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

    251 1st Stcom-a Brooklyn, NY 11215-1983

    • Retail space
    • 5,202 SF
    • 0.23 lot acres
    OFF-MARKET
    Value Estimations
    $2,180,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-5505394
    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

    • English Lessons By Mel / Tutoring Service
    • 251 First / Condominium Complex

    Property Details for 251 1st Stcom-a

    Year built
    2015
    Lot size
    0.23 lot acres
    Property size
    5,202 SF
    Zone code
    C44D
    Property type
    Retail space
    APN
    00964-1402
    APU
    9641402

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $3,565,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9842
    Latitude
    40.6752
    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
    $58,465
    $54,270
    $497,700
    $551,970
    -
    $120,600
    $1,106,000
    $1,226,600

    Comparable in this City

    • Value Estimation by Request
      5,871 SF

      453 5Th Ave

      Individual retail properties • 5,871 SF
      453 5Th Ave, Brooklyn, NY 11215
      View Details
    • Value Estimation
      $970,000
      2,610 SF

      564 5th Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,610 SF
      564 5th Ave, Brooklyn, NY 11215-5435
      View Details
    • Value Estimation
      $635,000
      1,050 SF

      562 5th Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,050 SF
      562 5th Ave, Brooklyn, NY 11215-5435
      View Details
    • Value Estimation
      $14,590,000
      75,421 SF

      212 3rd St

      STORE, RETAIL OUTLET • 75,421 SF
      212 3rd St, Brooklyn, NY 11215-2702
      View Details
    • Value Estimation
      $825,000
      2,000 SF

      1913 10th Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,000 SF
      1913 10th Ave, Brooklyn, NY 11215-6246
      View Details
    • Value Estimation
      $605,000
      1,509 SF

      233 18th St, Unit 2C

      RETAIL STORES (PERSONAL SERVICES) • 1,509 SF
      233 18th St, Brooklyn, NY 11215-7476
      View Details

    Similar Nearby for Sale

    • $599,000

      Storefront Retail Space in Brooklyn

      Retail space for sale in prime Park Slope location.
      427 7Th Ave, New York, NY 11215
      View Details
    • $4,600,000
      4,300 SF

      Mixed-Use Building in Park Slope

      Mixed-use investment property on 5th Avenue in prime Park Slope.
      480 5Th Ave, Brooklyn, NY 11215
      View Details
    • $2,999,990
      2,911 SF

      Prime Park Slope Mixed-Use Asset

      Mixed-use property in prime Park Slope location with high visibility.
      258 7Th Ave, Brooklyn, NY 11215
      View Details
    • $625,000
      530 SF

      Brooklyn Retail Cooperative Opportunity

      Retail cooperative in Park Slope near Prospect Park.
      433 7Th Ave, Brooklyn, NY 11215
      View Details
    • $16,150,000
      36,500 SF

      Brooklyn Retail Condo For Sale

      36,500 SF retail condo in a busy Brooklyn corridor.
      550 5Th Ave, Brooklyn, NY 11215
      View Details
    • $69,000
      600 SF

      Established Brooklyn Beauty House

      Well-established salon with loyal clientele and diverse services.
      407 7Th Ave, Brooklyn, NY 11215
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,200 SF

      Retail Space on 5th Avenue

      3,200 SF retail space with frontage on 5th Avenue.
      581 5Th Ave, Brooklyn, NY 11215
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space in Brooklyn Available

      Ground floor retail space with 20 feet of frontage.
      207 Prospect Park W, Brooklyn, NY 11215
      View Details
    • $30,000

      Gowanus Retail/Office/Medical Space

      Versatile 4,300 SF space in vibrant Gowanus location.
      288 4Th Ave, Brooklyn, NY 11215
      View Details
    • $1,500 /Mo
      489 SF

      Versatile Commercial Condo in Park Slope

      Adaptable 489 sqft commercial condo in prime Park Slope location.
      161 12Th St, Brooklyn, NY 11215
      View Details
    • Contact for pricing
      21,865 SF

      Prime Brooklyn Retail Space

      Multiple units, 1,345-9,976 sqft
      307 Nevins St, Brooklyn, NY 11215
      View Details
    • Contact for pricing
      1,446 SF

      Park Slope Corner Retail Space

      Corner retail space in Park Slope available Q1 2025.
      487 4Th Ave, Brooklyn, NY 11215
      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.
    251 1st Stcom-a
    Brooklyn, NY 11215-1983
    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.