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

    1518 Bergen St Brooklyn, NY 11213-1659

    • Investment properties
    • 3,572 SF
    • 0.02 lot acres
    OFF-MARKET
    Last Sale
    May 28, 2025
    $1,100,000
    Value Estimations
    $980,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-5771009
    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

    • Flamingo Car Service / Car Rental Facility
    • Gemini Floor Services / Carpet & Flooring Store / Hardware & Home Improvement
    • Gemini Thermo HVAC / HVAC Service / General Contractor

    Property Details for 1518 Bergen St

    Year built
    1899
    Lot size
    0.02 lot acres
    Property size
    3,572 SF
    Zone code
    R6
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    01354-0111
    APU
    13540111

    Description

    This exceptional 900-square-foot creative office space at 1518 Bergen Street in Brooklyn, NY 11213, presents a unique opportunity for a single tenant. The property is classified as both retail and office, offering versatile usage options suitable for various dry uses. The open layout allows for flexible configuration to meet diverse business needs. The space boasts abundant natural light, creating a bright and inviting atmosphere. Inset lighting throughout ensures ample illumination. A convenient two-piece bathroom is included. Beyond the interior, the property offers valuable backyard access, providing additional outdoor space. Its location is highly desirable, with easy access to the A and C subway lines, ensuring convenient commuting for employees and clients. Furthermore, the property's proximity to numerous playgrounds and various conveniences enhances its appeal and provides a pleasant work environment. This single-tenant space is ready for immediate occupancy.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,057,000
      Market price range: $1.06M - $1.86M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,405,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9331
    Latitude
    40.675
    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
    $2,216
    $10,680
    $81,720
    $92,400
    -
    $178,000
    $1,362,000
    $1,540,000

    Comparable in this City

    • Value Estimation
      $715,000
      2,700 SF

      246 Rochester Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 2,700 SF
      246 Rochester Ave, Brooklyn, NY 11213-3942
      View Details
    • Value Estimation
      $1,310,000
      5,191 SF

      1378 President St

      OFFICE/RESIDENTIAL (MIXED USE) • 5,191 SF
      1378 President St, Brooklyn, NY 11213-4335
      View Details
    • Value Estimation
      $1,340,000
      5,423 SF

      1539 Dean St

      OFFICE/RESIDENTIAL (MIXED USE) • 5,423 SF
      1539 Dean St, Brooklyn, NY 11213-0484
      View Details
    • Value Estimation
      $505,000
      2,016 SF

      408 Utica Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 2,016 SF
      408 Utica Ave, Brooklyn, NY 11213-5803
      View Details
    • Value Estimation by Request
      1,760 SF

      199 Utica Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 1,760 SF
      199 Utica Ave, Brooklyn, NY 11213-2938
      View Details
    • Value Estimation
      $1,840,000
      6,804 SF

      187 Utica Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 6,804 SF
      187 Utica Ave, Brooklyn, NY 11213-2936
      View Details

    Similar Nearby for Sale

    • $1,899,999
      3,280 SF

      Brooklyn Four-Family Income Property

      Crown Heights four-family home, ideal for investors or homeowners.
      800 Crown St, Brooklyn, NY 11213
      View Details
    • $1,600,000

      Crown Heights Mixed-Use Building

      Four-story mixed-use building in Crown Heights with upside potential.
      1284 Sterling Pl, Brooklyn, NY 11213
      View Details
    • $3,750,000

      Crown Heights Multifamily Investment

      12 Units, Updated, Prime Location
      243 Troy Ave, Brooklyn, NY 11213
      View Details
    • $1,650,000
      Pending

      Crown Heights Mixed-Use Building

      Mixed-use building with garage near St. John's Park.
      139 Schenectady Ave, Brooklyn, NY 11213
      View Details
    • $1,650,000

      Crown Heights Mixed-Use Building

      Mixed-use building with garage across from St. John's Park.
      139 Schenectady Ave, Brooklyn, NY 11213
      View Details
    • $3,200,000
      5,040 SF

      Crown Heights Mixed-Use Building

      Mixed-use building with commercial storefront and five apartments in Brooklyn.
      401 Troy Ave, Brooklyn, NY 11213
      View Details

    Similar Nearby for Lease

    • $40 SF/Yr
      4,400 SF

      Crown Heights Office Space

      Prime Brooklyn office, retail space available.
      259 Schenectady Ave, Brooklyn, NY 11213
      View Details
    • $75,000

      Brooklyn School Building For Lease

      20,000 SF school building or flex space for lease.
      1173 Bergen St, Brooklyn, NY 11213
      View Details
    • Contact for pricing
      10,800 SF

      Brooklyn Retail Space For Rent

      New construction retail space ideal for daycare in Brooklyn.
      1539 Dean St, Brooklyn, NY 11213
      View Details
    • Contact for pricing
      5,000 SF

      Brooklyn Warehouse Ready For Rent

      5,000 SF Brooklyn warehouse space, ready for move-in.
      1529 Dean St, Brooklyn, NY 11213
      View Details
    • Contact for pricing
      2,000 SF

      Crown Heights Retail Space Available

      Retail space in high-traffic Crown Heights location for rent.
      249 Utica Ave, Brooklyn, NY 11213
      View Details
    • Contact for pricing
      9,879 SF

      Brooklyn Retail Space For Rent

      Retail space available near apartments and subway station in Brooklyn.
      1560 Fulton St, Brooklyn, NY 11213
      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.
    1518 Bergen St
    Brooklyn, NY 11213-1659
    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!