Add Listing
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

    149 Franklin St Brooklyn, NY 11222-1849

    • Investment properties
    • 8,314 SF
    • 0.05 lot acres
    OFF-MARKET
    Last Sale
    Feb 09, 2021
    $4,850,000
    Value Estimations
    $5,025,000
    Show details
    Cap Rate Potential
    5.6%
    Investment properties
    Location Intelligence
    Property ID
    US63-3334522
    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

    • M & R Electrical Contracting / Electrical Service / General Contractor
    • DAX Real Estate / Real Estate Agency
    • 718 389 2159 / Building Supply / Electrical Service

    Property Details for 149 Franklin St

    Year built
    1931
    Lot size
    0.05 lot acres
    Property size
    8,314 SF
    Zone code
    R6B
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    02539-0020
    APU
    25390020

    Description

    This exceptional 2,300 square foot single-tenant executive office space is available for lease at 149 Franklin Street in the vibrant Brooklyn, New York neighborhood. Located in Kings County, this property offers a unique opportunity for businesses seeking a modern and efficient workspace. The space boasts a generous 15-foot ceiling height, providing a sense of spaciousness and allowing for creative design flexibility. The entire 2,300 square feet is currently vacant, ready for immediate occupancy and customization to suit your specific needs. The property is classified as both retail and office space, offering versatility for a range of business types. Its single-tenant occupancy ensures privacy and control over the entire premises. The convenient location in Brooklyn, New York, with the address 149 Franklin Street, zip code 11222, provides easy access to transportation and local amenities. This is an ideal space for a company seeking a prominent and functional office location in a thriving area of New York City. The property's classification as an executive office space suggests a high-quality build and finish, suitable for businesses seeking a professional image. The entire building's square footage is 2,300 square feet, meaning the entire space is available for lease. This presents a rare opportunity to secure a substantial and well-located office space in a highly desirable area. Contact us today to schedule a viewing.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,375,000
      ML approach
      $5,400,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $5,030,000
      6.5%
      $4,645,000
      7%
      $4,310,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,081,000
      Market price range: $4.61M - $7.20M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $5,570,000
      Current use
      AUTO REPAIR, GARAGE
      $6,605,000
      Change: +19% Conversion: Difficult
      RETAIL STORES
      $6,400,000
      Change: +15% Conversion: Easy
      INDUSTRIAL (GENERAL)
      $4,720,000
      Change: -15% Conversion: Moderate
      WAREHOUSE, STORAGE
      $4,595,000
      Change: -17% Conversion: Difficult
      OFFICE BUILDING
      $4,575,000
      Change: -18% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9582
    Latitude
    40.7315
    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
    $19,543
    $45,000
    $1,033,200
    $1,078,200
    -
    $100,000
    $2,296,000
    $2,396,000

    Comparable in this City

    • Value Estimation
      $2,385,000
      5,700 SF

      134 Norman Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 5,700 SF
      134 Norman Ave, Brooklyn, NY 11222-2940
      View Details
    • Value Estimation
      $1,830,000
      4,275 SF

      132 Franklin St

      OFFICE/RESIDENTIAL (MIXED USE) • 4,275 SF
      132 Franklin St, Brooklyn, NY 11222-2026
      View Details
    • Value Estimation
      $1,360,000
      3,150 SF

      150 Franklin St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,150 SF
      150 Franklin St, Brooklyn, NY 11222-2043
      View Details
    • Value Estimation
      $13,155,000
      43,120 SF

      1164 Manhattan Ave, Unit 1174

      OFFICE/RESIDENTIAL (MIXED USE) • 43,120 SF
      1164 Manhattan Ave, Brooklyn, NY 11222-7248
      View Details
    • Value Estimation
      $1,285,000
      3,920 SF

      730 Manhattan Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,920 SF
      730 Manhattan Ave, Brooklyn, NY 11222-7430
      View Details
    • Value Estimation
      $2,310,000
      5,500 SF

      1021 Manhattan Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 5,500 SF
      1021 Manhattan Ave, Brooklyn, NY 11222-6555
      View Details

    Similar Nearby for Sale

    • New
      $3,995,000
      6,500 SF

      Greenpoint Waterfront Vacant Mixed-Use Building

      6,500 SF vacant building near East River and Williamsburg.
      53 Franklin St, Brooklyn, NY 11222
      View Details
    • $3,600,000
      3,300 SF

      Brooklyn Mixed-Use Income Property

      Updated mixed-use property in Greenpoint, Brooklyn. Opportunity Zone.
      1021 Manhattan Ave, Brooklyn, NY 11222
      View Details
    • New
      $3,995,000
      0.04 Acres

      Greenpoint Mixed-Use Investment Opportunity

      Mixed-use property in prime Brooklyn location with income potential.
      688 Manhattan Ave, Brooklyn, NY 11222
      View Details
    • $5,300,000

      Greenpoint Mixed-Use Townhouse Opportunity

      2-unit residence over store, ideal for investors/end-users.
      212 Franklin St, Brooklyn, NY 11222
      View Details
    • $3,995,000

      Greenpoint Mixed-Use Investment Opportunity

      Mixed-use property in prime Greenpoint location with income potential.
      688 Manhattan Ave, Brooklyn, NY 11222
      View Details
    • $3,400,000
      Pending

      Mixed-Use Building Across McGolrick Park

      Mixed-use building in Greenpoint, Brooklyn, with repositioning opportunity.
      221 Nassau Ave, Brooklyn, NY 11222
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      13,504 SF

      Greenpoint Avenue Parking Lot

      Brooklyn industrial land, ample parking.
      215 Greenpoint Ave Brooklyn, NY 11222, Brooklyn, NY 11222
      View Details
    • Contact for pricing

      NY, Brooklyn - Manhattan Ave

      Workspaces, services and support to help you work better in NY, Brooklyn - Manhattan Ave
      750 Manhattan Ave, New York, NY 11222
      View Details
    • Contact for pricing

      Brooklyn Parking Lot for Rent

      Gated parking lot in Greenpoint, Brooklyn, accommodates over 20 vehicles.
      215 Greenpoint Ave, Brooklyn, NY 11222
      View Details
    • Contact for pricing

      East Williamsburg Creative Office Spaces

      Bright, versatile office spaces for makers and innovators in Brooklyn.
      15 Division Pl, Brooklyn, NY 11222
      View Details
    • Contact for pricing

      Greenpoint Warehouse/Studio/Venue Space

      20,000 SF Greenpoint space ideal for various creative uses.
      58 West St, Brooklyn, NY 11222
      View Details
    • Contact for pricing

      Versatile Brooklyn Space for Rent

      Bright, massive space suitable for retail, office, or industrial use.
      236 Greenpoint Ave, Brooklyn, NY 11222
      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.
    149 Franklin St
    Brooklyn, NY 11222-1849
    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.
    Sign Up Successful!
    You now have access to more from Realmo!