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
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1022 New York Ave Brooklyn, NY 11203

    • Apartment buildings
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • PEPA-ANN MY FOOD TRUCK LLC. / Restaurant

    Property Details for 1022 New York Ave

    Year built
    1931
    Property type
    Apartment buildings

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9467
    Latitude
    40.6483

    Comparable in this City

    • Value Estimation
      $2,290,000
      48,400 SF

      770 New York Ave

      APARTMENT HOUSE (5+ UNITS) • 48,400 SF
      770 New York Ave, Brooklyn, NY 11203-2055
      View Details
    • Value Estimation
      $2,630,000
      44,928 SF

      249 37th St, Unit 53

      APARTMENT HOUSE (5+ UNITS) • 44,928 SF
      249 37th St, Brooklyn, NY 11203-4015
      View Details
    • Value Estimation
      $2,295,000
      90,279 SF

      690 Albany Ave

      APARTMENT HOUSE (5+ UNITS) • 90,279 SF
      690 Albany Ave, Brooklyn, NY 11203-2140
      View Details
    • Value Estimation by Request
      1,500 SF

      3304 Avenue D

      Multifamily properties • 1,500 SF
      3304 Avenue D, Brooklyn, NY 11203
      View Details
    • Value Estimation by Request

      822 Lenox Rd

      Multifamily properties
      822 Lenox Rd, Brooklyn, NY 11203
      View Details
    • Value Estimation
      $825,000
      5,710 SF

      315 54th St, Unit 6

      APARTMENT HOUSE (5+ UNITS) • 5,710 SF
      315 54th St, Brooklyn, NY 11203-4614
      View Details

    Similar Nearby for Sale

    • $875,000
      6,000 SF

      Brooklyn Multifamily Investment Opportunity

      Fully occupied six-family apartment building for sale in Brooklyn.
      590 Maple St, Brooklyn, NY 11203
      View Details
    • $1,049,000

      East Flatbush Multifamily Investment Opportunity

      Six-family building in excellent condition with income potential.
      197 E 52Nd St, Brooklyn, NY 11203
      View Details
    • $999,000
      4,890 SF

      Brooklyn Multifamily Investment Opportunity

      Multifamily property in Sunset Park, Brooklyn, ideal for investment.
      456 E 40Th St, Brooklyn, NY 11203
      View Details
    • $999,999
      5,330 SF

      Brooklyn Six-Family Investment Property

      Well-maintained 6-family brick building in East Flatbush, Brooklyn.
      243 E 51St St, Brooklyn, NY 11203
      View Details
    • $1,200,000
      3 SF

      Brooklyn Multi-Unit Investment Opportunity

      Multi-unit property in Brooklyn's Wingate section with high income potential.
      584 Maple St, Brooklyn, NY 11203
      View Details
    • $2,600,000
      5,400 SF

      Brooklyn Mixed-Use Investment Opportunity

      Well-maintained mixed-use building in East Flatbush with commercial and residential units.
      4823 Church Ave, Brooklyn, NY 11203
      View Details

    Similar Nearby for Lease

    • $2,100 /Mo

      East Flatbush One-Bedroom Apartment

      One-bedroom apartment in East Flatbush, available for rent.
      688 E 43Rd St, Brooklyn, NY 11203
      View Details
    • $2,500 /Mo

      Spacious Apartment Near Transportation

      Large 2-bedroom apartment with hardwood floors and stainless steel appliances.
      132 E 52Nd St, Brooklyn, NY 11203
      View Details
    • $2,800 /Mo

      Brooklyn Multifamily Property for Rent

      Multifamily property available for rent in Brooklyn, New York.
      801 Albany Ave, Brooklyn, NY 11203
      View Details
    • Contact for pricing
      200 SF

      Brooklyn Commercial Kitchen Space

      Prime 250 sq ft Ghost Kitchen, Utica Ave
      1140 Utica Ave, Brooklyn, NY 11203
      View Details
    • $50 SF/Yr
      6,300 SF

      Prime East Flatbush Retail Space

      Retail space in high-traffic East Flatbush location with signage opportunity.
      746 Utica Ave, Brooklyn, NY 11203
      View Details
    • $12,000 /Mo
      4,500 SF

      Brooklyn Retail Space with Parking

      Corner retail location in Brooklyn with parking included in rent.
      5402-5408 Church Ave, Brooklyn, NY 11203
      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.
    1022 New York Ave
    Brooklyn, NY 11203
    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.