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

    340 Evergreen Ave Brooklyn, NY 11221-6627

    • Apartment buildings
    • 133,497 SF
    • 0.79 lot acres
    OFF-MARKET
    Last Sale
    Mar 21, 2022
    Value Estimations
    $27,375,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-5689491
    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

    • Zipcar Location / Freight Service / Logistics Company
    • 340 Evergreen Apartments / Apartment Complex

    Property Details for 340 Evergreen Ave

    Year built
    2019
    Lot size
    0.79 lot acres
    Property size
    133,497 SF
    Zone code
    R6
    Property type
    Apartment buildings
    APN
    03274-0002
    APU
    32740002

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $34,780,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9249
    Latitude
    40.6944
    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
    $396,816
    $390,600
    $13,526,550
    $13,917,150
    -
    $868,000
    $30,059,000
    $30,927,000

    Comparable in this City

    • Value Estimation
      $695,000
      49,520 SF

      375 Central Ave

      APARTMENT HOUSE (5+ UNITS) • 49,520 SF
      375 Central Ave, Brooklyn, NY 11221-4760
      View Details
    • Value Estimation
      $1,460,000
      25,200 SF

      1023 Broadway

      APARTMENT HOUSE (5+ UNITS) • 25,200 SF
      1023 Broadway, Brooklyn, NY 11221-2528
      View Details
    • Value Estimation
      $7,335,000
      37,405 SF

      889 Bushwick Ave

      APARTMENT HOUSE (5+ UNITS) • 37,405 SF
      889 Bushwick Ave, Brooklyn, NY 11221-6524
      View Details
    • Value Estimation
      $1,385,000
      6,129 SF

      99 Grv St

      APARTMENT HOUSE (5+ UNITS) • 6,129 SF
      99 Grv St, Brooklyn, NY 11221-8518
      View Details
    • Value Estimation
      $970,000
      74,250 SF

      159 Himrod St

      APARTMENT HOUSE (5+ UNITS) • 74,250 SF
      159 Himrod St, Brooklyn, NY 11221
      View Details
    • Value Estimation
      $5,265,000
      30,919 SF

      275 Kosciuszko St

      APARTMENT HOUSE (5+ UNITS) • 30,919 SF
      275 Kosciuszko St, Brooklyn, NY 11221-5569
      View Details

    Similar Nearby for Sale

    • $2,200,000
      5,661 SF

      Stuyvesant Heights Multifamily Investment

      Classic six-family building in Stuyvesant Heights with cash flow.
      690 Monroe St, Brooklyn, NY 11221
      View Details
    • Contact for pricing

      Bushwick Brownstone Mini-Mansion with Garage

      Restored three-level brownstone with finished basement, garage, and development potential.
      1181 Bushwick Ave, Brooklyn, NY 11221
      View Details
    • $499,000

      Brooklyn Multifamily Property For Sale

      Multifamily property available in Brooklyn, New York.
      101 Linden St, Brooklyn, NY 11221
      View Details
    • $1,690,000
      0.04 Acres

      Mixed-Use Building in Bedford Stuyvesant

      Mixed-use building with retail and residential units in Brooklyn.
      226 Marcus Garvey Blvd, Brooklyn, NY 11221
      View Details
    • $1,549,000

      Multifamily Home with Eight Bedrooms

      Three-unit multifamily home featuring eight bedrooms and three bathrooms.
      1245 Madison St, Brooklyn, NY 11221
      View Details
    • Contact for pricing

      Bedford-Stuyvesant Condo with Private Cabana

      Two-bedroom condo with three private outdoor spaces and deeded storage.
      654 Jefferson Ave, Brooklyn, NY 11221
      View Details

    Similar Nearby for Lease

    • $4,000 /Mo

      Brooklyn Apartment for Rent

      Apartment for rent in Brooklyn, NY, priced at $4000.
      1137 Jefferson Ave, Brooklyn, NY 11221
      View Details
    • Contact for pricing

      Bushwick One-Bedroom Apartment Rental

      Top-floor, one-bedroom apartment near Central Avenue M station.
      677 Hart St, Brooklyn, NY 11221
      View Details
    • $2,700 /Mo

      Brooklyn Multifamily Property for Rent

      Multifamily property for rent in Brooklyn, NY. No pets.
      668 Greene Ave, Brooklyn, NY 11221
      View Details
    • $3,900 /Mo

      Spacious 3-Bedroom with Outdoor Space

      Full-floor 3-bedroom apartment with private outdoor space in Brooklyn.
      730 Monroe St, Brooklyn, NY 11221
      View Details
    • New
      $2,550 /Mo
      950 SF

      Spacious Brooklyn Apartment Near Transit

      Large 2-bedroom apartment near J and Z trains.
      1501 Broadway, Brooklyn, NY 11221
      View Details
    • $5,500 /Mo
      2,500 SF

      Bushwick Mixed-Use Space Available

      Commercial space with full basement in Brooklyn's Bushwick neighborhood.
      229 Central Ave, Brooklyn, NY 11221
      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.
    340 Evergreen Ave
    Brooklyn, NY 11221-6627
    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.