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

    2 Flatbush Ave Brooklyn, NY 11217-1102

    • Retail space
    • 426 SF
    • 0.13 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-0973724
    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

    • Retail space

    Property Details for 2 Flatbush Ave

    Lot size
    0.13 lot acres
    Property size
    426 SF
    Zone code
    R8X
    Property type
    Retail space
    APN
    01169-1102
    APU
    11691102

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9711
    Latitude
    40.6758
    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
    $5,286
    $6,966
    $51,300
    $58,266
    -
    $15,481
    $114,000
    $129,481

    Comparable in this City

    • Value Estimation
      $8,700,000
      17,130 SF

      329 State St, Unit STRE

      RETAIL STORES (PERSONAL SERVICES) • 17,130 SF
      329 State St, Brooklyn, NY 11217-1727
      View Details
    • Value Estimation
      $730,000
      1,328 SF

      613 Baltic St

      RETAIL STORES (PERSONAL SERVICES) • 1,328 SF
      613 Baltic St, Brooklyn, NY 11217-3174
      View Details
    • Value Estimation
      $885,000
      2,500 SF

      309 Bergen St

      RETAIL STORES (PERSONAL SERVICES) • 2,500 SF
      309 Bergen St, Brooklyn, NY 11217-1909
      View Details
    • Value Estimation
      $600,000
      1,348 SF

      745 Fulton St, Unit 2

      RETAIL STORES (PERSONAL SERVICES) • 1,348 SF
      745 Fulton St, Brooklyn, NY 11217-1518
      View Details
    • Value Estimation
      $525,000
      1,028 SF

      19 7th Avecomm

      RETAIL STORES (PERSONAL SERVICES) • 1,028 SF
      19 7th Avecomm, Brooklyn, NY 11217-5259
      View Details
    • Value Estimation
      $750,000
      1,729 SF

      751 Fulton St, Unit COM

      RETAIL STORES (PERSONAL SERVICES) • 1,729 SF
      751 Fulton St, Brooklyn, NY 11217
      View Details

    Similar Nearby for Sale

    • $3,500,000
      3,140 SF

      Brooklyn Mixed-Use Investment Opportunity

      Mixed-use building with commercial space and residential units in Brooklyn.
      55 4Th Ave, Brooklyn, NY 11217
      View Details
    • $2,900,000
      3,220 SF

      Mixed-Use Building Value-Add Potential

      Three-story mixed-use building with retail and residential units.
      191 Bond St, Brooklyn, NY 11217
      View Details
    • $3,500,000
      0.03 Acres

      Brooklyn Mixed-Use Building For Sale

      Mixed-use property in prime location with income potential.
      55 4Th Ave, Brooklyn, NY 11217
      View Details
    • $850,000
      686 SF

      Boerum Hill Retail Investment Opportunity

      Prime Brooklyn retail space, 7.5% cap rate.
      422 Atlantic Ave, Brooklyn, NY 11217
      View Details
    • Contact for pricing
      3,078 SF

      Fulton Street Retail Building For Sale

      Prime Brooklyn Location, Newly Renovated Restaurant Space
      660 Fulton St, Brooklyn, NY 11217
      View Details
    • Contact for pricing
      3,078 SF

      Fulton Street Retail Opportunity

      Prime Brooklyn Restaurant Space, Newly Renovated
      660 Fulton St, Brooklyn, NY 11217
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,000 SF

      Park Slope Boutique Corner Retail

      Highly visible corner retail space in the heart of Park Slope.
      89 7Th Ave, Brooklyn, NY 11217
      View Details
    • Contact for pricing
      2,637 SF

      Prime Retail Space Near Park

      Retail space with frontage near Thomas Greene Park.
      251 Douglass St, Brooklyn, NY 11217
      View Details
    • Contact for pricing
      2,300 SF

      Gowanus Retail Space Opportunity

      Retail spaces available in new 96-unit apartment building.
      159 3Rd Ave, Brooklyn, NY 11217
      View Details
    • Contact for pricing
      960 SF

      Brooklyn Retail Space For Rent

      960 SF community facility space in Brooklyn Cultural District.
      147 Saint Felix St, Brooklyn, NY 11217
      View Details
    • Contact for pricing
      3,600 SF

      Retail Space Near BAM Theater

      Retail space with wraparound frontage near BAM Harvey Theater.
      230 Ashland Pl, Brooklyn, NY 11217
      View Details
    • Contact for pricing
      3,100 SF

      Prime Retail & Restaurant Space

      Highly visible retail and restaurant space in downtown Brooklyn.
      333 Schermerhorn St, Brooklyn, NY 11217
      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.
    2 Flatbush Ave
    Brooklyn, NY 11217-1102
    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.