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

    1359 37th St Brooklyn, NY 11218-3709

    • Investment properties
    • 3,600 SF
    • 0.10 lot acres
    OFF-MARKET
    Value Estimations
    $1,220,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3628135
    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

    • Williamsburg Leasing Auto World / Used Car Dealer
    • B M Messenger & Delivery Services / Courier Service
    • CityWide Security & Private Investigation (CWSP) / Security Guard Service / Private Investigator

    Property Details for 1359 37th St

    Year built
    2002
    Lot size
    0.10 lot acres
    Property size
    3,600 SF
    Zone code
    C8-2
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    05301-0037
    APU
    53010037

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,640,000
      Current use
      OFFICE BUILDING
      $1,980,000
      Change: +21% Conversion: Easy
      WAREHOUSE, STORAGE
      $1,805,000
      Change: +10% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9835
    Latitude
    40.641
    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
    $15,005
    $55,800
    $202,950
    $258,750
    -
    $124,000
    $451,000
    $575,000

    Comparable in this City

    • Value Estimation
      $810,000
      2,274 SF

      25 Church Ave

      STORE/OFFICE (MIXED USE) • 2,274 SF
      25 Church Ave, Brooklyn, NY 11218-3019
      View Details
    • Value Estimation
      $1,030,000
      3,135 SF

      3904 15th Ave

      STORE/OFFICE (MIXED USE) • 3,135 SF
      3904 15th Ave, Brooklyn, NY 11218-4410
      View Details
    • Value Estimation
      $5,515,000
      17,055 SF

      3605 13th Ave

      STORE/OFFICE (MIXED USE) • 17,055 SF
      3605 13th Ave, Brooklyn, NY 11218-3707
      View Details
    • Value Estimation
      $2,560,000
      8,000 SF

      202 Caton Ave

      STORE/OFFICE (MIXED USE) • 8,000 SF
      202 Caton Ave, Brooklyn, NY 11218-1617
      View Details
    • Value Estimation
      $1,085,000
      3,033 SF

      484 Coney Is Ave

      STORE/OFFICE (MIXED USE) • 3,033 SF
      484 Coney Is Ave, Brooklyn, NY 11218
      View Details
    • Value Estimation
      $1,785,000
      3,066 SF

      4208 18th Ave

      STORE/OFFICE (MIXED USE) • 3,066 SF
      4208 18th Ave, Brooklyn, NY 11218-5720
      View Details

    Similar Nearby for Sale

    • $6,250,000
      18,192 SF

      Mixed-Use Buildings in Kensington, Brooklyn

      Two mixed-use buildings with commercial and residential units near train.
      751 Mcdonald Ave, Brooklyn, NY 11218
      View Details
    • $1,175,000
      1,670 SF

      Brooklyn Mixed-Use Property For Sale

      Mixed-use property in Kensington, Brooklyn, with investment and development potential.
      306 Ditmas Ave, Brooklyn, NY 11218
      View Details
    • $1,190,000
      2,160 SF

      Brooklyn Mixed-Use Property For Sale

      Mixed-use property with residential and commercial spaces in desirable Kensington.
      302 Ditmas Ave, Brooklyn, NY 11218
      View Details
    • $1,499,000
      1,000 SF

      Ditmas Ave Multifamily Investment

      Prime Brooklyn Mixed-Use Building
      203 Ditmas Ave, Brooklyn, NY 11218
      View Details
    • $6,300,000
      17,300 SF

      Fort Hamilton Parkway Corner Building

      Mixed-use assemblage near subway with retail and residential units.
      3818 Fort Hamilton Pkwy, Brooklyn, NY 11218
      View Details
    • New
      $2,490,000
      9,096 SF

      Brooklyn Mixed-Use Investment Opportunity

      Mixed-use property in Kensington with commercial and residential units.
      755 Mcdonald Ave, Brooklyn, NY 11218
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,300 SF

      Ocean Parkway Office Space for Lease

      Prime Brooklyn Office, 2300 sq ft, Single Tenant
      265 Ocean Pkwy, Brooklyn, NY 11218
      View Details
    • Contact for pricing
      1,261 SF

      Retail Space Near Prospect Park

      Retail space with high visibility near Prospect Park South.
      39 Turner Pl, Brooklyn, NY 11218
      View Details
    • $36 SF/Yr
      945 SF

      Brooklyn Office Space: Beverley Road Gem

      Prime Brooklyn office, 945 sq ft, multiple tenants.
      131 Beverley Rd, Brooklyn, NY 11218
      View Details
    • Contact for pricing
      3,500 SF

      Retail Space on Ocean Parkway

      3,500 SF retail space available for lease.
      150 Ocean Pkwy, Brooklyn, NY 11218
      View Details
    • Contact for pricing
      2,800 SF

      Brooklyn Office/Retail Space Available

      Ground-floor and second-floor office/retail space for lease in Brooklyn.
      501 Ditmas Ave, Brooklyn, NY 11218
      View Details
    • $5,500 /Mo
      1,500 SF

      Retail Space in High-Traffic Area

      Single-story retail space with great signage and transportation access.
      1111 Church Ave, Brooklyn, NY 11218
      View Details
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    1359 37th St
    Brooklyn, NY 11218-3709
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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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