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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    121 Greenpoint Ave Brooklyn, NY 11222-6581

    • Investment properties
    • 6,500 SF
    • 0.05 lot acres
    OFF-MARKET
    Value Estimations
    $2,680,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3966279
    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

    • Max Mini Reaal Estate Inc. / Real Estate Agency
    • Gregory Gugala, CPA / Accounting Firm / Tax Preparation
    • Herbalife products. Weight Loss Center / Physician
    • amber sclar, New York Realty Minimax Inc / Real Estate Agency
    • Divorce Express LLC / Law Firm

    Property Details for 121 Greenpoint Ave

    Year built
    1928
    Lot size
    0.05 lot acres
    Property size
    6,500 SF
    Zone code
    R6A
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    02558-0059
    APU
    25580059

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,935,000
      6.5%
      $3,630,000
      7%
      $3,370,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $4,355,000
      Current use
      INDUSTRIAL (GENERAL)
      $3,690,000
      Change: -15% Conversion: Moderate
      WAREHOUSE, STORAGE
      $3,595,000
      Change: -17% Conversion: Difficult
      OFFICE BUILDING
      $3,580,000
      Change: -18% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9553
    Latitude
    40.7303
    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
    $15,807
    $12,600
    $1,471,950
    $1,484,550
    -
    $28,000
    $3,271,000
    $3,299,000

    Comparable in this City

    • Value Estimation
      $2,385,000
      5,700 SF

      134 Norman Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 5,700 SF
      134 Norman Ave, Brooklyn, NY 11222-2940
      View Details
    • Value Estimation
      $1,830,000
      4,275 SF

      132 Franklin St

      OFFICE/RESIDENTIAL (MIXED USE) • 4,275 SF
      132 Franklin St, Brooklyn, NY 11222-2026
      View Details
    • Value Estimation
      $1,360,000
      3,150 SF

      150 Franklin St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,150 SF
      150 Franklin St, Brooklyn, NY 11222-2043
      View Details
    • Value Estimation
      $13,155,000
      43,120 SF

      1164 Manhattan Ave, Unit 1174

      OFFICE/RESIDENTIAL (MIXED USE) • 43,120 SF
      1164 Manhattan Ave, Brooklyn, NY 11222-7248
      View Details
    • Value Estimation
      $1,285,000
      3,920 SF

      730 Manhattan Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,920 SF
      730 Manhattan Ave, Brooklyn, NY 11222-7430
      View Details
    • Value Estimation
      $2,310,000
      5,500 SF

      1021 Manhattan Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 5,500 SF
      1021 Manhattan Ave, Brooklyn, NY 11222-6555
      View Details

    Similar Nearby for Sale

    • $4,300,000
      6,500 SF

      Greenpoint Waterfront Vacant Multi-Family Building

      6,500 SF vacant building near East River and Williamsburg border.
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    • $895,000
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      Greenpoint Multifamily Investment Opportunity

      Two Brooklyn properties with development potential and existing income.
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    • $4,500,000
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      Greenpoint Mixed-Use Investment Opportunity

      Income-producing mixed-use property in prime Greenpoint location.
      688 Manhattan Ave, Brooklyn, NY 11222
      View Details
    • $3,600,000
      0.04 Acres

      Brooklyn Mixed-Use Investment Opportunity

      Income-producing, updated mixed-use property in Greenpoint. Potential for additional development.
      1021 Manhattan Ave, Brooklyn, NY 11222
      View Details
    • $3,600,000
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      Greenpoint Mixed-Use Investment

      7-Unit Building, High ROI Potential
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    • $2,150,000
      4,500 SF

      Renovated Greenpoint Multifamily Investment Property

      Renovated 6-family building in prime Greenpoint, Brooklyn. Two vacant units.
      46 Sutton St, Brooklyn, NY 11222
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    Similar Nearby for Lease

    • $48 SF/Yr
      20,000 SF

      Greenpoint Warehouse: 20,000 SF

      Prime Greenpoint industrial space; ideal for creative uses.
      58 West St, Brooklyn, NY 11222
      View Details
    • Contact for pricing
      10,000 SF

      Brooklyn Warehouse with Crane

      10,000 SF warehouse with 23' ceilings and crane.
      237 Russell St, Brooklyn, NY 11222
      View Details
    • Contact for pricing
      2,750 SF

      Greenpoint Retail Space for Rent

      Corner retail space in Greenpoint, Brooklyn near NYC Ferry.
      1139 Manhattan Ave, Brooklyn, NY 11222
      View Details
    • New
      Contact for pricing

      NY, Brooklyn - Manhattan Ave

      Workspaces, services and support to help you work better in Downtown Alamo Corporate Center
      750 Manhattan Ave, New York, NY 11222
      View Details
    • $8,000 /Mo
      3,300 SF

      Brooklyn Flex Space For Lease

      Versatile 3,330 sq ft flex space in Greenpoint, Brooklyn.
      148 India St, Brooklyn, NY 11222
      View Details
    • Contact for pricing
      1,700 SF

      Brooklyn Retail Space with Outdoor Seating

      Repositioned retail space in prime Brooklyn location with outdoor seating.
      36 Franklin St, Brooklyn, NY 11222
      View Details
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    121 Greenpoint Ave
    Brooklyn, NY 11222-6581
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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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