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

    124 Pennsylvania Ave Brooklyn, NY 11207

    • Commercial real estate
    • 2,120 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-6270648
    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

    • Commercial real estate

    Property Details for 124 Pennsylvania Ave

    Year built
    1901
    Property size
    2,120 SF
    Property type
    Commercial real estate

    Description

    This vacant, 2-unit, mixed-use property at 124 Pennsylvania Avenue in Brooklyn, NY (zip code 11207) presents a compelling redevelopment opportunity. The 2,120 square foot building, constructed in 1901, sits on a 2,500 square foot lot and boasts an impressive 7,880 square feet of air rights. Currently zoned R7A/C2-4, it offers significant potential for value-add improvements and increased equity. The asking price is $1,350,000 ($675,000 per unit, $636.79 per square foot). The property features a shared driveway and a detached two-car garage. Its convenient location near the C subway line and the upcoming Broadway Junction Transport Interchange redevelopment (scheduled for 2027) promises substantial future growth and appreciation. The property's designation as an Opportunity Zone and MIH (Mandatory Inclusionary Housing) provides potential tax benefits and incentives. This live-work property is ideal for developers or business owners seeking a high-return investment in a rapidly developing neighborhood.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.89668711876
    Latitude
    40.674878324167

    Comparable in this City

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      Brooklyn Mixed-Use Property For Sale

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      Brooklyn Four-Family Brick Building

      Four-unit building in Brooklyn with expansion potential and strong rental income.
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    • $1,399,000
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      Corner Building in Good Condition

      Mixed-use building featuring two apartments with three bedrooms each.
      640 Blake Ave, Brooklyn, NY 11207
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    • $799,999
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      Brooklyn Two-Family Townhouse Investment

      Legal two-family townhouse in East New York, Brooklyn.
      1074 Barbey St, Brooklyn, NY 11207
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    • $799,000
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      Brooklyn Two-Family Vacant Property

      Legal two-family property in Brooklyn, delivered vacant and centrally located.
      486 Vermont St, Brooklyn, NY 11207
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    Similar Nearby for Sale

    • $1,050,000
      Pending

      Brooklyn Quadruplex Investment Opportunity

      Legal four-family brick property in Brooklyn, fully tenanted and income-producing.
      279 Van Siclen Ave, Brooklyn, NY 11207
      View Details
    • $930,000
      Pending

      Brooklyn Mixed-Use Property For Sale

      Mixed-use property featuring retail space and renovated residential unit.
      427 New Lots Ave, Brooklyn, NY 11207
      View Details
    • $1,279,000
      Pending

      Brooklyn Four-Family Brick Building

      Four-unit building in Brooklyn with expansion potential and strong rental income.
      797 Vermont St, Brooklyn, NY 11207
      View Details
    • $1,399,000
      2,926 SF

      Corner Building in Good Condition

      Mixed-use building featuring two apartments with three bedrooms each.
      640 Blake Ave, Brooklyn, NY 11207
      View Details
    • $799,999
      0.04 Acres

      Brooklyn Two-Family Townhouse Investment

      Legal two-family townhouse in East New York, Brooklyn.
      1074 Barbey St, Brooklyn, NY 11207
      View Details
    • $799,000
      Pending

      Brooklyn Two-Family Vacant Property

      Legal two-family property in Brooklyn, delivered vacant and centrally located.
      486 Vermont St, Brooklyn, NY 11207
      View Details

    Similar Nearby for Lease

    • $2,600 /Mo

      Brooklyn Multifamily Property for Rent

      Multifamily property available for rent in Brooklyn, NY.
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    • $2,200 /Mo

      Renovated 2-Bedroom Apartment for Rent

      Newly renovated 2-bedroom apartment near transit and shopping.
      771 Hendrix St, Brooklyn, NY 11207
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      Three Bedroom Apartment For Rent

      Three-bedroom, one-bathroom apartment available for rent.
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      Renovated Duplex with Garden Access

      Newly renovated 4-bedroom duplex with modern amenities and private garden.
      237 Covert St, Brooklyn, NY 11207
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      Newly Renovated Brooklyn Walk-Up Unit

      Renovated 3-bedroom unit with hardwood floors in Brooklyn.
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      Spacious Apartment in East New York

      Large 3-bedroom, 2-bathroom apartment near transportation and amenities.
      349 Pennsylvania Ave, Brooklyn, NY 11207
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    124 Pennsylvania Ave
    Brooklyn, NY 11207
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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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