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    Property profile & analytics

    450 Nostrand Ave Brooklyn, NY 11216

    • Investment properties
    • 4,000 SF
    • 0.05 lot acres
    For Lease
    View listing
    $50 SF/Yr
    Value Estimations
    $460,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-4252488
    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

    • Erica's Home / Apartment Building
    • The REP Music Cafe / Cafe
    • PrintWithMe Print Kiosk at Brooklyn Perk Coffee / Print Shop / Copy Shop
    • Sabine's Hallway Natural Hair Salon / Hair Salon / Beauty Supply Store
    • The Woven Wool / Hair Salon

    Property Details for 450 Nostrand Ave

    Year built
    1900
    Lot size
    0.05 lot acres
    Property size
    4,000 SF
    Zone code
    R6A
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    01827-0057
    APU
    18270057

    Description

    This exceptional 1,200 square foot retail space, located at 450 Nostrand Avenue in Kings County, presents a unique opportunity for a discerning tenant. Previously occupied by a cafe, the property is offered in turnkey condition, meaning it's ready for immediate occupancy. The space boasts a versatile layout suitable for a variety of retail uses, making it an ideal location for a wide range of businesses. All qualified uses will be considered. A significant advantage is the inclusion of a large backyard area, offering potential for outdoor seating, storage, or other supplementary uses depending on the tenant's needs. The asking rent is $5,000 per month. This property is situated in a vibrant and accessible location within Kings County, offering excellent visibility and foot traffic. The turnkey condition minimizes upfront investment and allows for a rapid start to operations. The spacious layout and the added benefit of the backyard provide ample room for creativity and business expansion. This is a rare opportunity to secure a well-maintained, ready-to-use retail space in a desirable Brooklyn location. Don't miss out on this chance to establish your business in a thriving community. Contact us today to schedule a viewing and explore the possibilities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $385,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $537,000
      Market price range: $300k - $537k

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9505
    Latitude
    40.6836
    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
    $8,797
    $17,100
    $434,340
    $451,440
    -
    $38,000
    $965,200
    $1,003,200

    Comparable in this City

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    • Value Estimation
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      3,000 SF

      577 Nostrand Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,000 SF
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    • Value Estimation
      $355,000
      4,356 SF

      281 Nostrand Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 4,356 SF
      281 Nostrand Ave, Brooklyn, NY 11216-5585
      View Details
    • Value Estimation
      $335,000
      2,280 SF

      704 Dekalb Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 2,280 SF
      704 Dekalb Ave, Brooklyn, NY 11216-1004
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    • Value Estimation
      $2,790,000
      5,589 SF

      44 Decatur St, Unit 46

      OFFICE/RESIDENTIAL (MIXED USE) • 5,589 SF
      44 Decatur St, Brooklyn, NY 11216-2504
      View Details
    • Value Estimation
      $1,765,000
      3,640 SF

      1318 Fulton St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,640 SF
      1318 Fulton St, Brooklyn, NY 11216-5241
      View Details

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    Brooklyn, NY 11216
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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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