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

    1698 Nostrand Ave Brooklyn, NY 11226-6408

    • Investment properties
    • 3,540 SF
    • 0.05 lot acres
    OFF-MARKET
    Last Sale
    Jan 05, 2024
    $1,155,478
    Value Estimations
    $1,155,000
    Show details
    Cap Rate Potential
    6.8%
    Investment properties
    Location Intelligence
    Property ID
    US63-0827824
    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

    • Elegant Glow Day Spa / Spa & Massage Center / Skin Care Clinic
    • African Queen Boutique / African Goods Store
    • Elite Studio Barber & Salon / Barber Shop

    Property Details for 1698 Nostrand Ave

    Year built
    1905
    Lot size
    0.05 lot acres
    Property size
    3,540 SF
    Zone code
    R6
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    05173-0023
    APU
    51730023

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,155,000
      ML approach
      $1,155,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,310,000
      6.5%
      $1,210,000
      7%
      $1,125,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $949,000
      Market price range: $949k - $1.86M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,275,000
      Current use
      WAREHOUSE, STORAGE
      $1,775,000
      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
    40.6443
    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
    $9,393
    $11,460
    $66,540
    $78,000
    -
    $191,000
    $1,109,000
    $1,300,000

    Comparable in this City

    • Value Estimation
      $905,000
      3,800 SF

      3010 Beverley Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 3,800 SF
      3010 Beverley Rd, Brooklyn, NY 11226-5512
      View Details
    • Value Estimation
      $710,000
      3,477 SF

      1906 Church Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,477 SF
      1906 Church Ave, Brooklyn, NY 11226-3708
      View Details
    • Value Estimation
      $915,000
      3,840 SF

      2816 Church Ave, Unit 4

      OFFICE/RESIDENTIAL (MIXED USE) • 3,840 SF
      2816 Church Ave, Brooklyn, NY 11226-4184
      View Details
    • Value Estimation
      $555,000
      2,660 SF

      1469 Nostrand Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 2,660 SF
      1469 Nostrand Ave, Brooklyn, NY 11226-4221
      View Details
    • Value Estimation
      $1,055,000
      4,470 SF

      1839 Nostrand Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 4,470 SF
      1839 Nostrand Ave, Brooklyn, NY 11226-7922
      View Details
    • Value Estimation
      $835,000
      4,200 SF

      952 Flatbush Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 4,200 SF
      952 Flatbush Ave, Brooklyn, NY 11226-6492
      View Details

    Similar Nearby for Sale

    • $1,150,000
      Pending

      Brooklyn Duplex: Investment Opportunity

      Brooklyn duplex for sale, excellent investment opportunity in prime location.
      82 Lott St, Brooklyn, NY 11226
      View Details
    • $2,790,000
      2,000 SF

      Prime Brooklyn Mixed-Use Building

      Six-unit multifamily, 2,000 sq ft, excellent investment.
      239 28Th St, Brooklyn, NY 11226
      View Details
    • $15,500,000
      11,828 SF

      2-story Mixed Use Property For Sale

      2-story Mixed Use Property For Sale
      2281 Church Avenue, Brooklyn, NY 11226
      View Details
    • $1,500,000

      Nostrand Ave Mixed-Use Investment

      Prime Brooklyn Mixed-Use, High Potential
      1736 Nostrand Ave, Brooklyn, NY 11226
      View Details
    • $1,235,000
      3,300 SF

      Brooklyn Mixed-Use Investment Opportunity

      Mixed-use property with vacant commercial unit on active corridor.
      1752 Nostrand Ave, Brooklyn, NY 11226
      View Details
    • $1,200,000
      3,420 SF

      Vacant Mixed-Use Brooklyn Opportunity

      Fully vacant mixed-use building with two apartments and one commercial store.
      950 Rogers Ave, Brooklyn, NY 11226
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      180,000 SF

      Prime Bedford Ave Redevelopment Opportunity

      180,000 SF Retail/Office Space, 4 Suites Available
      2360 Bedford Ave, Brooklyn, NY 11226
      View Details
    • Contact for pricing
      1,766 SF

      Prime Brooklyn Retail Space

      1,766 SF Mixed-Use Retail Available
      350 Clarkson Ave, Brooklyn, NY 11226
      View Details
    • Contact for pricing
      15,000 SF

      Church Ave Executive Office Space

      15,000 SF Executive Office Building in Brooklyn
      2222 Church Ave, Brooklyn, NY 11226
      View Details
    • $3,900 /Mo
      871 SF

      Brooklyn Retail Space on Nostrand

      Prime Brooklyn retail space with high visibility and foot traffic.
      1512 Nostrand Ave, Brooklyn, NY 11226
      View Details
    • Contact for pricing
      2,782 SF

      Flatbush Avenue Retail Space

      Retail space available on Flatbush Avenue in Brooklyn.
      794 Flatbush Ave, Brooklyn, NY 11226
      View Details
    • Contact for pricing
      500 SF

      Retail Spaces in High-Traffic Area

      Retail spaces available in a dense residential Brooklyn neighborhood.
      833 Flatbush Ave, Brooklyn, NY 11226
      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.
    1698 Nostrand Ave
    Brooklyn, NY 11226-6408
    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!