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

    148 39Th St Brooklyn, NY 11232

    • Commercial real estate
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-0843606
    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

    • Hanna Schlang / Physical Therapist
    • Jensen Henry, MD / Surgical Center / Doctor
    • Peter K. Sculco, MD / Orthopedic Surgeon
    • Cowtan & Tout / Corporate Office
    • Gbolabo Sokunbi, MD / Orthopedic Surgeon

    Property Details for 148 39Th St

    Property type
    Commercial real estate

    Description

    This exceptional 6,250-square-foot single-tenant office space is ideally situated in Brooklyn's vibrant Sunset Park neighborhood. The property, located at 148 39th Street, boasts a highly convenient location between 1st and 2nd Avenues, offering easy access to public transportation. Commuters will appreciate the proximity to the N, R, and D subway lines at the 36th Street station, as well as several bus routes including the B37, B35, and B70. The building's strategic location places it within a thriving commercial district, surrounded by a diverse range of established businesses. Nearby prominent tenants include Porsche Brooklyn, Starbucks, Volvo Cars Brooklyn, Whole Foods Market Warehouse, Costco Wholesale, Petco, McDonald's, Domino's Pizza, The UPS Store, Chipotle Mexican Grill, Pawz Dog Boots, Ashley Store, Industry City Food Hall, and Design Within Reach Brooklyn Outlet, ensuring high visibility and a strong sense of community. This Kings County property presents a unique opportunity for businesses seeking a well-connected and established location in a rapidly growing area of Brooklyn. The property is classified as an office space and is available as a single-tenant occupancy. The address is 148 39th Street, Brooklyn, New York, 11232.

    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
    -74.0116869
    Latitude
    40.6556614

    Comparable in this City

    • $16 SF/Yr
      1,500 SF

      Sunset Park Office Space For Lease

      1,500 sq ft Office, High Traffic Area
      745 39Th St 3, Brooklyn, NY 11232
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    • $6,250 /Mo
      1,500 SF

      Brooklyn Office Space For Rent

      Office space with wide frontage, reception, and built-out offices.
      726 5Th Ave, Brooklyn, NY 11232
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    • $32 SF/Yr
      2,200 SF

      Prime Greenwood Heights Commercial Space

      2200 SF Office/Retail - Immediate Occupancy
      225 34Th St 1, Brooklyn, NY 11232
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    • $18 SF/Yr
      2,200 SF

      Brooklyn Retail/Office Opportunity

      2,200 SF, Two Spaces Available
      225 34Th St, Brooklyn, NY 11232
      View Details
    • $2,000 /Mo
      1,500 SF

      Brooklyn Office Space For Lease

      Commercial office space for lease in Sunset Park/Park Slope area.
      745 39Th St, Brooklyn, NY 11232
      View Details
    • $24 SF/Yr
      2,000 SF

      Prime Brooklyn Office Space

      2,000 SF Office, Greenwood Heights
      225 34Th St, Brooklyn, NY 11232
      View Details

    Similar Nearby for Sale

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    • Contact for pricing
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      Prime Brooklyn Office Building

      8,000 SF Vacant Office, Value-Add
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    • $1,420,000
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      Brooklyn Commercial Condos For Sale

      Newly built commercial condos suitable for various businesses in prime location.
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      Prime Brooklyn Commercial Land

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    Similar Nearby for Lease

    • $16 SF/Yr
      1,500 SF

      Sunset Park Office Space For Lease

      1,500 sq ft Office, High Traffic Area
      745 39Th St 3, Brooklyn, NY 11232
      View Details
    • $6,250 /Mo
      1,500 SF

      Brooklyn Office Space For Rent

      Office space with wide frontage, reception, and built-out offices.
      726 5Th Ave, Brooklyn, NY 11232
      View Details
    • $25 SF/Yr
      105,766 SF

      Industry City Creative Spaces

      Versatile Office & Industrial
      220 36Th St, Brooklyn, NY 11232
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    • Contact for pricing
      8,500 SF

      Sunset Park Office Space Available

      8,500 SF office space for rent in Sunset Park.
      4201-4223 1St Ave, Brooklyn, NY 11232
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    • $3,978 /Mo
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      Brooklyn Office Space with Amenities

      Renovated office space in Sunset Park with modern amenities.
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    • $32 SF/Yr
      2,200 SF

      Prime Greenwood Heights Commercial Space

      2200 SF Office/Retail - Immediate Occupancy
      225 34Th St 1, Brooklyn, NY 11232
      View Details
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    148 39Th St
    Brooklyn, NY 11232
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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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