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

    1277 Flushing Ave Brooklyn, NY 11237-2302

    • Auto shops
    • 880 SF
    • 0.02 lot acres
    OFF-MARKET
    Last Sale
    Feb 02, 2024
    Value Estimations
    $355,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2208510
    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

    • Bushwick Triangle / Lounge

    Property Details for 1277 Flushing Ave

    Year built
    1990
    Lot size
    0.02 lot acres
    Property size
    880 SF
    Zone code
    M1-1
    Property type
    Auto shops
    APN
    02996-0046
    APU
    29960046

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $420,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $291,000
      Market price range: $71.5k - $291k

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $700,000
      Current use
      RETAIL STORES
      $680,000
      Change: -3% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9222
    Latitude
    40.7093
    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
    $11,420
    $18,000
    $116,100
    $134,100
    -
    $40,000
    $258,000
    $298,000

    Comparable in this City

    • Value Estimation
      $345,000
      0.06 Acres

      38 Morgan Ave

      AUTO REPAIR, GARAGE • 0.06 Acres
      38 Morgan Ave, Brooklyn, NY 11237-1605
      View Details
    • Value Estimation
      $345,000
      0.06 Acres

      42 Morgan Ave

      AUTO REPAIR, GARAGE • 0.06 Acres
      42 Morgan Ave, Brooklyn, NY 11237-1605
      View Details
    • Value Estimation
      $425,000
      5,250 SF

      356 Stanhope St

      AUTO REPAIR, GARAGE • 5,250 SF
      356 Stanhope St, Brooklyn, NY 11237-4434
      View Details
    • Value Estimation
      $835,000
      34,680 SF

      521 Johnson Ave

      AUTO REPAIR, GARAGE • 34,680 SF
      521 Johnson Ave, Brooklyn, NY 11237
      View Details
    • Value Estimation
      $495,000
      2,800 SF

      428 Weirfield St

      AUTO REPAIR, GARAGE • 2,800 SF
      428 Weirfield St, Brooklyn, NY 11237-6114
      View Details
    • Value Estimation
      $630,000
      9,105 SF

      180 Varick Ave

      AUTO REPAIR, GARAGE • 9,105 SF
      180 Varick Ave, Brooklyn, NY 11237-1029
      View Details

    Similar Nearby for Sale

    • $2,998,000
      10,880 SF

      Brooklyn Mixed-Use Redevelopment Opportunity

      Six-story building in Bushwick/Ridgewood with redevelopment potential.
      102 Wyckoff Ave, Brooklyn, NY 11237
      View Details
    • $1,999,999
      Pending

      Brooklyn Three-Family Property with Garage

      Three-family property in Bushwick with a four-car garage and backyard.
      994 Hart St, Brooklyn, NY 11237
      View Details
    • $2,600,000
      4,208 SF

      Brooklyn Multifamily and Retail Property

      Corner property with residential, commercial, and garage units near transit.
      283 Wyckoff Ave, Brooklyn, NY 11237
      View Details
    • Contact for pricing
      35,000 SF

      Williamsburg Mixed-Use Loft Building

      High-NOI, 26-Unit Investment Opportunity
      47 Thames St, Williamsburg Brooklyn, NY 11237
      View Details
    • $299,000
      5,250 SF

      Turnkey Restaurant Business Opportunity

      Fully operational restaurant for sale in a prime Brooklyn location.
      324 Suydam St, Brooklyn, NY 11237
      View Details
    • Contact for pricing
      6,900 SF

      Brooklyn Commercial Building with Loft

      6,900 SF commercial building with high ceilings and loft.
      1 Knickerbocker Ave, Brooklyn, NY 11237
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      500 SF

      Retail Space in Brooklyn Available

      500 SF retail space for rent in Brooklyn, NY.
      221 Irving Ave, Brooklyn, NY 11237
      View Details
    • Contact for pricing
      2,200 SF

      Retail Space in Brooklyn Available

      Retail property available for rent in Brooklyn, New York.
      1427 Dekalb Ave, Brooklyn, NY 11237
      View Details
    • Contact for pricing
      4,430 SF

      Bushwick Venue and Performance Space

      41,000 SF venue in the heart of Bushwick's creative scene.
      427 Troutman St, Brooklyn, NY 11237
      View Details
    • Contact for pricing
      500 SF

      Brooklyn Retail Space in Bushwick

      Retail space available in Brooklyn's Bushwick neighborhood.
      347 Linden St, Brooklyn, NY 11237
      View Details
    • Contact for pricing
      10,000 SF

      Spacious Retail Space with Skylights

      10,000 SF retail space featuring skylights and roll-up gates.
      421 Troutman St, Brooklyn, NY 11237
      View Details
    • Contact for pricing
      2,458 SF

      Retail Space on Knickerbocker Avenue

      Retail space available on busy Knickerbocker Avenue in Brooklyn.
      427-431 Knickerbocker Ave, Brooklyn, NY 11237
      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.
    1277 Flushing Ave
    Brooklyn, NY 11237-2302
    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.