooklyn Ny, Brooklyn, NY 11205
      View Details
    • $30 SF/Yr
      20,300 SF

      Brooklyn Warehouse Opportunity

      Multiple Units, High Ceilings, 5,300 SF Vacant
      0 Brooklyn Ny, Brooklyn, NY 11205
      View Details
    • Contact for pricing
      3,962 SF

      Retail Space with Brewery Potential

      Retail space featuring a ground-floor brewery and outdoor beer garden.
      141 Flushing Ave, Brooklyn, NY 11205
      View Details
    • Contact for pricing
      8,527 SF

      Brooklyn Flex Space with Freight

      8,527 SF flex space with freight access in Brooklyn.
      63 Flushing Ave, Brooklyn, NY 11205
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    420 Park Ave
    Brooklyn, NY 11205
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.