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

    2939 Brighton 8Th St Brooklyn, NY 11235

    • Apartment buildings
    • 7,545 SF
    • 0.04 lot acres
    For Sale
    View listing
    $1,580,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-0108080
    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

    • Apartment buildings

    Property Details for 2939 Brighton 8Th St

    Year built
    2006
    Lot size
    0.04 lot acres
    Property size
    7,545 SF
    Zone code
    R6
    Property type
    Apartment buildings
    APN
    08668-0802
    APU
    86680802

    Description

    This exceptional investment opportunity presents a partially completed six-unit elevator apartment building in the vibrant Brighton Beach neighborhood of Brooklyn, New York. Located at 2939 Brighton 8th Street, this property boasts a total net rentable area of 7,953 square feet, situated on a 1,882 square foot lot. The building is currently under construction, with the foundation, walls, and roof already completed. The approved plans include six free-market units – four two-bedroom units and two one-bedroom units. All remaining work, including plumbing, elevator installation, electrical work, and interior finishes, is yet to be completed. The building is zoned R6 and offers a compelling 9.00% cap rate at an asking price of $1,580,000, or $263,333.33 per unit. This is a Class B multifamily property with no 421A tax benefits. Approved plans are available upon request. This presents a unique opportunity for an investor to complete construction and capitalize on the strong rental market in Brighton Beach. The property's prime location and the potential for significant returns make this an attractive investment prospect.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $328,000
      Market price range: $76.9k - $707k

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9607
    Latitude
    40.5808
    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
    $34,973
    $62,100
    $248,720
    $310,820
    -
    $138,000
    $552,712
    $690,712

    Comparable in this City

    • Value Estimation
      $12,440,000
      95,104 SF

      115-182 Oriental Blvd Blvd, Unit 44

      APARTMENT HOUSE (5+ UNITS) • 95,104 SF
      115-182 Oriental Blvd Blvd, Brooklyn, NY 11235
      View Details
    • Value Estimation
      $3,020,000
      45,360 SF

      2991 Brighton 13th St, Unit 48

      APARTMENT HOUSE (5+ UNITS) • 45,360 SF
      2991 Brighton 13th St, Brooklyn, NY 11235-5445
      View Details
    • Value Estimation
      $2,850,000
      49,000 SF

      3026 Brighton 14th St, Unit 53

      APARTMENT HOUSE (5+ UNITS) • 49,000 SF
      3026 Brighton 14th St, Brooklyn, NY 11235-5577
      View Details
    • Value Estimation
      $2,905,000
      50,400 SF

      3120 Brighton 5th St

      APARTMENT HOUSE (5+ UNITS) • 50,400 SF
      3120 Brighton 5th St, Brooklyn, NY 11235-7044
      View Details
    • Value Estimation
      $3,495,000
      61,000 SF

      3051 Ocean Ave, Unit 69

      APARTMENT HOUSE (5+ UNITS) • 61,000 SF
      3051 Ocean Ave, Brooklyn, NY 11235-3433
      View Details
    • Value Estimation
      $4,750,000
      56,827 SF

      1133 Banner Ave

      APARTMENT HOUSE (5+ UNITS) • 56,827 SF
      1133 Banner Ave, Brooklyn, NY 11235
      View Details

    Similar Nearby for Sale

    • $210,000

      Renovated 1-Bedroom Co-op Apartment

      Renovated Sheepshead Bay co-op with utilities included.
      711 Montauk Ct, Brooklyn, NY 11235
      View Details
    • $389,000

      High-Floor Corner Coop Apartment

      Spacious 2-bedroom coop with skyline views, prime location.
      2650 Parkway Ct, Brooklyn, NY 11235
      View Details
    • $239,000

      Spacious One-Bedroom Co-op in Brooklyn

      One-bedroom co-op in Sheepshead Bay, close to transportation.
      2717 E 28Th St, Brooklyn, NY 11235
      View Details
    • $3,990,000

      New Construction Multifamily in Brooklyn

      New construction multifamily property in prime Sheepshead Bay area.
      2721 E 21St St, Brooklyn, NY 11235
      View Details
    • $379,000

      Brighton Beach Apartment Near Transit

      Spacious 2-bedroom apartment near train and ocean.
      3045 Ocean Pkwy, Brooklyn, NY 11235
      View Details
    • $189,000

      Spacious Brooklyn Co-op Apartment

      J-4 co-op with open layout and ample storage.
      3021 Avenue, Brooklyn, NY 11235
      View Details

    Similar Nearby for Lease

    • $1,950 /Mo

      Brighton Towers Renovated Studio Apartment

      Renovated studio with amenities near Brighton Beach boardwalk.
      40 Brighton 1St Rd, Brooklyn, NY 11235
      View Details
    • $3,400 /Mo

      Brooklyn Multifamily Property for Rent

      Multifamily property available for rent in Brooklyn, NY.
      3977 Nostrand Ave, Brooklyn, NY 11235
      View Details
    • $55 SF/Yr
      10,000 SF

      Retail Space in Sheepshead Bay

      Renovated retail space with high traffic and public transportation access.
      1637 Sheepshead Bay Rd, Brooklyn, NY 11235
      View Details
    • Contact for pricing
      800 SF

      Retail Space in Sheepshead Bay

      Retail space for rent in prime Sheepshead Bay location.
      10 Shore Blvd, Brooklyn, NY 11235
      View Details
    • Contact for pricing
      1,550 SF

      Prime Brooklyn Medical Office Space

      1,550 SF Medical Office - Available Now
      1400 Avenue Z, Brooklyn, NY 11235
      View Details
    • $29 SF/Yr
      4,000 SF

      Prime Brooklyn Office Space

      Spacious Office, High Traffic Area
      2709 Coney Island Ave, Brooklyn, NY 11235
      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.
    2939 Brighton 8Th St
    Brooklyn, NY 11235
    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.