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

    279 Prospect Ave, Unit P6 Brooklyn, NY 11215-8422

    • Parking lots & garages
    • 153 SF
    OFF-MARKET
    Value Estimations
    $315,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2903848
    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

    • Parking lots & garages

    Property Details for 279 Prospect Ave

    Year built
    2004
    Property size
    153 SF
    Zone code
    R6B
    Property type
    Parking lots & garages
    APN
    01053-1006
    APU
    10531006

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $315,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $318,000
      Market price range: $318k - $587k

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.989
    Latitude
    40.6637
    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
    $9
    $820
    $5,932
    $6,752
    -
    $1,823
    $13,182
    $15,005

    Comparable in this City

    • Value Estimation
      $305,000
      0.03 Acres

      9 St St

      PARKING LOT • 0.03 Acres
      9 St St, Brooklyn, NY 11215
      View Details
    • Value Estimation
      $310,000
      0.00 Acres

      379 Prospect Ave, Unit PS5

      PARKING LOT • 0.00 Acres
      379 Prospect Ave, Brooklyn, NY 11215-4575
      View Details
    • Value Estimation
      $355,000
      200 SF

      444 12th St, Unit 1

      PARKING GARAGE, PARKING STRUCTURE • 200 SF
      444 12th St, Brooklyn, NY 11215-8208
      View Details
    • Value Estimation
      $305,000
      150 SF

      444 12th St, Unit 12

      PARKING GARAGE, PARKING STRUCTURE • 150 SF
      444 12th St, Brooklyn, NY 11215-8208
      View Details
    • Value Estimation
      $350,000
      159 SF

      28-32 Garfield Plpk11

      PARKING GARAGE, PARKING STRUCTURE • 159 SF
      28-32 Garfield Plpk11, Brooklyn, NY 11215
      View Details
    • Value Estimation
      $370,000
      198 SF

      28-32 Garfield Plgarge

      PARKING GARAGE, PARKING STRUCTURE • 198 SF
      28-32 Garfield Plgarge, Brooklyn, NY 11215
      View Details

    Similar Nearby for Sale

    • $3,995,000
      0.03 Acres

      Brooklyn Multifamily with Private Garage

      Three-family brick carriage house with a four-car garage.
      385 6Th Ave, Brooklyn, NY 11215
      View Details
    • $10,000,000
      5,063 SF

      Brooklyn Commercial Property For Sale

      Investment or business opportunity in Park Slope, Brooklyn.
      528 President St, Brooklyn, NY 11215
      View Details
    • $3,250,000
      4,146 SF

      Prime Park Slope Retail Condo

      Two units, high-traffic location, strong lease in place.
      575 4Th Ave, Brooklyn, NY 11215
      View Details
    • $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
    • $5,000,000
      4,680 SF

      Mixed-Use Historic Park Slope Property

      Four-story mixed-use property in prime Park Slope location.
      344 7Th Ave, Brooklyn, NY 11215
      View Details
    • $3,180,000
      3,800 SF

      Park Slope Mixed-Use Investment Opportunity

      Mixed-use building for sale in prime Park Slope location.
      387 7Th Ave, Brooklyn, NY 11215
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      600 SF

      Gowanus Retail Space: Third Ave Gem

      Prime Gowanus retail space, 600 sq ft, private yard.
      257 3Rd Ave, Brooklyn, NY 11215
      View Details
    • $72 SF/Yr
      3,000 SF

      Prospect Park West Retail Space

      Prime Retail Space, 3,000 SF Available
      260 Prospect Park, Brooklyn, NY 11215
      View Details
    • $90 SF/Yr
      2,000 SF

      Prime Park Slope Retail Space

      High-traffic location, 2,000 sq ft.
      325 9Th St, Brooklyn, NY 11215
      View Details
    • $768 /Mo
      1,400 SF

      Prime Brooklyn Retail Space

      1,400 SF Retail/Office in Park Slope
      584 5Th Ave, Brooklyn, NY 11215
      View Details
    • 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
      6,635 SF

      Williamsburg Retail Space For Rent

      Two-story retail space in prime Williamsburg retail corridor.
      108-112 N 6Th St, 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.
    279 Prospect Ave, Unit P6
    Brooklyn, NY 11215-8422
    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.