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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    509 Liberty Ave Brooklyn, NY 11207-3103

    • Office buildings
    • 5,000 SF
    • 0.06 lot acres
    OFF-MARKET
    Value Estimations
    $540,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2291542
    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

    • Funeraria Juan-John's Funeral Home / Funeral Director / Monument Maker

    Property Details for 509 Liberty Ave

    Year built
    1930
    Lot size
    0.06 lot acres
    Property size
    5,000 SF
    Zone code
    M14R6A
    Property type
    Office buildings
    APN
    03961-0026
    APU
    39610026

    Description

    This exceptional mixed-use property at 509 Liberty Avenue in Brooklyn, NY, presents a compelling investment opportunity. The 4,375 square foot building, situated on a 2,500 square foot lot, is a two-story, 25-foot wide corner structure currently housing a ground floor funeral home and two residential apartments above: a two-bedroom and a one-bedroom unit. The property boasts significant development potential, with permitted zoning of M1-4/R6A allowing for a seven-story mixed-use building. This could include ground floor retail space and six floors of two-bedroom apartments, each with abundant natural light, full kitchens and bathrooms, and individual heating and cooling systems. Alternatively, the existing apartments can be renovated and rented at market rates, while the commercial space could be leased to a variety of businesses. The building's location is highly advantageous, just one block from the J and Z subway lines at Fulton Street and Van Siclen Avenue, in an area experiencing substantial growth. The current annual income is projected at $125,700, with annual expenses estimated at $39,732.04, resulting in a projected net operating income of $85,967.96. The asking price is $1,850,000. Additional air rights of 3,125 square feet further enhance the property's development potential. This is a rare opportunity to acquire a mixed-use property in a rapidly developing Brooklyn neighborhood.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $485,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $599,000
      Market price range: $254k - $949k

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.8912
    Latitude
    40.6754
    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
    $26,454
    $56,250
    $252,900
    $309,150
    -
    $125,000
    $562,000
    $687,000

    Comparable in this City

    • Value Estimation
      $1,295,000
      7,874 SF

      161 Jamaica Ave

      OFFICE BUILDING (MULTI-STORY) • 7,874 SF
      161 Jamaica Ave, Brooklyn, NY 11207-2049
      View Details
    • Value Estimation
      $415,000
      2,200 SF

      2108 Linden Blvd

      PROFESSIONAL BUILDING • 2,200 SF
      2108 Linden Blvd, Brooklyn, NY 11207-7411
      View Details
    • Value Estimation
      $365,000
      2,016 SF

      772 Vermont St

      OFFICE BUILDING (MULTI-STORY) • 2,016 SF
      772 Vermont St, Brooklyn, NY 11207-5861
      View Details
    • Value Estimation
      $300,000
      590 SF

      20 Marginal W St

      OFFICE BUILDING (MULTI-STORY) • 590 SF
      20 Marginal W St, Brooklyn, NY 11207-1810
      View Details
    • Value Estimation
      $575,000
      10,000 SF

      102 Pilling St

      OFFICE BUILDING (MULTI-STORY) • 10,000 SF
      102 Pilling St, Brooklyn, NY 11207-1610
      View Details
    • Value Estimation
      $365,000
      1,972 SF

      406 Vermont St

      OFFICE BUILDING (MULTI-STORY) • 1,972 SF
      406 Vermont St, Brooklyn, NY 11207-4214
      View Details

    Similar Nearby for Sale

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      Brooklyn Development Land

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      Vacant Lot in Bushwick, Brooklyn

      Residential zoned vacant land in convenient Brooklyn location.
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    • $1,050,000
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      Brooklyn Quadruplex Investment Opportunity

      Legal four-family brick property in Brooklyn, fully tenanted and income-producing.
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      Brooklyn Mixed-Use Property For Sale

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    Similar Nearby for Lease

    • $55 SF/Yr
      2,710 SF

      Prime Brooklyn Commercial Space

      Retail & Office Suites Available in East New York
      2667 Fulton St, Brooklyn, NY 11207
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    • Contact for pricing
      400,000 SF

      Prime East New York Office Space

      Modern Executive Offices, Broadway Junction
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    • $3,000 /Mo

      Office Space for Rent

      Office space available for rent in Brooklyn, New York.
      141B Pennsylvania Ave, Brooklyn, NY 11207
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    • $2,700 /Mo

      Renovated Office Space in Brooklyn

      Newly renovated office/retail/showroom space in booming Bed Stuy.
      148 Tompkins Ave, Brooklyn, NY 11207
      View Details
    • Contact for pricing
      3,465 SF

      Brooklyn Office Space for Rent

      3,465 SF office space available in Brooklyn, NY.
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    • Contact for pricing
      1,200 SF

      Office Space with Modern Amenities

      Office space featuring HVAC, ADA compliance, and long-term lease options.
      390-412 Liberty Ave, Brooklyn, NY 11207
      View Details
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    509 Liberty Ave
    Brooklyn, NY 11207-3103
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    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
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