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    225 34Th St Brooklyn, NY 11232

    Sponsored
    For Lease
    $18 SF/Yr ($3,300 /Mo)

    2,200 SF, Two Spaces Available

    Lot size:
    2,200 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    This exceptional property at 225 34th Street in Brooklyn, NY, offers a combined 2,200 square feet of retail and/or office space across two levels, currently entirely vacant and ready for immediate occupancy. Located in the vibrant Greenwood Heights neighborhood, adjacent to Park Slope, this building benefits from high foot traffic and excellent visibility. The ground floor comprises 2,200 square feet, including a 700-square-foot basement, ideal for a variety of uses, including medical, office, retail, showroom, or food-related businesses. The landlord is open to various uses, making this a highly adaptable space for a diverse range of businesses. The second floor offers an additional 2,000 square feet of space in excellent move-in condition, also suitable for a variety of commercial uses. The building's location within a densely populated residential area ensures consistent foot traffic and strong exposure. The property is situated in Kings County, New York, with a zip code of 11232. Taxes are $0 per square foot. This is a unique opportunity to establish a thriving business in a prime Brooklyn location. The property consists of one building and is available immediately. The total building size is 2,200 square feet, with 2,200 square feet currently vacant.

    Property Features for 225 34Th St

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    2,200 SF
    Total Rate
    3300

    Building Details

    Buildings
    1

    Unit(s) available at that property

    Space
    Available Space 1
    Size
    2,000 SF
    Rate per SF
    $18
    Space
    Available Space 2
    Size
    2,900 SF
    Rate per SF
    $19
    Property Profile Location Intelligence

    Current Use by Public Records

    Studio225BK Photography Studio Amy's Cookies Wholesale Bakery Lugo Photography Inc Photographer Fluency 34, LLC Music Store GB3Arts Photographer

    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
    State
    New York
    Longitude
    -74.0016083
    Latitude
    40.6546289

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    FAQs

    What type of property is this?
    Office Property / Space - 2,200 SF, Two Spaces Available
    Where is this office property / space located?
    The property is located at 225 34Th St Brooklyn, NY.
    What is the lease rate?
    The lease rate is $18-$19 SF/Yr.
    Request Owner's contact information
    225 34Th St Brooklyn, NY 11232
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    Brooklyn, NY 11232
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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
    225 34Th St Brooklyn, NY 11232
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