Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    398 Gates Ave Brooklyn, NY 11216-1403
    Back to Search
    Property profile & analytics

    398 Gates Ave Brooklyn, NY 11216-1403

    View on Map
    • Auto shops
    • 1,920 SF
    • 0.04 lot acres
    Off-Market
    Last Sale Jan 14, 2026
    $2,000,000
    Property ID
    US63-5776920
    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
    $1,830,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Auto shops

    Property Details for 398 Gates Ave

    Year built
    1931
    Lot size
    0.04 lot acres
    Property size
    1,920 SF
    Zone code
    R6A
    Property type
    Auto shops
    APN
    01813-0010
    APU
    18130010

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,484,000
      Market price range: $665k - $2.71M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $1,525,000
      Current use
      RETAIL STORES
      $1,480,000
      Change: -3% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9503
    Latitude
    40.6861
    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
    $7,502
    $8,550
    $79,200
    $87,750
    -
    $19,000
    $176,000
    $195,000

    Comparable in this City

    • Value Estimation by Request
      0.03 Acres

      307 Nostrand Ave

      AUTO REPAIR, GARAGE • 0.03 Acres
      307 Nostrand Ave, Brooklyn, NY 11216
      View Details
    • Value Estimation by Request
      150 SF

      1392 Bedford Ave

      AUTO REPAIR, GARAGE • 150 SF
      1392 Bedford Ave, Brooklyn, NY 11216-3507
      View Details
    • Value Estimation by Request
      0.05 Acres

      Gates Ave

      AUTO REPAIR, GARAGE • 0.05 Acres
      Gates Ave, Brooklyn, NY 11216
      View Details
    • Value Estimation
      $505,000
      5,130 SF

      21-25 Herkimer Pl

      AUTO REPAIR, GARAGE • 5,130 SF
      21-25 Herkimer Pl, Brooklyn, NY 11216
      View Details
    • Value Estimation
      $1,045,000
      20,000 SF

      1310 Atlantic Ave, Unit 1318

      AUTO REPAIR, GARAGE • 20,000 SF
      1310 Atlantic Ave, Brooklyn, NY 11216-2811
      View Details
    • Value Estimation by Request
      0.11 Acres

      Gates Ave

      AUTO REPAIR, GARAGE • 0.11 Acres
      Gates Ave, Brooklyn, NY 11216
      View Details

    Similar Nearby for Sale

    • $6,000,000

      Mixed-Use Portfolio in Bedford-Stuyvesant

      Mixed-use investment opportunity in vibrant Bedford-Stuyvesant, Brooklyn.
      1397 Fulton St, Brooklyn, NY 11216
      View Details
    • Contact for pricing
      3,200 SF

      Brooklyn Retail Space For Sale

      Retail space in prime Brooklyn location, strong customer base.
      1448 Bedford Ave, Brooklyn, NY 11216
      View Details
    • $3,600,000

      Brooklyn Commercial Building on Bedford

      Three-story, fully detached commercial building in Bedford-Stuyvesant for sale.
      1281 Bedford Ave, Brooklyn, NY 11216
      View Details
    • $7,250,000
      11,250 SF

      Renovated Commercial Building in Brooklyn

      Versatile 11,250 SF commercial space in Bedford-Stuyvesant/Clinton Hill.
      405 Gates Ave, Brooklyn, NY 11216
      View Details
    • Contact for pricing
      22,671 SF

      Brooklyn Land with Development Potential

      Land in prime Brooklyn location with excellent transit connectivity.
      1227-1231 Pacific St, Brooklyn, NY 11216
      View Details
    • Contact for pricing

      Brooklyn Retail Building with Abatement

      16,073 SF Brooklyn building with tax abatement.
      1245 Fulton St, Brooklyn, NY 11216
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Brooklyn Commercial Space For Rent

      High-quality commercial rentals in Brooklyn's Bed-Stuy neighborhood.
      1217 Bedford Ave, Brooklyn, NY 11216
      View Details
    • Contact for pricing
      850 SF

      Bedford Avenue Corner Retail Space

      Prime corner retail space on Bedford Avenue, Brooklyn.
      1047 Bedford Ave, Brooklyn, NY 11216
      View Details
    • $6,500 /Mo

      1440 Fulton St

      1700 SF Ground Floor in Bedstuy's Retail Corridor
      1440 Fulton St, Brooklyn, NY 11216
      View Details
    • $7,500 /Mo
      1,800 SF

      Brooklyn Commercial Space for Lease

      Prime commercial space in vibrant Bed-Stuy, Brooklyn. High foot traffic.
      417 Marcus Garvey Blvd, Brooklyn, NY 11216
      View Details
    • Contact for pricing

      Avon Hall: Retail, Office, Studio

      Commercial rentals in Brooklyns Bed-Stuy neighborhood.
      1217 Bedford Ave, Brooklyn, NY 11216
      View Details
    • Contact for pricing

      Retail/Office Space Near C Train

      Retail/office space with high foot traffic, close to C train.
      1559-1561 Fulton St, Brooklyn, NY 11216
      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.
    398 Gates Ave
    Brooklyn, NY 11216-1403
    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
    398 Gates Ave, Brooklyn, NY, 11216
    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!