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    1302 83Rd St Brooklyn, NY 11228

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    1302 83Rd St Brooklyn, NY 11228

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    • Office properties & Spaces
    • 1,000 SF
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    Cap Rate Potential
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    • Office properties & Spaces

    Property Details for 1302 83Rd St

    Property size
    1,000 SF
    Property type
    Office properties & Spaces

    Description

    This 1,000 square foot commercial office space, located at 1302 83rd Street, Brooklyn, NY 11228, presents a unique investment opportunity in the heart of the prime Dyker Heights neighborhood. Currently planned for healthcare use, this versatile property offers significant potential for a variety of businesses, including adult care facilities, medical offices, nursing homes, professional offices, or after-school tutoring centers. The building boasts 11-15 foot ceilings and sits on an 8,400 square foot lot. Expansion is possible, with the potential to connect to the adjacent property, increasing the total square footage to 2,300. The property benefits from a common charge that includes water and a significant 25-year tax abatement, making it a financially attractive proposition. This Kings County location offers easy access to major transportation routes and is situated within a thriving and densely populated residential area. The property's adaptability and prime location make it an ideal investment for savvy entrepreneurs and investors seeking a strong return. The asking price is $598,800. Serious inquiries only.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings (Brooklyn)
    State
    New York
    Longitude
    -74.012
    Latitude
    40.6155

    Comparable in this City

    • Value Estimation
      $585,000
      3,243 SF

      269 Bay 8th St, Unit 1

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    • Value Estimation by Request
      2,960 SF

      7502-7504 13Th Ave

      Restaurants • 2,960 SF
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    • Value Estimation by Request
      1,122 SF

      8405 13th Avebb

      OFFICE (GENERAL) • 1,122 SF
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      1,783 SF

      76 Battery Ave

      Medical Office Space • 1,783 SF
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    • Value Estimation by Request
      1,113 SF

      8405 13th Aveaa

      OFFICE (GENERAL) • 1,113 SF
      8405 13th Aveaa, Brooklyn, NY 11228
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    • Value Estimation by Request

      703 86Th St

      Medical Office Space
      703 86Th St, Brooklyn, NY 11228
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      1,000 SF

      Dyker Heights Commercial Space

      1,000 SF commercial space in Dyker Heights neighborhood.
      1302 83Rd St, Brooklyn, NY 11228
      View Details
    • New
      $3,780,000
      12,399 SF

      Brooklyn Mixed-Use Investment Opportunity

      Mixed-use building with commercial and residential income in prime location.
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    • $2,380,000

      Mixed-Use Corner Property in Brooklyn

      Income-generating mixed-use property in Dyker Heights with residential and commercial spaces.
      7302 13Th Ave, Brooklyn, NY 11228
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      1,300 SF

      New Dyker Heights Commercial Space

      New 1,300 SF commercial space in Dyker Heights.
      1302 83Rd St, Brooklyn, NY 11228
      View Details
    • $2,100,000

      Renovated Mixed-Use Building, Dyker Heights

      Fully renovated, leased mixed-use building in Dyker Heights, tax protected.
      8302 13Th Ave, Brooklyn, NY 11228
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      Brooklyn Retail/Office Space Available

      Prime Dyker Heights location suitable for retail or office use.
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    • $2,400 /Mo
      1,310 SF

      Brooklyn Office Space For Rent

      1310 sq ft office space in Dyker Heights.
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      2,000 SF

      Turnkey Restaurant in Dyker Heights

      Restaurant space with full basement and excellent neighborhood amenities.
      7504 13Th Ave, Brooklyn, NY 11228
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      Retail Space on 13th Avenue

      Retail space for rent with high ceilings and frontage.
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    Brooklyn, NY 11228
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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.

    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.

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    1302 83Rd St, Brooklyn, NY, 11228

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