Add Listing
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

    278 Grand St Brooklyn, NY 11211

    • Investment properties
    • 7,695 SF
    • 0.04 lot acres
    OFF-MARKET
    Last Sale
    Oct 24, 2022
    $4,500,000
    Value Estimations
    $4,635,000
    Show details
    Cap Rate Potential
    5.7%
    Investment properties
    Location Intelligence
    Property ID
    US63-6180539
    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

    • Marco Coffee Cornor / Cafe & Coffee Shop

    Property Details for 278 Grand St

    Year built
    2009
    Lot size
    0.04 lot acres
    Property size
    7,695 SF
    Zone code
    R6B
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    02395-0004
    APU
    23950004

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,885,000
      ML approach
      $4,990,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,655,000
      6.5%
      $4,295,000
      7%
      $3,990,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $5,180,000
      Current use
      AUTO REPAIR, GARAGE
      $6,115,000
      Change: +18% Conversion: Difficult
      RETAIL STORES
      $5,925,000
      Change: +14% Conversion: Easy
      INDUSTRIAL (GENERAL)
      $4,370,000
      Change: -16% Conversion: Moderate
      OFFICE BUILDING
      $4,235,000
      Change: -18% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.958
    Latitude
    40.713
    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
    $32,053
    $48,150
    $997,290
    $1,045,440
    -
    $107,000
    $2,216,200
    $2,323,200

    Comparable in this City

    • Value Estimation
      $2,885,000
      6,625 SF

      592 Un Ave, Unit 6

      OFFICE/RESIDENTIAL (MIXED USE) • 6,625 SF
      592 Un Ave, Brooklyn, NY 11211
      View Details
    • Value Estimation
      $1,080,000
      3,825 SF

      274 Marcy Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,825 SF
      274 Marcy Ave, Brooklyn, NY 11211-7921
      View Details
    • Value Estimation
      $2,990,000
      6,883 SF

      575 Lorimer St

      OFFICE/RESIDENTIAL (MIXED USE) • 6,883 SF
      575 Lorimer St, Brooklyn, NY 11211-6882
      View Details
    • Value Estimation
      $675,000
      2,223 SF

      57 Lee Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 2,223 SF
      57 Lee Ave, Brooklyn, NY 11211-7215
      View Details
    • Value Estimation
      $2,560,000
      5,844 SF

      47 Frost St

      OFFICE/RESIDENTIAL (MIXED USE) • 5,844 SF
      47 Frost St, Brooklyn, NY 11211-1251
      View Details
    • Value Estimation
      $610,000
      1,951 SF

      198 Broadway

      OFFICE/RESIDENTIAL (MIXED USE) • 1,951 SF
      198 Broadway, Brooklyn, NY 11211-6130
      View Details

    Similar Nearby for Sale

    • $2,375,000
      0.06 Acres

      Williamsburg Corner Building Redevelopment Opportunity

      Free market building near Williamsburg Bridge with redevelopment potential.
      373 S 1St St, Brooklyn, NY 11211
      View Details
    • $23,388,000

      Williamsburg Mixed-Use Corner Building

      31,500 SF mixed-use building in prime Williamsburg location.
      101-105 Havemeyer St, Brooklyn, NY 11211
      View Details
    • Contact for pricing

      Williamsburg Mixed-Use Value-Add Opportunity

      Prime Williamsburg mixed-use building, value-add potential, near subway.
      104 Roebling St, Brooklyn, NY 11211
      View Details
    • Contact for pricing
      6,747 SF

      Williamsburg Mixed-Use Building For Sale

      Mixed-use property in prime Williamsburg location with residential and commercial spaces.
      221 N 9Th St, Brooklyn, NY 11211
      View Details
    • $24,000,000
      65,535 SF

      Mixed-Use Building with High Ceilings

      Ten-story mixed-use building in Brooklyn with residential, commercial, and parking.
      467 Keap St, Brooklyn, NY 11211
      View Details

    Similar Nearby for Lease

    • $96 SF/Yr
      1,000 SF

      Williamsburg Retail Space

      1000 sq ft, prime Williamsburg location
      232 Metropolitan Ave Brooklyn, NY 11211, Brooklyn, NY 11211
      View Details
    • $8,000 /Mo
      4,153 SF

      Williamsburg Mixed-Use Commercial Space

      4,153 SF space ideal for fitness, wellness, or medical.
      467 Keap St, Brooklyn, NY 11211
      View Details
    • Contact for pricing

      Brooklyn Commercial Property for Lease

      Prime Brooklyn property with modern amenities and versatile floor plans.
      315 Rutledge St, Brooklyn, NY 11211
      View Details
    • $8,500 /Mo
      1,150 SF

      Williamsburg Retail Space For Rent

      Prime Brooklyn retail space near transportation and parks.
      127 Bedford Ave, Brooklyn, NY 11211
      View Details
    • $7,000 /Mo
      3,500 SF

      Renovated Office Space in Williamsburg

      Recently renovated 3,500 SF office space with new amenities.
      84 Withers St, Brooklyn, NY 11211
      View Details
    • Contact for pricing

      Storefront with Basement on Broadway

      Storefront with office space and basement for rent.
      409 Broadway, Brooklyn, NY 11211
      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.
    278 Grand St
    Brooklyn, NY 11211
    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.
    Sign Up Successful!
    You now have access to more from Realmo!