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
    Back to Search
    Property profile & analytics

    5901 7Th Ave Brooklyn, NY 11220

    • Investment properties
    • 4,841 SF
    • 0.04 lot acres
    For Lease
    View listing
    $37 SF/Yr
    Last Sale
    Apr 04, 2024
    $3,500,000
    Value Estimations
    $3,395,000
    Cap Rate Potential
    3.8%
    Investment properties
    Location Intelligence
    Property ID
    US63-5609548
    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

    • Eyes On 8th / Eye Care Center

    Property Details for 5901 7Th Ave

    Year built
    1922
    Lot size
    0.04 lot acres
    Property size
    4,841 SF
    Zone code
    R7A
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    00866-0010
    APU
    8660010

    Description

    This exceptional 4,841-square-foot office space, located at 5901 7th Avenue Cellar in Brooklyn, New York, presents a unique opportunity for businesses seeking a prominent location. Situated in Kings County (Brooklyn), this single-tenant property boasts a newly renovated 1,600 square foot area, offering modern amenities and a comfortable workspace. The building itself is a three-story structure built in 1922, and sits on a 1,614-square-foot lot. Its convenient location on 7th Avenue near 59th Street provides easy access to a variety of essential services and amenities, including numerous restaurants, supermarkets, and pharmacies. The area also benefits from excellent public transportation, making commuting a breeze for employees and clients alike. This is an ideal space for a business seeking a high-visibility location in a thriving Brooklyn neighborhood. The property's total square footage is 4,841 square feet, offering ample room for expansion and customization to suit specific business needs. Don't miss this chance to establish your business in this prime location. The zip code is 11220.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,500,000
      ML approach
      $3,500,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,073,000
      Market price range: $1.62M - $3.45M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $2,305,000
      Current use
      AUTO REPAIR, GARAGE
      $3,845,000
      Change: +67% Conversion: Difficult
      RETAIL STORES
      $3,730,000
      Change: +62% Conversion: Easy
      WAREHOUSE, STORAGE
      $2,425,000
      Change: +5% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -74.011
    Latitude
    40.6372
    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
    $28,797
    $6,750
    $405,000
    $411,750
    -
    $15,000
    $900,000
    $915,000

    Comparable in this City

    • Value Estimation
      $340,000
      3,664 SF

      6821 4th Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,664 SF
      6821 4th Ave, Brooklyn, NY 11220-5312
      View Details
    • Value Estimation
      $325,000
      3,415 SF

      6809 4th Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,415 SF
      6809 4th Ave, Brooklyn, NY 11220-5312
      View Details
    • Value Estimation
      $305,000
      3,300 SF

      5719 8th Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,300 SF
      5719 8th Ave, Brooklyn, NY 11220-3912
      View Details
    • Value Estimation
      $305,000
      3,300 SF

      5806 8th Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,300 SF
      5806 8th Ave, Brooklyn, NY 11220-3915
      View Details
    • Value Estimation
      $440,000
      5,340 SF

      4918 5th Ave, Unit 4

      OFFICE/RESIDENTIAL (MIXED USE) • 5,340 SF
      4918 5th Ave, Brooklyn, NY 11220-1907
      View Details
    • Value Estimation
      $315,000
      3,300 SF

      6217 5th Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,300 SF
      6217 5th Ave, Brooklyn, NY 11220-4611
      View Details

    Similar Nearby for Sale

    • $968,000
      1,335 SF

      Brooklyn Commercial Condo Investment Opportunity

      Commercial condo in Sunset Park with tenant and tax abatement.
      867 53Rd St, Brooklyn, NY 11220
      View Details
    • $1,659,000
      2,199 SF

      Sunset Park Commercial Condo Unit

      Commercial condo in Sunset Park, currently leased as a senior center.
      867 53Rd St, Brooklyn, NY 11220
      View Details
    • $1,050,000
      1,439 SF

      Sunset Park Commercial Condo Unit

      Commercial condo in Sunset Park with tenant in place.
      867 53Rd St, Brooklyn, NY 11220
      View Details
    • $3,100,000

      Sunset Park Mixed-Use Gem

      Prime Brooklyn location, high-income potential.
      5405 5Th Ave, Brooklyn, NY 11220
      View Details
    • $2,799,000
      4,000 SF

      Brooklyn Mixed-Use Investment Opportunity

      Five apartments and a storefront in Sunset Park.
      5125 6Th Ave, Brooklyn, NY 11220
      View Details
    • $2,280,000
      3,872 SF

      Brooklyn Mixed-Use Investment Opportunity

      Sunset Park mixed-use property near transportation, shopping, and restaurants.
      5505 4Th Ave, Brooklyn, NY 11220
      View Details

    Similar Nearby for Lease

    • $19 SF/Yr
      84,500 SF

      Brooklyn Industrial Warehouse Space

      Sunset Park warehouse, multiple spaces available
      5800 2Nd Ave, Brooklyn, NY 11220
      View Details
    • Contact for pricing
      650 SF

      Prime Brooklyn Office Space

      650 sq ft, Ground Floor, Kings County
      245 48Th St, Brooklyn, NY 11220
      View Details
    • Contact for pricing
      3,000 SF

      Retail Space in New Development

      Retail space for rent in a new Brooklyn development.
      5102 5Th Ave, Brooklyn, NY 11220
      View Details
    • Contact for pricing
      52,000 SF

      Sunset Park Warehouse/Distribution Space

      Prewar building in Sunset Park, ideal for warehousing/distribution.
      5801-5823 2Nd Ave, Brooklyn, NY 11220
      View Details
    • $6,800 /Mo
      1,000 SF

      Built-Out Restaurant/Bar For Rent

      Restaurant/bar with 4AM liquor license in busy Brooklyn corridor.
      4515 5Th Ave, Brooklyn, NY 11220
      View Details
    • Contact for pricing
      5,000 SF

      New Retail Space Available

      Brand new retail space suitable for national retailers.
      5005 5Th Ave, Brooklyn, NY 11220
      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.
    5901 7Th Ave
    Brooklyn, NY 11220
    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.