Sign Up Successful!
You now have access to more from Realmo!
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

    1940 Bay Rdg Pkwy Brooklyn, NY 11204-5733

    • Apartment buildings
    • 4,818 SF
    • 0.05 lot acres
    OFF-MARKET
    Last Sale
    Jun 01, 2020
    $1,260,000
    Value Estimations
    $1,240,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2784463
    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

    • Apartment buildings

    Property Details for 1940 Bay Rdg Pkwy

    Year built
    1931
    Lot size
    0.05 lot acres
    Property size
    4,818 SF
    Zone code
    R5
    Property type
    Apartment buildings
    APN
    06228-0023
    APU
    62280023

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,210,000
      ML approach
      $1,235,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $975,000
      Market price range: $635k - $975k

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $830,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9931
    Latitude
    40.6113
    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
    $17,336
    $5,850
    $384,750
    $390,600
    -
    $13,000
    $855,000
    $868,000

    Comparable in this City

    • Value Estimation
      $3,430,000
      64,800 SF

      6309 Bay Pkwy, Unit 82

      APARTMENT HOUSE (5+ UNITS) • 64,800 SF
      6309 Bay Pkwy, Brooklyn, NY 11204-3255
      View Details
    • Value Estimation
      $2,555,000
      48,600 SF

      1365 7th St, Unit 60

      APARTMENT HOUSE (5+ UNITS) • 48,600 SF
      1365 7th St, Brooklyn, NY 11204-4867
      View Details
    • Value Estimation
      $1,795,000
      32,000 SF

      1636 43rd St, Unit 39

      APARTMENT HOUSE (5+ UNITS) • 32,000 SF
      1636 43rd St, Brooklyn, NY 11204-1080
      View Details
    • Value Estimation
      $1,895,000
      33,600 SF

      1641 65th St

      APARTMENT HOUSE (5+ UNITS) • 33,600 SF
      1641 65th St, Brooklyn, NY 11204-3657
      View Details
    • Value Estimation
      $630,000
      10,100 SF

      1328 7th St

      APARTMENT HOUSE (5+ UNITS) • 10,100 SF
      1328 7th St, Brooklyn, NY 11204-4871
      View Details
    • Value Estimation
      $965,000
      4,950 SF

      1725 73rd St

      APARTMENT HOUSE (5+ UNITS) • 4,950 SF
      1725 73rd St, Brooklyn, NY 11204-5664
      View Details

    Similar Nearby for Sale

    • $5,600,000

      Borough Park Development Site Package

      Two four-family buildings with development potential in Borough Park.
      1768 55Th St, Brooklyn, NY 11204
      View Details
    • $3,100,000
      12,800 SF

      Bensonhurst Brooklyn Multifamily Investment Property

      Well-maintained 16-unit building near Bay Parkway with strong income.
      1448 West 8Th St, Brooklyn, NY 11204
      View Details
    • $1,899,000

      Vacant Multifamily Building in Brooklyn

      Fully vacant, semi-detached 6-family building in prime Brooklyn location.
      6107 23Rd Ave, Brooklyn, NY 11204
      View Details
    • $2,140,000

      Bensonhurst Three-Family Brick Home

      Three-story, semi-detached brick home with finished basement in Bensonhurst.
      1813 Bay Ridge Ave, Brooklyn, NY 11204
      View Details
    • $235,000

      Brooklyn Co-op Awaiting Vision

      2-bedroom co-op in prime Brooklyn location, near transportation and shopping.
      1961 65 3B, Brooklyn, NY 11204
      View Details
    • $295,000

      Bensonhurst Co-op with Low Fees

      Spacious one-bedroom co-op in prime Bensonhurst location.
      1513 W 7Th St, Brooklyn, NY 11204
      View Details

    Similar Nearby for Lease

    • $2,500 /Mo

      Two Bedroom Apartment For Rent

      Two bedroom apartment for rent in a convenient location.
      2355 65Th St, Brooklyn, NY 11204
      View Details
    • $3,300 /Mo

      Renovated Bensonhurst Unit For Rent

      Spacious, newly renovated 3-bedroom unit in prime Bensonhurst area.
      2129 71St St, Brooklyn, NY 11204
      View Details
    • $43 SF/Yr
      1,104 SF

      Bensonhurst Office Space For Lease

      Prime Bensonhurst Office: 1,104 sq ft
      1600 5Th St, Brooklyn, NY 11204
      View Details
    • $2,500 /Mo
      4,000 SF

      Brooklyn Retail Space For Rent

      Retail space available for lease in Brooklyn, New York.
      2010 Bay Ridge Pkwy, Brooklyn, NY 11204
      View Details
    • Contact for pricing
      500 SF

      Renovated Office Space Available

      Ground floor, corner office space in professional building.
      2276 65Th St, Brooklyn, NY 11204
      View Details
    • $4,500 /Mo
      750 SF

      Prime Boro Park Retail Space

      Retail space for rent on bustling 16th Ave.
      4410 16Th Ave, Brooklyn, NY 11204
      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.
    1940 Bay Rdg Pkwy
    Brooklyn, NY 11204-5733
    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.