Add Listing
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

    32 Fountain Ave Brooklyn, NY 11208-4174

    • Apartment buildings
    • 6,713 SF
    • 0.11 lot acres
    OFF-MARKET
    Last Sale
    Apr 11, 2025
    $1,850,000
    Value Estimations
    $1,785,000
    Show details
    Cap Rate Potential
    9.1%
    Apartment buildings
    Location Intelligence
    Property ID
    US63-4539794
    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 32 Fountain Ave

    Year built
    2018
    Lot size
    0.11 lot acres
    Property size
    6,713 SF
    Zone code
    R5B
    Property type
    Apartment buildings
    APN
    04154-0061
    APU
    41540061

    Description

    This exceptional 7-unit apartment building, constructed in 2018, presents a compelling investment opportunity in Brooklyn's East New York neighborhood. The property boasts 6,713 square feet of net rentable space across three stories, with a mix of one-, two-, and three-bedroom units. The building features a desirable unit mix, including two 2-bedroom/1-bathroom units (815 sq ft each), one 3-bedroom/1-bathroom unit (936 sq ft), and three 1-bedroom/1-bathroom units (775 sq ft each). One 2-bedroom unit is currently vacant. All units are free-market, offering flexibility and potential for increased rental income. The property sits on a 5,000 square foot lot (50' x 100') and includes six valuable parking spaces. Currently operating at 100% occupancy, the building generates a strong net operating income (NOI) of $130,180, with a pro-forma NOI of $163,331. The asking price is $2,095,000, representing a compelling cap rate of 6.21% and a pro-forma cap rate of 7.80%. Its location offers excellent transit accessibility, with multiple subway lines within walking distance. This property is offered below replacement cost, making it an attractive investment with significant upside potential. The building is zoned R5B. The property's strong financials, desirable location, and recent construction make it an ideal addition to any investment portfolio.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,680,000
      ML approach
      $1,765,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,555,000
      6.5%
      $2,360,000
      7%
      $2,190,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,305,000
      Market price range: $742k - $1.68M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,220,000
      Current use
      COMMERCIAL (GENERAL)
      $1,905,000
      Change: +56% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.8766
    Latitude
    40.6793
    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
    $45,964
    $130,500
    $237,150
    $367,650
    -
    $290,000
    $527,000
    $817,000

    Comparable in this City

    • Value Estimation
      $2,280,000
      13,764 SF

      527 Linwood St

      APARTMENT HOUSE (5+ UNITS) • 13,764 SF
      527 Linwood St, Brooklyn, NY 11208
      View Details
    • Value Estimation
      $1,470,000
      5,400 SF

      599 Autumn Ave, Unit 6

      APARTMENT HOUSE (5+ UNITS) • 5,400 SF
      599 Autumn Ave, Brooklyn, NY 11208-3265
      View Details
    • Value Estimation
      $12,415,000
      86,525 SF

      642 Eldert Lnbrook

      APARTMENT HOUSE (5+ UNITS) • 86,525 SF
      642 Eldert Lnbrook, Brooklyn, NY 11208-3374
      View Details
    • Value Estimation
      $995,000
      3,675 SF

      201 Highland Pl

      APARTMENT HOUSE (5+ UNITS) • 3,675 SF
      201 Highland Pl, Brooklyn, NY 11208-1289
      View Details
    • Value Estimation
      $685,000
      3,600 SF

      1097 Glenmore Ave

      APARTMENT HOUSE (5+ UNITS) • 3,600 SF
      1097 Glenmore Ave, Brooklyn, NY 11208-3226
      View Details
    • Value Estimation
      $1,325,000
      8,151 SF

      2724 Pitkin Ave, Unit 11

      APARTMENT HOUSE (5+ UNITS) • 8,151 SF
      2724 Pitkin Ave, Brooklyn, NY 11208-3177
      View Details

    Similar Nearby for Sale

    • $2,699,000
      8,296 SF

      Prime Brooklyn 6-Unit Apartment Building

      New Construction, High Occupancy, Strong NOI
      234 Norwood Ave, Brooklyn, NY 11208
      View Details
    • $849,000

      Updated Three-Unit Residence

      Updated three-unit residence with income potential in Brooklyn.
      285 Lincoln Ave, Brooklyn, NY 11208
      View Details
    • $1,350,000

      Brooklyn Mixed-Use Investment Property

      Four apartments and a storefront at Fulton Street corner.
      2981 Fulton St, Brooklyn, NY 11208
      View Details
    • $6,500,000
      18,000 SF

      Brooklyn Multifamily Investment Opportunity

      Turn-key 25-unit Brooklyn investment property with retail spaces.
      380 Crescent St, Brooklyn, NY 11208
      View Details
    • $1,124,250
      5,712 SF

      Brooklyn Multifamily Investment Opportunity

      Six-unit multifamily building in Brooklyn with 18 bedrooms total.
      435 Lincoln Ave, Brooklyn, NY 11208
      View Details
    • $959,000

      Brooklyn Six-Family Building For Sale

      Six-family building with five occupied apartments, rent stabilized.
      648 Logan St, Brooklyn, NY 11208
      View Details

    Similar Nearby for Lease

    • $3,500 /Mo

      Brooklyn Apartment with Open Layout

      Three-bedroom apartment near transportation in Brooklyn.
      611 Linwood St, Brooklyn, NY 11208
      View Details
    • $3,500 /Mo

      East New York Three-Bedroom Apartment

      Three-bedroom apartment in East New York, Brooklyn, available for rent.
      346 Montauk Ave, Brooklyn, NY 11208
      View Details
    • $3,700 /Mo

      Brooklyn Multifamily Property for Rent

      Multifamily property available for rent in Brooklyn, New York.
      98 Logan St, Brooklyn, NY 11208
      View Details
    • Contact for pricing
      50,000 SF

      Prime Brooklyn Retail Space

      50,000 SF Vacant Retail in Kings County
      12457 Flatlands Ave, Brooklyn, NY 11208
      View Details
    • Contact for pricing
      8,500 SF

      Retail Space for Lease

      Up to 8500 Sq. Ft. Retail Space Available
      265 Logan St, Brooklyn, NY 11208
      View Details
    • Contact for pricing
      7,000 SF

      Brooklyn Warehouse with High Power

      7,000 SF Brooklyn warehouse space near JFK Airport.
      616 Atkins Ave, Brooklyn, NY 11208
      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.
    32 Fountain Ave
    Brooklyn, NY 11208-4174
    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!