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    Property profile & analytics

    858 29th St Brooklyn, NY 11210-2927

    • Office buildings
    • 31,875 SF
    • 0.28 lot acres
    OFF-MARKET
    Value Estimations
    $720,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-6174998
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Brooklyn Preventive Services / Mental Health Service
    • Sarah Yo / Social Worker / Disability Services
    • Justin Leider / Social Worker
    • Kirsten Cooper / Social Worker
    • Lauren Glassman / Social Worker

    Property Details for 858 29th St

    Year built
    2010
    Lot size
    0.28 lot acres
    Property size
    31,875 SF
    Zone code
    R4
    Property type
    Office buildings
    APN
    07574-0070
    APU
    75740070

    Description

    This exceptional five-story medical office building, located at 858 East 29th Street in Brooklyn, New York, offers 36,000 square feet of space. Situated on a substantial 70-acre lot in the vibrant Midwood neighborhood, this property boasts a highly desirable location, just steps from the Brooklyn College campus and at the crossroads of Flatbush and Nostrand Avenues. The building features six suites, with a minimum divisible space of 1,552 square feet and a maximum contiguous space of 11,877 square feet. Currently, 35,918 square feet are vacant, presenting a significant opportunity for medical professionals. The building includes 10 parking spaces and elevators for convenient access. Its R4 zoning designation allows for a variety of medical uses. The property's convenient location offers excellent transit options, with proximity to the #2 and #5 subway lines and numerous bus routes, ensuring easy access for patients and staff. The property's address is 858 E 29th St, Brooklyn, NY 11210, and its APN is 7574-70. Kings County is the location of this prime medical office opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $715,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9488
    Latitude
    40.63
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $425,802
    $477,000
    $3,801,150
    $4,278,150
    -
    $1,060,000
    $8,447,000
    $9,507,000

    Comparable in this City

    • Value Estimation
      $680,000
      23,686 SF

      1895 Flatbush Ave

      PROFESSIONAL BUILDING • 23,686 SF
      1895 Flatbush Ave, Brooklyn, NY 11210-4925
      View Details
    • Value Estimation
      $710,000
      21,778 SF

      2557 Nostrand Ave

      OFFICE BUILDING (MULTI-STORY) • 21,778 SF
      2557 Nostrand Ave, Brooklyn, NY 11210
      View Details
    • Value Estimation
      $755,000
      26,000 SF

      2233 Nostrand Ave

      OFFICE BUILDING (MULTI-STORY) • 26,000 SF
      2233 Nostrand Ave, Brooklyn, NY 11210-3045
      View Details
    • Value Estimation
      $1,345,000
      2,750 SF

      3009 Glenwood Rd

      PROFESSIONAL BUILDING • 2,750 SF
      3009 Glenwood Rd, Brooklyn, NY 11210-2641
      View Details
    • Value Estimation
      $595,000
      11,000 SF

      2604 Nostrand Ave, Unit 2612

      OFFICE BUILDING (MULTI-STORY) • 11,000 SF
      2604 Nostrand Ave, Brooklyn, NY 11210-4601
      View Details
    • Value Estimation
      $465,000
      5,846 SF

      1845 Flatbush Ave, Unit 1851

      OFFICE BUILDING (MULTI-STORY) • 5,846 SF
      1845 Flatbush Ave, Brooklyn, NY 11210-4840
      View Details

    Similar Nearby for Sale

    • $1,149,000
      3,300 SF

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    • $1,200,000
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      Brooklyn Mixed-Use Corner Property

      Mixed-use building with parking near transportation and shopping.
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    • $1,449,000
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      Brooklyn Medical/Office Building with Parking

      Vacant medical/office building with parking in prime Brooklyn location.
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    • New
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      Brooklyn Commercial Unit For Sale

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    • $989,000
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      Prime Brooklyn Mixed-Use Building

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    Similar Nearby for Lease

    • Contact for pricing
      750 SF

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      750 SF Executive Suite - Kings County
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    • $36 SF/Yr
      4,000 SF

      East Flatbush Warehouse - 4,000 SF

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    • Contact for pricing
      50,000 SF

      Nostrand Avenue Office Space

      Prime Flatbush Office, Flexible Suites
      2255 Nostrand Ave, Brooklyn, NY 11210
      View Details
    • $3,500 /Mo
      1,200 SF

      Renovated Office Space For Rent

      Renovated office space with open floor plan and natural light.
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      View Details
    • New
      $4,806 /Mo

      Brooklyn Commercial Unit For Rent

      Commercial unit near Brooklyn College, restaurants, and public transportation.
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      View Details
    • $8,500 /Mo
      3,500 SF

      Luxury Building Retail Space Available

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      View Details
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    Brooklyn, NY 11210-2927
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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.

    More about this property
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