Your AI Navigator in Commercial Real Estate
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

    1261 Myrtle Ave Brooklyn, NY 11221

    • Gas stations
    • 375 SF
    • 0.04 lot acres
    OFF-MARKET
    Value Estimations
    $350,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-5597158
    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

    • Gas stations

    Property Details for 1261 Myrtle Ave

    Year built
    1980
    Lot size
    0.04 lot acres
    Property size
    375 SF
    Zone code
    R6
    Property type
    Gas stations
    APN
    03217-0058
    APU
    32170058

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $340,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $474,000
      Market price range: $474k - $1.67M

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9284
    Latitude
    40.6979
    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
    $2,549
    $6,600
    $9,120
    $15,720
    -
    $110,000
    $152,000
    $262,000

    Comparable in this City

    • Value Estimation
      $275,000
      200 SF

      238 Van Buren St

      GAS STATION • 200 SF
      238 Van Buren St, Brooklyn, NY 11221
      View Details
    • Value Estimation
      $345,000
      400 SF

      1190 Putnam Ave

      GAS STATION • 400 SF
      1190 Putnam Ave, Brooklyn, NY 11221
      View Details
    • Value Estimation
      $295,000
      675 SF

      540 Van Buren St

      GAS STATION • 675 SF
      540 Van Buren St, Brooklyn, NY 11221-3012
      View Details
    • Value Estimation
      $345,000
      0.06 Acres

      25 Cedar St

      GAS STATION • 0.06 Acres
      25 Cedar St, Brooklyn, NY 11221
      View Details
    • Value Estimation
      $335,000
      2,720 SF

      452 Central Ave

      GAS STATION • 2,720 SF
      452 Central Ave, Brooklyn, NY 11221-5038
      View Details
    • Value Estimation
      $260,000
      360 SF

      916 Dekalb Ave, Unit A

      GAS STATION • 360 SF
      916 Dekalb Ave, Brooklyn, NY 11221-2046
      View Details

    Similar Nearby for Sale

    • $1,850,000
      0.05 Acres

      Brooklyn Vacant Lot For Sale

      Commercial vacant lot in a busy Brooklyn residential area.
      Monroe St, Brooklyn, NY 11221
      View Details
    • $100,000
      4,056 SF

      Established Restaurant in Bedstuy, Brooklyn

      Restaurant for sale in a high-traffic Brooklyn neighborhood.
      256 Marcus Garvey Blvd, Brooklyn, NY 11221
      View Details
    • $1,690,000
      0.04 Acres

      Mixed-Use Building in Bedford Stuyvesant

      Mixed-use building with retail and residential units in Brooklyn.
      226 Marcus Garvey Blvd, Brooklyn, NY 11221
      View Details
    • $140,000
      2,700 SF

      Prime Brooklyn Restaurant Space

      DeKalb Ave eatery, high traffic area
      872 Dekalb Ave, Brooklyn, NY 11221
      View Details
    • $1,790,000
      4,125 SF

      Brooklyn Mixed-Use Investment Opportunity

      Mixed-use property in Bushwick with storefronts and residential units.
      378 Central Ave, Brooklyn, NY 11221
      View Details
    • $150,000

      Brooklyn Juice Bar Opportunity

      Established juice bar business for sale in Bushwick, Brooklyn.
      852 Bushwick Ave, Brooklyn, NY 11221
      View Details

    Similar Nearby for Lease

    • $6,500 /Mo
      2,300 SF

      Brooklyn Retail/Office Space Available

      2,300 sqft retail/office space in high-traffic Brooklyn location.
      1478 Broadway, Brooklyn, NY 11221
      View Details
    • $360 /Mo
      3,200 SF

      Bushwick Retail Space Available

      Prime Bushwick location, 3100 sq ft retail space.
      1065 Broadway, Brooklyn, NY 11221
      View Details
    • Contact for pricing
      600 SF

      Retail or Office Space Available

      600 sq ft retail/office space for lease in Brooklyn.
      217 Marcus Garvey Blvd, Brooklyn, NY 11221
      View Details
    • Contact for pricing
      1,000 SF

      Brooklyn Retail Space Available

      Second generation grocer and restaurant space near Myrtle Avenue.
      984 Broadway, Brooklyn, NY 11221
      View Details
    • Contact for pricing
      8,500 SF

      Prime Retail Space Available

      8,500 SF retail space with iconic glass corner.
      750 Lexington Ave, Brooklyn, NY 11221
      View Details
    • $3,000 /Mo
      500 SF

      Retail Space with Full Basement

      400 SF retail space with full basement for rent.
      547 Knickerbocker Ave, Brooklyn, NY 11221
      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.
    1261 Myrtle Ave
    Brooklyn, NY 11221
    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.