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    Property profile & analytics

    1481 Nostrand Ave Brooklyn, NY 11226-4221

    • Investment properties
    • 2,800 SF
    • 0.05 lot acres
    OFF-MARKET
    Last Sale
    Jun 04, 2025
    $1,225,000
    Value Estimations
    $1,230,000
    Show details
    Cap Rate Potential
    5%
    Investment properties
    Location Intelligence
    Property ID
    US63-0865001
    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

    • BlueBird Home Care / Speech Pathologist / Home Health Care Service
    • New Hope Day Care Inc / Daycare Center

    Property Details for 1481 Nostrand Ave

    Year built
    1931
    Lot size
    0.05 lot acres
    Property size
    2,800 SF
    Zone code
    R6
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    04884-0060
    APU
    48840060

    Description

    This exceptional mixed-use building, located at 1481 Nostrand Avenue in Brooklyn's Flatbush neighborhood, presents a compelling investment opportunity. Priced at $1,200,000, this 2,800 square foot property boasts a 6.58% cap rate and a strong net operating income (NOI) of $78,960. Currently 100% occupied with three units – two residential apartments (each a 2-bedroom, 1-bathroom unit, one with a washer/dryer) and one retail space – all tenants are on signed leases with verifiable, on-time payment history. The retail space is occupied by a home health employment staffing agency. Both residential units underwent renovations within the last ten years, and the hallway was updated last year, ensuring the building is in excellent condition. The building's low maintenance is further enhanced by the low annual gas heat bill (approximately $2,500), with 40% covered by the retail tenant. Significant development potential exists, with over 2,000 square feet of unused air rights (2.43 FAR allows for 4,860 square feet of buildable space), making this property ideal for both investors seeking strong cash flow and end-users looking to combine business and residential living. The property's prime location, a block from the bustling Church Avenue 2/5 train station on a major retail corridor, ensures high visibility and accessibility. This turn-key investment offers immediate returns and long-term growth potential in a thriving Brooklyn neighborhood.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,235,000
      ML approach
      $1,240,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,035,000
      6.5%
      $955,000
      7%
      $890,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $750,000
      Market price range: $751k - $1.47M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,010,000
      Current use
      OFFICE BUILDING
      $1,540,000
      Change: +53% Conversion: Easy
      WAREHOUSE, STORAGE
      $1,405,000
      Change: +39% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9492
    Latitude
    40.6502
    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
    $6,843
    $12,240
    $41,460
    $53,700
    -
    $204,000
    $691,000
    $895,000

    Comparable in this City

    • Value Estimation
      $1,000,000
      3,300 SF

      898 Rogers Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,300 SF
      898 Rogers Ave, Brooklyn, NY 11226-8263
      View Details
    • Value Estimation
      $1,030,000
      4,400 SF

      1678 Nostrand Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 4,400 SF
      1678 Nostrand Ave, Brooklyn, NY 11226-6406
      View Details
    • Value Estimation
      $715,000
      3,640 SF

      2417 Tilden Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,640 SF
      2417 Tilden Ave, Brooklyn, NY 11226-5013
      View Details
    • Value Estimation
      $850,000
      4,320 SF

      2424 Bedford Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 4,320 SF
      2424 Bedford Ave, Brooklyn, NY 11226
      View Details
    • Value Estimation
      $650,000
      3,133 SF

      1820 Church Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,133 SF
      1820 Church Ave, Brooklyn, NY 11226-3706
      View Details
    • Value Estimation
      $730,000
      3,708 SF

      1406 Cortelyou Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 3,708 SF
      1406 Cortelyou Rd, Brooklyn, NY 11226-5614
      View Details

    Similar Nearby for Sale

    • $1,280,000
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      Brooklyn Mixed-Use Investment Opportunity

      Two commercial properties with retail and residential units for sale.
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    • $1,149,000
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      Brooklyn Mixed-Use Building For Sale

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    • $890,000
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    • $1,200,000
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      Vacant Mixed-Use Brooklyn Opportunity

      Fully vacant mixed-use building with two apartments and one commercial store.
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    • New
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      Brooklyn Mixed-Use Investment Opportunity

      Mixed-use property with vacant commercial unit on active corridor.
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      Brooklyn Mixed-Use Property For Sale

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    Similar Nearby for Lease

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      Prime Brooklyn Retail Space

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      Prime Bedford Ave Redevelopment Opportunity

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    • $3,900 /Mo
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      Brooklyn Retail Space on Nostrand

      Prime Brooklyn retail space with high visibility and foot traffic.
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      15,000 SF

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      1,579 SF

      Flatbush Avenue Retail Space

      Retail space available on Flatbush Avenue in Brooklyn.
      794 Flatbush Ave, Brooklyn, NY 11226
      View Details
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    1481 Nostrand Ave
    Brooklyn, NY 11226-4221
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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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