Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    1229 Flushing Ave Brooklyn, NY 11237

    Property Lookup

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

    1229 Flushing Ave Brooklyn, NY 11237

    View on Map
    • Warehouses
    • 100,000 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 1229 Flushing Ave

    Year built
    1910
    Property size
    100,000 SF
    Property type
    Warehouses
    Property subtype
    Industrial properties

    Description

    This exceptional 10,000 square foot industrial space, situated in the vibrant East Williamsburg neighborhood of Kings County, presents a unique opportunity for a variety of businesses. Located near Gardner Ave, this property boasts convenient access to major highways and thoroughfares, ensuring seamless transportation and logistics. Built in 1910 and extensively renovated in 2020, the building offers a blend of historical charm and modern functionality. The space features a substantial 100,000 square foot building, with this particular unit offering high ceilings measuring 20 feet, ideal for various uses, from manufacturing and warehousing to creative studios. The property includes two loading docks and one drive-in gate, facilitating efficient loading and unloading operations. The multiple tenancy structure provides a dynamic and collaborative environment. This versatile space is perfectly suited for businesses seeking a blend of character and modern amenities in a prime East Williamsburg location, offering easy access to public transportation and major roadways. The property's industrial zoning allows for a wide range of uses, making it an attractive option for businesses seeking a flexible and adaptable workspace. This is a rare opportunity to secure a well-maintained and strategically located industrial space in a rapidly developing 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
    State
    New York
    Longitude
    -73.9237
    Latitude
    40.7081

    Comparable in this City

    • Value Estimation by Request
      40,000 SF

      206 Ingraham St

      Distribution properties • 40,000 SF
      206 Ingraham St, Brooklyn, NY 11237
      View Details
    • Value Estimation by Request

      555 Johnson Ave

      Restaurants
      555 Johnson Ave, Brooklyn, NY 11237
      View Details
    • Value Estimation by Request
      5,000 SF

      378 Troutman St

      Restaurants • 5,000 SF
      378 Troutman St, Brooklyn, NY 11237
      View Details
    • Value Estimation by Request
      6,148 SF

      194 Randolph St

      Distribution properties • 6,148 SF
      194 Randolph St, Brooklyn, NY 11237
      View Details
    • Value Estimation by Request
      9,417 SF

      195 Morgan Ave

      Distribution properties • 9,417 SF
      195 Morgan Ave, Brooklyn, NY 11237
      View Details
    • Value Estimation by Request

      434 Johnson Ave

      Distribution properties
      434 Johnson Ave, Brooklyn, NY 11237
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      43,972 SF

      Brooklyn Industrial/Commercial Facility For Sale

      Prime industrial/commercial property near Morgan Avenue L train station.
      121 Morgan Ave, Brooklyn, NY 11237
      View Details
    • Contact for pricing
      28,000 SF

      Brooklyn Warehouse with Secured Yard

      22,400 SF warehouse with 5,600 SF secured yard.
      335 Moffat St, Brooklyn, NY 11237
      View Details
    • Contact for pricing
      97,570 SF

      Brooklyn Industrial/Commercial Development Opportunity

      Industrial/commercial property near Morgan Avenue L train station.
      121 Morgan Ave, Brooklyn, NY 11237
      View Details
    • $990,000
      Pending

      Pre-war Multifamily Investment Opportunity

      Six 2-bedroom units near L & M trains.
      345 Grove St, Brooklyn, NY 11237
      View Details
    • $1,348,000
      3,300 SF

      Brooklyn Multi-Family Property in Bushwick

      Multi-family property in vibrant Bushwick with strong rental demand.
      1431 Hancock St, Brooklyn, NY 11237
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      37,500 SF

      Brooklyn Warehouse Space Available

      37,500 sq ft warehouse space for rent in Brooklyn.
      450 Johnson Ave, Brooklyn, NY 11237
      View Details
    • Contact for pricing

      East Williamsburg Warehouse/Creative Space

      Ground floor warehouse or creative space in East Williamsburg.
      206 Ingraham St, Brooklyn, NY 11237
      View Details
    • Contact for pricing
      32,500 SF

      East Williamsburg Industrial Warehouse Space

      32,500 SF industrial warehouse in East Williamsburg, Brooklyn.
      450 Johnson Ave, Brooklyn, NY 11237
      View Details
    • Contact for pricing

      East Williamsburg Warehouse Conversion

      Newly converted flex and office space in East Williamsburg.
      538 Johnson Ave, Brooklyn, NY 11237
      View Details
    • Contact for pricing

      Commercial Space with High Ceilings

      Versatile commercial space with high ceilings, kitchen, and drive-in gates.
      1115 Flushing Ave, Brooklyn, NY 11237
      View Details
    • Contact for pricing
      20,000 SF

      Brooklyn Warehouse Space Available

      10,000 SF warehouse space for rent in Brooklyn.
      348-350 Troutman St, Brooklyn, NY 11237
      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.
    1229 Flushing Ave
    Brooklyn, NY 11237
    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

    1229 Flushing Ave, Brooklyn, NY, 11237

    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!