Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    245 48Th St Brooklyn, NY 11220

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    245 48Th St Brooklyn, NY 11220

    View on Map
    • Coworking space
    Off-Market
    Property ID
    US63-0780285
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • YH Tools / (Bike/Boat/Book/etc) Store / Building Supply
    • My Tool Rental - MTR / Rental Equipment Company

    Property Details for 245 48Th St

    Property type
    Coworking space
    Property subtype
    Office Units

    Description

    This exceptional 650-square-foot office space is ideally located at 245 48th Street in Brooklyn, Kings County, New York, zip code 11220. The property is a single-tenant space, perfect for a small business or growing company seeking a versatile workspace. Its classification encompasses Traditional Office, Creative Office, and Coworking spaces, offering flexibility to suit various business needs. Situated on the ground floor, this easily accessible location provides convenient entry and exit. The space includes the benefit of split HVAC units, ensuring individual climate control for optimal comfort and efficiency. Its strategic location offers easy access to New York City via the Hugh L. Carey Tunnel, providing seamless connectivity to the broader metropolitan area. This property presents a unique opportunity for businesses seeking a well-appointed and conveniently located office space in the vibrant Brooklyn neighborhood. The property type is officially classified as an office building. The address is 245 48th Street.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -74.014570884529
    Latitude
    40.649502420308

    Comparable in this City

    • $4,000 /Mo
      1,335 SF

      Sunset Park Condo For Rent

      New construction condo suitable for various facilities in Sunset Park.
      821 45Th St, Brooklyn, NY 11220
      View Details
    • New
      $2,000 /Mo
      200 SF

      Brooklyn Storefront/Office Space For Rent

      Corner store suitable for offices, flower shops, or small groceries.
      5001 4Th Ave, Brooklyn, NY 11220
      View Details
    • Contact for pricing

      Sunset Park Loft/Office/Creative Space

      Flexible loft space in Sunset Park with freight access.
      5700 1St Ave, Brooklyn, NY 11220
      View Details
    • Contact for pricing

      Renovated Office Space For Rent

      Renovated office space with high ceilings and easy transit access.
      4606 3Rd Ave, Brooklyn, NY 11220
      View Details
    • Contact for pricing

      Sunset Park Second Floor Office

      Spacious office in Sunset Park, suitable for various uses.
      766 55Th St, Brooklyn, NY 11220
      View Details

    Similar Nearby for Sale

    • $1,150,000
      1,100 SF

      Newly Renovated Brooklyn Commercial Space

      Renovated commercial space suitable for various professional uses.
      824 56Th St, Brooklyn, NY 11220
      View Details
    • $4,590,000
      5,613 SF

      Brooklyn Mixed-Use Investment Opportunity

      Three units: retail and office spaces in Sunset Park.
      4711 8Th Ave, Brooklyn, NY 11220
      View Details
    • $1,150,000
      1,100 SF

      Newly Renovated Brooklyn Commercial Space

      Renovated commercial space suitable for various professional uses.
      824 56Th St, Brooklyn, NY 11220
      View Details
    • $1,050,000
      1,439 SF

      Sunset Park Commercial Condo Unit

      Versatile 1,439 sq ft commercial condo in Sunset Park.
      867 53Rd St, Brooklyn, NY 11220
      View Details
    • $1,400,000

      Full Brooklyn Commercial Building Opportunity

      Versatile 4,700+ SF vacant building in evolving Brooklyn corridor.
      4708 3Rd Ave, Brooklyn, NY 11220
      View Details

    Similar Nearby for Lease

    • $4,000 /Mo
      1,335 SF

      Sunset Park Condo For Rent

      New construction condo suitable for various facilities in Sunset Park.
      821 45Th St, Brooklyn, NY 11220
      View Details
    • Contact for pricing

      Sunset Park Loft/Office/Creative Space

      Flexible loft space in Sunset Park with freight access.
      5700 1St Ave, Brooklyn, NY 11220
      View Details
    • Contact for pricing

      Renovated Office Space For Rent

      Renovated office space with high ceilings and easy transit access.
      4606 3Rd Ave, Brooklyn, NY 11220
      View Details
    • Contact for pricing

      Sunset Park Second Floor Office

      Spacious office in Sunset Park, suitable for various uses.
      766 55Th St, Brooklyn, NY 11220
      View Details
    • Contact for pricing

      Sunset Park Commercial Condo For Lease

      New construction commercial condo in prime Sunset Park location.
      867 53Rd St, Brooklyn, NY 11220
      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.
    245 48Th St
    Brooklyn, NY 11220
    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

    Thank You for Inquiry

    245 48Th St, Brooklyn, NY, 11220

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!