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

    4824 16th Ave Brooklyn, NY 11204-1108

    • Investment properties
    • 2,080 SF
    • 0.03 lot acres
    OFF-MARKET
    Last Sale
    Sep 19, 2023
    Value Estimations
    $340,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2451179
    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

    • Schwartz Appetizing / Gourmet Grocery Store

    Property Details for 4824 16th Ave

    Year built
    1931
    Lot size
    0.03 lot acres
    Property size
    2,080 SF
    Zone code
    R6
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    05447-0045
    APU
    54470045

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $330,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $349,000
      Market price range: $210k - $350k

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9856
    Latitude
    40.6312
    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
    $15,319
    $16,650
    $135,450
    $152,100
    -
    $37,000
    $301,000
    $338,000

    Comparable in this City

    • Value Estimation
      $1,355,000
      3,340 SF

      2235 65th St

      STORE/OFFICE (MIXED USE) • 3,340 SF
      2235 65th St, Brooklyn, NY 11204-4001
      View Details
    • Value Estimation
      $1,585,000
      2,782 SF

      7216 18th Ave

      STORE/OFFICE (MIXED USE) • 2,782 SF
      7216 18th Ave, Brooklyn, NY 11204-5632
      View Details
    • Value Estimation
      $290,000
      1,480 SF

      5216 16th Ave

      STORE/OFFICE (MIXED USE) • 1,480 SF
      5216 16th Ave, Brooklyn, NY 11204-1408
      View Details
    • Value Estimation
      $400,000
      6,820 SF

      6718 Bay Pkwy

      STORE/OFFICE (MIXED USE) • 6,820 SF
      6718 Bay Pkwy, Brooklyn, NY 11204-4734
      View Details
    • Value Estimation
      $435,000
      2,880 SF

      6712 Bay Pkwy

      STORE/OFFICE (MIXED USE) • 2,880 SF
      6712 Bay Pkwy, Brooklyn, NY 11204-4734
      View Details
    • Value Estimation
      $345,000
      2,200 SF

      5004 16th Ave

      STORE/OFFICE (MIXED USE) • 2,200 SF
      5004 16th Ave, Brooklyn, NY 11204-1404
      View Details

    Similar Nearby for Sale

    • $1,288,000

      Mixed-Use Building in Bensonhurst

      Mixed-use two-family building with storefront and apartments in Brooklyn.
      7211 20Th Ave, Brooklyn, NY 11204
      View Details
    • $1,499,000
      2,840 SF

      Brooklyn Mixed-Use Income Property

      Well-maintained mixed-use property with commercial and residential units in Brooklyn.
      2500 65Th St, Brooklyn, NY 11204
      View Details
    • $1,899,000
      3,300 SF

      Bensonhurst Mixed-Use Opportunity

      Mixed-use property in prime location with high visibility and rental potential.
      6308 Bay Pkwy, Brooklyn, NY 11204
      View Details
    • New
      $5,999,000
      15,800 SF

      Brooklyn Mixed-Use Investment Opportunity

      Three mixed-use buildings with established businesses in a desirable Brooklyn neighborhood.
      6119 20Th Ave, Brooklyn, NY 11204
      View Details
    • $1,125,000
      0.05 Acres

      Brooklyn Mixed-Use Development Opportunity

      Mixed-use property with development potential in Brooklyn, New York.
      161 Avenue O, Brooklyn, NY 11204
      View Details
    • $2,000,000
      0.05 Acres

      Gravesend Mixed-Use Investment Property

      Five-family building with one store in Gravesend, Brooklyn.
      22 Avenue O, Brooklyn, NY 11204
      View Details

    Similar Nearby for Lease

    • $43 SF/Yr
      1,104 SF

      Bensonhurst Office Space For Lease

      Prime Bensonhurst Office: 1,104 sq ft
      1600 5Th St, Brooklyn, NY 11204
      View Details
    • $2,500 /Mo
      4,000 SF

      Brooklyn Retail Space For Rent

      Retail space available for lease in Brooklyn, New York.
      2010 Bay Ridge Pkwy, Brooklyn, NY 11204
      View Details
    • Contact for pricing
      500 SF

      Renovated Office Space Available

      Ground floor, corner office space in professional building.
      2276 65Th St, Brooklyn, NY 11204
      View Details
    • $4,500 /Mo
      750 SF

      Prime Boro Park Retail Space

      Retail space for rent on bustling 16th Ave.
      4410 16Th Ave, Brooklyn, NY 11204
      View Details
    • $3,200 /Mo
      1,104 SF

      Bensonhurst Commercial Unit for Rent

      Commercial unit in Bensonhurst, previously a medical office, for rent.
      1600 West 5Th St, Brooklyn, NY 11204
      View Details
    • Contact for pricing
      800 SF

      Prime Brooklyn Medical Office Space

      800 SF Vacant Medical Office in Brooklyn
      1080 Mcdonald Ave, Brooklyn, NY 11204
      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.
    4824 16th Ave
    Brooklyn, NY 11204-1108
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.