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

    255 47th St Brooklyn, NY 11220-1009

    • Warehouses
    • 18,000 SF
    • 0.23 lot acres
    OFF-MARKET
    Last Sale
    Nov 13, 2024
    $6,400,000
    Value Estimations
    $6,400,000
    Show details
    Cap Rate Potential
    7.1%
    Warehouses
    Location Intelligence
    Property ID
    US63-1935298
    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

    • Warehouses

    Property Details for 255 47th St

    Year built
    1924
    Lot size
    0.23 lot acres
    Property size
    18,000 SF
    Zone code
    M12D
    Property type
    Warehouses
    APN
    00754-0052
    APU
    7540052

    Description

    This exceptional industrial property at 255 47th Street in Brooklyn's desirable Sunset Park offers a rare opportunity. The 13,500-square-foot warehouse boasts a flexible layout, perfect for a variety of uses. The building features two stories, with ceiling heights of 12.4 feet on the first floor and 15.5 feet on the second, providing ample vertical space. One convenient drive-in bay simplifies loading and unloading. The property is zoned M1-2, allowing for a range of industrial and manufacturing activities. The entire 13,500 square feet is currently vacant, presenting a unique chance for a single tenant to occupy the entire space or for multiple tenants to lease individual suites. Minimum divisible space is 5,500 square feet, with a maximum contiguous space of 13,500 square feet. A notable feature is the availability of 8,000 square feet on the second floor with private elevator access, ideal for office space or specialized operations. This prime location in Sunset Park, Kings County (APN 754-52), offers excellent access to major transportation routes and a thriving industrial community. The property's size, layout, and location make it an ideal choice for businesses seeking a versatile and strategically located warehouse space in New York City. Contact us today to learn more about this exceptional opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $6,400,000
      ML approach
      $6,400,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $7,575,000
      6.5%
      $6,990,000
      7%
      $6,490,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $8,074,000
      Market price range: $5.51M - $13.9M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $9,020,000
      Current use
      INDUSTRIAL (GENERAL)
      $10,215,000
      Change: +13% Conversion: Easy
      COMMERCIAL (GENERAL)
      $8,580,000
      Change: -5% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -74.0136
    Latitude
    40.6501
    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
    $81,858
    $135,450
    $725,400
    $860,850
    -
    $301,000
    $1,612,000
    $1,913,000

    Comparable in this City

    • Value Estimation by Request

      5800 2Nd Ave

      Distribution properties
      5800 2Nd Ave, Brooklyn, NY 11220
      View Details
    • Value Estimation
      $920,000
      4,000 SF

      4502 3rd Ave

      WAREHOUSE, STORAGE • 4,000 SF
      4502 3rd Ave, Brooklyn, NY 11220-1037
      View Details
    • Value Estimation
      $31,845,000
      135,600 SF

      536-540 63rd St

      MINI-WAREHOUSE, STORAGE • 135,600 SF
      536-540 63rd St, Brooklyn, NY 11220
      View Details
    • Value Estimation
      $10,470,000
      34,773 SF

      6303 5th Ave

      WAREHOUSE, STORAGE • 34,773 SF
      6303 5th Ave, Brooklyn, NY 11220-4910
      View Details
    • Value Estimation
      $895,000
      4,000 SF

      214-216 51st St

      WAREHOUSE, STORAGE • 4,000 SF
      214-216 51st St, Brooklyn, NY 11220
      View Details
    • Value Estimation
      $800,000
      2,799 SF

      247 52nd St

      WAREHOUSE, STORAGE • 2,799 SF
      247 52nd St, Brooklyn, NY 11220-1714
      View Details

    Similar Nearby for Sale

    • $2,000,000

      Sunset Park Warehouse/Industrial Space

      4,000 sqft warehouse/industrial space in Sunset Park, Brooklyn for sale.
      238 53Rd St, Brooklyn, NY 11220
      View Details
    • New
      $8,500,000
      10,000 SF

      Brooklyn Warehouse with Flexible Layout

      One-story industrial warehouse in Sunset Park, Brooklyn, with M1-1 zoning.
      6124 6Th Ave, Brooklyn, NY 11220
      View Details
    • $2,950,000
      5,200 SF

      Brooklyn Warehouse with Mechanic Shop

      5200 SF Brooklyn warehouse with established mechanic/body shop.
      218 48Th St, Brooklyn, NY 11220
      View Details
    • $1,980,000
      4,750 SF

      Sunset Park Commercial Building

      Prime Location, Vacant, Investment Opportunity
      135 58Th St, Brooklyn, NY 11220
      View Details
    • $3,500,000

      Sunset Park Versatile Warehouse

      Warehouse with professional suites in prime Sunset Park location.
      226 52Nd St, Brooklyn, NY 11220
      View Details
    • $9,750,000
      19,100 SF

      Bay Ridge Warehouse & Office

      19,100 SF warehouse/office with vacant lot near subway.
      6700 3Rd Ave, Brooklyn, NY 11220
      View Details

    Similar Nearby for Lease

    • $19 SF/Yr
      84,500 SF

      Brooklyn Industrial Warehouse Space

      Sunset Park warehouse, multiple spaces available
      5800 2Nd Ave, Brooklyn, NY 11220
      View Details
    • Contact for pricing
      52,000 SF

      Sunset Park Warehouse/Distribution Space

      Prewar building in Sunset Park, ideal for warehousing/distribution.
      5801-5823 2Nd Ave, Brooklyn, NY 11220
      View Details
    • $9,200 /Mo

      Sunset Park Warehouse with Parking

      2,400 sqft warehouse with M1-1 zoning and parking.
      858B 62Nd St, Brooklyn, NY 11220
      View Details
    • $17 SF/Yr
      170,000 SF

      Sunset Park Industrial Loft Space

      Spacious Brooklyn flex space, ideal for creative businesses.
      5700 1St Ave, Brooklyn, NY 11220
      View Details
    • $21,000
      7,000 SF

      Brooklyn Warehouse Space For Lease

      7,000 SF industrial space in Sunset Park, Brooklyn.
      841 63Rd St, Brooklyn, NY 11220
      View Details
    • $47 SF/Yr
      2,000 SF

      Sunset Park Warehouse Gem

      Spacious 2,000 SF Warehouse in Brooklyn
      858 62Nd 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.
    255 47th St
    Brooklyn, NY 11220-1009
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.