Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    591 Flatbush Avenue Ext Brooklyn, NY 11225
    Back to Search
    Property profile & analytics

    591 Flatbush Avenue Ext Brooklyn, NY 11225

    View on Map
    • Retail properties & Spaces
    • 3,312 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 591 Flatbush Avenue Ext

    Year built
    1925
    Property size
    3,312 SF
    Property type
    Retail properties & Spaces

    Description

    This exceptional 3,312 square foot retail space at 591 Flatbush Avenue in Kings County (Brooklyn) presents a unique investment opportunity. Built in 1925, this three-story building boasts a single tenant occupancy and sits on a 1,455 square foot lot. The property features approximately 1,100 square feet of main floor retail space, perfect for showcasing merchandise through expansive display windows, attracting substantial foot traffic from its high-visibility location. A full basement provides additional versatile space, ideal for storage or expansion. The property's adaptability makes it suitable for a variety of businesses, including salons, boutiques, phone accessory stores, or even office space. This vibrant neighborhood ensures a consistent flow of potential customers. The lease structure is a net lease, with the tenant responsible for one-third of the real estate property taxes and all utilities, including gas and electricity. This turnkey property offers immediate occupancy and the chance to establish a thriving business in a prime Brooklyn location. Don't miss this chance to secure a highly visible and well-situated retail space in a bustling commercial area.

    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 (Brooklyn)
    State
    New York
    Longitude
    -73.9603
    Latitude
    40.6591

    Comparable in this City

    • Value Estimation by Request

      980 Nostrand Ave

      Retail properties & Spaces
      980 Nostrand Ave, Brooklyn, NY 11225
      View Details
    • Value Estimation by Request

      509 Rogers Ave

      Retail properties & Spaces
      509 Rogers Ave, Brooklyn, NY 11225
      View Details
    • Value Estimation by Request

      588 New York Ave

      Retail properties & Spaces
      588 New York Ave, Brooklyn, NY 11225
      View Details
    • Value Estimation by Request

      513 New York Ave

      Medical Office Space
      513 New York Ave, Brooklyn, NY 11225
      View Details
    • Value Estimation by Request

      252 Empire Blvd

      Restaurants
      252 Empire Blvd, Brooklyn, NY 11225
      View Details
    • Value Estimation by Request

      215 Rogers Ave

      Office Units
      215 Rogers Ave, Brooklyn, NY 11225
      View Details

    Similar Nearby for Sale

    • $2,399,999

      Corner Mixed-Use Brooklyn Opportunity

      Two-family brick property with commercial storefront and residential duplex.
      1105 Nostrand Ave, Brooklyn, NY 11225
      View Details
    • Contact for pricing

      Wingate Community Facility Space

      New 3,000 SF commercial space ideal for various uses.
      513 New York Ave, Brooklyn, NY 11225
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space Near Subway Lines

      490 SF retail space near 2 and 5 subway lines.
      856 Nostrand Ave, Brooklyn, NY 11225
      View Details
    • Contact for pricing
      750 SF

      Retail Space in Prime Location

      750 sq ft retail space with basement storage.
      545 Brooklyn Ave, Brooklyn, NY 11225
      View Details
    • $8,000 /Mo

      New Commercial Space in Wingate

      3,000 SF ground-floor space ideal for community-based use.
      513 New York Ave, Brooklyn, NY 11225
      View Details
    • Contact for pricing

      Renovated Corner Loft Office/Retail Space

      Bright, renovated 2000 SF corner loft office/retail space for rent.
      980 Nostrand Ave, Brooklyn, NY 11225
      View Details
    • Contact for pricing

      High Traffic Storefront Property

      Accessible glass storefront in a high-traffic Brooklyn area.
      681 Flatbush Ave, Brooklyn, NY 11225
      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.
    591 Flatbush Avenue Ext
    Brooklyn, NY 11225
    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

    Thank You for Inquiry
    591 Flatbush Avenue Ext, Brooklyn, NY, 11225
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!