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

    1723 Elm Ave Brooklyn, NY 11230-5306

    • Investment properties
    • 3,600 SF
    • 0.10 lot acres
    OFF-MARKET
    Last Sale
    Jun 08, 2022
    $2,450,000
    Value Estimations
    $2,410,000
    Show details
    Cap Rate Potential
    4.9%
    Investment properties
    Location Intelligence
    Property ID
    US63-2272437
    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

    • V L Medical PC / Physician
    • V I Medical Pc / Medical Clinic
    • Elm Medical PC / Physician
    • Choice of Care Medical / Medical Clinic
    • Dr. Viktoria Lemberikman / Physician

    Property Details for 1723 Elm Ave

    Year built
    1931
    Lot size
    0.10 lot acres
    Property size
    3,600 SF
    Zone code
    R7A
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    06737-0044
    APU
    67370044

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,660,000
      ML approach
      $2,680,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,180,000
      6.5%
      $2,010,000
      7%
      $1,865,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,212,000
      Market price range: $1.20M - $2.21M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,565,000
      Current use
      AUTO REPAIR, GARAGE
      $2,860,000
      Change: +83% Conversion: Difficult
      RETAIL STORES
      $2,770,000
      Change: +77% Conversion: Easy
      OFFICE BUILDING
      $1,980,000
      Change: +27% Conversion: Easy
      WAREHOUSE, STORAGE
      $1,805,000
      Change: +15% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9576
    Latitude
    40.6188
    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
    $36,889
    $10,800
    $352,800
    $363,600
    -
    $24,000
    $784,000
    $808,000

    Comparable in this City

    • Value Estimation
      $645,000
      1,972 SF

      801 Ave N Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 1,972 SF
      801 Ave N Ave, Brooklyn, NY 11230-5717
      View Details
    • Value Estimation
      $1,020,000
      3,620 SF

      1626 Coney Is Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,620 SF
      1626 Coney Is Ave, Brooklyn, NY 11230-3878
      View Details
    • Value Estimation
      $565,000
      1,870 SF

      1722 Ave M M

      OFFICE/RESIDENTIAL (MIXED USE) • 1,870 SF
      1722 Ave M M, Brooklyn, NY 11230-5304
      View Details
    • Value Estimation
      $970,000
      3,522 SF

      1907 Ave M M

      OFFICE/RESIDENTIAL (MIXED USE) • 3,522 SF
      1907 Ave M M, Brooklyn, NY 11230-6201
      View Details
    • Value Estimation
      $1,005,000
      3,663 SF

      1508 Ave J J

      OFFICE/RESIDENTIAL (MIXED USE) • 3,663 SF
      1508 Ave J J, Brooklyn, NY 11230-3708
      View Details
    • Value Estimation
      $1,440,000
      5,376 SF

      1278 Ocean Pkwy

      OFFICE/RESIDENTIAL (MIXED USE) • 5,376 SF
      1278 Ocean Pkwy, Brooklyn, NY 11230-5185
      View Details

    Similar Nearby for Sale

    • $1,995,000
      3,790 SF

      Brooklyn Mixed-Use Investment Opportunity

      Mixed-use property in Midwood with retail and residential components.
      1827 Coney Island Ave, Brooklyn, NY 11230
      View Details
    • $1,650,000
      3,300 SF

      Brooklyn Mixed-Use Property For Sale

      Prime Midwood mixed-use property with business potential.
      1129 Mcdonald Ave, Brooklyn, NY 11230
      View Details
    • $2,500,000
      3,300 SF

      Brooklyn Mixed-Use Income Property

      Three-story building with residential units and commercial space.
      1848 Coney Island Ave, Brooklyn, NY 11230
      View Details
    • $1,288,000
      2,746 SF

      Prime Midwood Commercial Building

      Corner commercial building in Midwood with income potential.
      1701 Elm Ave, Brooklyn, NY 11230
      View Details
    • $2,150,000
      3,600 SF

      Mixed-Use Building in Flatbush

      Mixed-use building with store and apartments in prime Flatbush location.
      1705 Foster Ave, Brooklyn, NY 11230
      View Details

    Similar Nearby for Lease

    • $28 SF/Yr
      1,200 SF

      Prime Kensington Office Space

      New Construction, 1200 sq ft Office
      623 H Ave, Brooklyn, NY 11230
      View Details
    • $50 SF/Yr
      475 SF

      Prime Brooklyn Office Space

      Renovated Office, 475 sq ft, Kings County
      1581 Mcdonald Ave, Brooklyn, NY 11230
      View Details
    • Contact for pricing
      1,267 SF

      Brooklyn Office Space For Rent

      Office space available in an elevatored building near transportation.
      2044 Ocean Ave, Brooklyn, NY 11230
      View Details
    • Contact for pricing
      1,500 SF

      Brooklyn Office Space For Rent

      Office space for rent, ideal for small businesses.
      829 E 15Th St, Brooklyn, NY 11230
      View Details
    • $52 SF/Yr
      900 SF

      Midwood Retail Space: Avenue M Gem

      Prime Midwood Retail, 900 sq ft, High Traffic
      202 Avenue M, Brooklyn, NY 11230
      View Details
    • $2,500 /Mo

      Renovated Office Space in Brooklyn

      Two-room office with waiting area, bathroom, and storage.
      1501 Ave J Unit, Brooklyn, NY 11230
      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.
    1723 Elm Ave
    Brooklyn, NY 11230-5306
    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!