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    Property profile & analytics

    2121 Westbury Ct Brooklyn, NY 11225

    • Retail residential properties
    • 87,552 SF
    • 0.41 lot acres
    For Lease
    View listing
    $57 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-1193351
    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

    • Structural Modeling & Designs 3D / Internet Marketing Service / Architect

    Property Details for 2121 Westbury Ct

    Year built
    1928
    Lot size
    0.41 lot acres
    Property size
    87,552 SF
    Zone code
    R7-1
    Property type
    Retail residential properties
    APN
    05026-0241
    APU
    50260241

    Description

    This exceptional retail opportunity is located at 2121 Westbury Court in Brooklyn, New York, within Kings County, zip code 11225. The property is a six-story building constructed in 1928, boasting a total gross leasable area (GLA) of 5,619 square feet. The building comprises one structure with six retail suites situated on the ground floor, currently featuring a diverse mix of tenants including a barber shop, cupcake shop, tailor, and women's boutique. A total of 544 square feet of retail space is currently vacant, presenting an immediate opportunity for a new tenant. The building also houses 66 apartments, contributing to the high volume of foot traffic in the area. Its prime location, just one block from Prospect Park, ensures significant daytime pedestrian activity, creating a vibrant and desirable retail environment. The building is classified as Class C and includes an elevator for convenient access to all floors. This property offers a unique blend of established businesses and immediate expansion potential, making it an ideal investment for a variety of retail ventures. The available space totals 629 square feet.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $18,879,000
      Market price range: $18.9M - $50.3M

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9606
    Latitude
    40.6569
    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
    $173,447
    $202,500
    $1,184,850
    $1,387,350
    -
    $450,000
    $2,633,000
    $3,083,000

    Comparable in this City

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      $18,055,000
      65,000 SF

      941 Washington Ave, Unit 52

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      View Details
    • Value Estimation
      $15,455,000
      224,082 SF

      626 Flatbush Ave

      STORES & APARTMENTS • 224,082 SF
      626 Flatbush Ave, Brooklyn, NY 11225-1055
      View Details
    • Value Estimation
      $3,255,000
      11,440 SF

      856 Nostrand Ave

      STORES & APARTMENTS • 11,440 SF
      856 Nostrand Ave, Brooklyn, NY 11225-1565
      View Details
    • Value Estimation
      $1,190,000
      2,763 SF

      877 Nostrand Ave

      STORES & APARTMENTS • 2,763 SF
      877 Nostrand Ave, Brooklyn, NY 11225-2305
      View Details
    • Value Estimation
      $1,550,000
      2,600 SF

      1250 Nostrand Ave

      STORES & APARTMENTS • 2,600 SF
      1250 Nostrand Ave, Brooklyn, NY 11225-3843
      View Details
    • Value Estimation
      $3,230,000
      6,876 SF

      1082 Nostrand Ave

      STORES & APARTMENTS • 6,876 SF
      1082 Nostrand Ave, Brooklyn, NY 11225-5109
      View Details

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    2121 Westbury Ct
    Brooklyn, NY 11225
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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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