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    243 Brighton Bch Ave Brooklyn, NY 11235-7425
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    243 Brighton Bch Ave Brooklyn, NY 11235-7425

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    • Retail residential properties
    • 3,090 SF
    • 0.05 lot acres
    Off-Market
    Last Sale Nov 14, 2024
    $2,350,000
    Property ID
    US63-3460373
    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.
    Value Estimations
    $2,350,000
    Show details
    Cap Rate Potential
    4.8%
    Retail residential properties
    Location Intelligence

    Current Use by Public Records

    • Exclusive Women's Wear / Clothing Store
    • Beauty lounge Queen LLC / Hair Salon / Nail Salon
    • Pro Secret / Medical Clinic / Skin Care Clinic
    • TROPICANA TRAVEL AGENCY / Travel Agency

    Property Details for 243 Brighton Bch Ave

    Year built
    1929
    Lot size
    0.05 lot acres
    Property size
    3,090 SF
    Zone code
    R6
    Property type
    Retail residential properties
    APN
    08671-0937
    APU
    86710937

    Description

    This exceptional mixed-use property at 243 Brighton Beach Avenue in Brooklyn, NY (zip code 11235), offers a compelling investment opportunity. The two-story building, situated on a 20 ft x 100 ft lot, encompasses 3,250 square feet of space currently configured as office and retail. Currently operating at 100% occupancy, the property generates a net operating income (NOI) of $141,000, resulting in a 5.65% cap rate. The asking price is $2,500,000. The building's versatile layout includes space previously used as two residential units, now converted to office/retail space, providing flexibility for future uses. Its prime location on Brighton Beach Avenue in the heart of Brooklyn offers significant potential for growth and strong rental income. This property presents a rare chance to acquire a well-performing asset in a vibrant and desirable neighborhood. The strong financials, combined with the strategic location and adaptable space, make this a standout investment opportunity in Brooklyn's dynamic real estate market. This is a value-add opportunity with significant upside potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,350,000
      ML approach
      $2,350,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,870,000
      6.5%
      $1,725,000
      7%
      $1,600,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,719,000
      Market price range: $995k - $1.72M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $2,455,000
      RETAIL STORES
      $2,335,000
      WAREHOUSE, STORAGE
      $1,550,000
      OFFICE BUILDING
      $1,545,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9658
    Latitude
    40.577
    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
    $32,698
    $67,500
    $241,200
    $308,700
    -
    $150,000
    $536,000
    $686,000

    Comparable in this City

    • Value Estimation
      $4,670,000
      14,072 SF

      514 Brighton Bch Ave

      STORE/OFFICE (MIXED USE) • 14,072 SF
      514 Brighton Bch Ave, Brooklyn, NY 11235-6404
      View Details
    • Value Estimation
      $24,235,000
      74,211 SF

      3860 Nostrand Ave, Unit 3880

      STORE/OFFICE (MIXED USE) • 74,211 SF
      3860 Nostrand Ave, Brooklyn, NY 11235
      View Details
    • Value Estimation
      $5,635,000
      20,569 SF

      2735 13th St

      STORES & APARTMENTS • 20,569 SF
      2735 13th St, Brooklyn, NY 11235-4458
      View Details
    • Value Estimation
      $3,880,000
      3,540 SF

      291 Brighton Bch Ave

      STORES & APARTMENTS • 3,540 SF
      291 Brighton Bch Ave, Brooklyn, NY 11235-7410
      View Details
    • Value Estimation
      $1,895,000
      3,720 SF

      310 Brighton Bch Ave

      STORES & APARTMENTS • 3,720 SF
      310 Brighton Bch Ave, Brooklyn, NY 11235-7450
      View Details
    • Value Estimation
      $815,000
      2,200 SF

      3163 Coney Is Ave

      STORES & APARTMENTS • 2,200 SF
      3163 Coney Is Ave, Brooklyn, NY 11235-6443
      View Details

    Similar Nearby for Sale

    • $2,699,000

      Brighton Beach Mixed-Use Investment

      Mixed-use building in high-traffic Brighton Beach with income potential.
      404 Brighton Beach Ave, Brooklyn, NY 11235
      View Details
    • $4,499,000
      11,280 SF

      Mixed-Use Building For Sale

      Mixed-use building with 11,280 square feet available for sale.
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    • $2,449,000

      Brighton Beach Mixed-Use Corner Property

      Mixed-use building in Brighton Beach with commercial and residential units.
      105 Brighton 11Th St, Brooklyn, NY 11235
      View Details
    • Contact for pricing
      7,000 SF

      Brooklyn Retail/Mixed-Use Space Available

      7,000 SF ground floor space suitable for mixed-use purposes.
      2403-2411 Avenue X, Brooklyn, NY 11235
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Move-in Ready Sheepshead Bay Office

      Fully built, adaptable office space in prime Sheepshead Bay location.
      1402 Sheepshead Bay Rd, Brooklyn, NY 11235
      View Details
    • Contact for pricing
      3,500 SF

      Brooklyn Office Space For Rent

      First floor office space in elevator building, close to transportation.
      3044 Coney Island Ave, Brooklyn, NY 11235
      View Details
    • $2,800 /Mo
      1,100 SF

      Brighton Beach Office Space Available

      Office space for lease in prime Brighton Beach location.
      3071 Brighton 13Th St, Brooklyn, NY 11235
      View Details
    • Contact for pricing
      1,874 SF

      Retail Space on Nostrand Avenue

      Retail space with high traffic and immediate availability.
      3809 Nostrand Ave, Brooklyn, NY 11235
      View Details
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    Brooklyn, NY 11235-7425
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    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
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