Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    397 Atlantic Ave Brooklyn, NY 11217-5038
    Back to Search
    Property profile & analytics

    397 Atlantic Ave Brooklyn, NY 11217-5038

    View on Map
    • Retail residential properties
    • 14,500 SF
    • 0.07 lot acres
    Off-Market
    Last Sale Mar 2, 2022
    $9,250,000
    Property ID
    US63-1182106
    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.
    Value Estimations
    $9,415,000
    Show details
    Cap Rate Potential
    5.5%
    Retail residential properties
    Location Intelligence

    Current Use by Public Records

    • Retail residential properties

    Property Details for 397 Atlantic Ave

    Year built
    2004
    Lot size
    0.07 lot acres
    Property size
    14,500 SF
    Zone code
    R7A
    Property type
    Retail residential properties
    APN
    00177-0034
    APU
    1770034

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $9,570,000
      ML approach
      $9,600,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $8,775,000
      6.5%
      $8,100,000
      7%
      $7,520,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $11,129,000
      Market price range: $9.54M - $16.8M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $12,025,000
      Current use
      AUTO REPAIR, GARAGE
      $11,520,000
      Change: -4% Conversion: Difficult
      RETAIL STORES
      $11,165,000
      Change: -7% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9848
    Latitude
    40.6872
    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
    $216,111
    $73,350
    $1,873,800
    $1,947,150
    -
    $163,000
    $4,164,000
    $4,327,000

    Comparable in this City

    • Value Estimation
      $2,965,000
      6,769 SF

      182 4th Ave

      STORE/OFFICE (MIXED USE) • 6,769 SF
      182 4th Ave, Brooklyn, NY 11217-3110
      View Details
    • Value Estimation
      $3,965,000
      10,000 SF

      47 5th Ave

      STORES & APARTMENTS • 10,000 SF
      47 5th Ave, Brooklyn, NY 11217-2024
      View Details
    • Value Estimation
      $2,175,000
      4,400 SF

      111 5th Ave

      STORES & APARTMENTS • 4,400 SF
      111 5th Ave, Brooklyn, NY 11217-3279
      View Details
    • Value Estimation
      $4,350,000
      9,000 SF

      90 7th Ave

      STORES & APARTMENTS • 9,000 SF
      90 7th Ave, Brooklyn, NY 11217-3777
      View Details
    • Value Estimation
      $11,990,000
      36,047 SF

      686 Fulton St

      STORES & APARTMENTS • 36,047 SF
      686 Fulton St, Brooklyn, NY 11217-1609
      View Details
    • Value Estimation
      $8,230,000
      24,837 SF

      601 Baltic St

      STORES & APARTMENTS • 24,837 SF
      601 Baltic St, Brooklyn, NY 11217-2706
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,220 SF

      Mixed-Use Building Value-Add Potential

      Three-story mixed-use building with retail and residential units.
      191 Bond St, Brooklyn, NY 11217
      View Details
    • $7,000,000

      Two Townhouses with Development Potential

      Two adjacent townhouses in Boerum Hill with exceptional development potential.
      446 State St, Brooklyn, NY 11217
      View Details
    • $3,200,000

      Boerum Hill Mixed-Use Building

      Mixed-use building in prime Boerum Hill location near Barclays.
      40 4Th Ave, Brooklyn, NY 11217
      View Details
    • New
      $2,995,000
      3,000 SF

      Renovated Mixed-Use Brooklyn Townhouse

      Mixed-use townhouse with apartments and commercial space in Boerum Hill.
      76 Nevins St, Brooklyn, NY 11217
      View Details
    • $2,700,000
      0.02 Acres

      Brooklyn 8-Family Investment Opportunity

      Fully leased, renovated 8-family building in prime Prospect Heights location.
      60 6Th Ave, Brooklyn, NY 11217
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Mixed-Use Retail Space in Brooklyn

      Retail spaces in 180-unit mixed-use development with on-site parking.
      120 5Th Ave, Brooklyn, NY 11217
      View Details
    • Contact for pricing

      Fort Greene Retail Space Available

      Retail space in prime Fort Greene corridor, all uses considered.
      65 Lafayette Ave, Brooklyn, NY 11217
      View Details
    • Contact for pricing

      Retail Space at 4th Avenue

      Retail space available at the corner of 4th Avenue.
      164 4Th Ave, Brooklyn, NY 11217
      View Details
    • Contact for pricing
      4,990 SF

      Prime Retail Space Above Transit

      Retail space above major transit hub in Brooklyn, NY.
      139 Flatbush Ave, Brooklyn, NY 11217
      View Details
    • Contact for pricing
      1,100 SF

      Retail Space Near Barclays Center

      Retail space near Barclays Center and Atlantic Terminal Mall.
      239 Flatbush Ave, Brooklyn, NY 11217
      View Details
    • Contact for pricing
      875 SF

      Retail Space in High-Traffic Location

      Retail space with high ceilings and lower-level storage.
      172 5Th Ave, Brooklyn, NY 11217
      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.
    397 Atlantic Ave
    Brooklyn, NY 11217-5038
    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

    Thank You for Inquiry
    397 Atlantic Ave, Brooklyn, NY, 11217
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!