Add Listing
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

    517 Park Ave Brooklyn, NY 11205-1783

    • Office buildings
    • 22,085 SF
    • 0.28 lot acres
    OFF-MARKET
    Value Estimations
    $6,790,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3025266
    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

    • Joel Arbisser / Ophthalmologist
    • Dr Chandrakant M. Patel / Pediatrician / Medical Clinic
    • UPS Access Point location / Courier Service / Postal Service
    • Vape Shop Nic Drops / (Bike/Boat/Book/etc) Store
    • Gala's Custom Design / (Bike/Boat/Book/etc) Store

    Property Details for 517 Park Ave

    Year built
    1931
    Lot size
    0.28 lot acres
    Property size
    22,085 SF
    Zone code
    M1-2
    Property type
    Office buildings
    APN
    01715-0003
    APU
    17150003

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $9,795,000
      6.5%
      $9,040,000
      7%
      $8,395,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $4,383,000
      Market price range: $729k - $7.93M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $11,070,000
      APARTMENT HOUSE (5+ UNITS)
      $10,400,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.956
    Latitude
    40.6971
    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
    $147,987
    $408,600
    $1,213,200
    $1,621,800
    -
    $908,000
    $2,696,000
    $3,604,000

    Comparable in this City

    • Value Estimation
      $8,470,000
      25,637 SF

      369 Park Ave

      OFFICE BUILDING (MULTI-STORY) • 25,637 SF
      369 Park Ave, Brooklyn, NY 11205-2635
      View Details
    • Value Estimation
      $10,000,000
      22,695 SF

      470-472 Flushing Ave

      OFFICE BUILDING (MULTI-STORY) • 22,695 SF
      470-472 Flushing Ave, Brooklyn, NY 11205
      View Details
    • Value Estimation
      $1,500,000
      4,990 SF

      12 Clermont Ave

      OFFICE BUILDING (MULTI-STORY) • 4,990 SF
      12 Clermont Ave, Brooklyn, NY 11205-1106
      View Details
    • Value Estimation
      $2,555,000
      9,400 SF

      418 Myrtle Ave

      OFFICE BUILDING (MULTI-STORY) • 9,400 SF
      418 Myrtle Ave, Brooklyn, NY 11205-2412
      View Details
    • Value Estimation
      $16,310,000
      52,628 SF

      18 Spencer St

      OFFICE BUILDING (MULTI-STORY) • 52,628 SF
      18 Spencer St, Brooklyn, NY 11205-5404
      View Details
    • Value Estimation
      $8,430,000
      37,500 SF

      48-52 Spencer St

      OFFICE BUILDING (MULTI-STORY) • 37,500 SF
      48-52 Spencer St, Brooklyn, NY 11205
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      14,745 SF

      Mixed-Use Building with Tax Abatement

      New mixed-use building with commercial space and residential units.
      267 Franklin Ave, Brooklyn, NY 11205
      View Details
    • Contact for pricing
      178,856 SF

      Brooklyn Commercial Space with M1-2 Zoning

      Large commercial property in Williamsburg with flexible M1-2 zoning.
      6771 Kent Ave, Brooklyn, NY 11205
      View Details
    • Contact for pricing
      12,000 SF

      Corner Lots in Bedford-Stuyvesant

      Two contiguous lots in a rapidly developing area.
      832 Kent Ave, Brooklyn, NY 11205
      View Details
    • $599,000
      Pending

      Brooklyn Apartment Building For Sale

      Apartment building for sale in Brooklyn, New York.
      149 Clinton Ave, Brooklyn, NY 11205
      View Details
    • $750,000
      Pending

      Brooklyn Apartment Building For Sale

      Apartment building located in Brooklyn, New York.
      325 Clinton Ave, Brooklyn, NY 11205
      View Details
    • $2,650,000

      Cash-Flowing Duplex in Prime Location

      Fully occupied duplex generating $8,000/month in vibrant neighborhood.
      181 Park Ave, Brooklyn, NY 11205
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      571 SF

      New Williamsburg Professional Office Space

      New professional office building in prime Williamsburg location.
      31 Spencer St, Brooklyn, NY 11205
      View Details
    • Contact for pricing
      4,408 SF

      Brooklyn Office Space with Features

      Office space featuring natural light, timber, and brick.
      75-77 Washington Ave, Brooklyn, NY 11205
      View Details
    • Contact for pricing
      2,700 SF

      Brooklyn Storefront with High Ceilings

      2700 SF Brooklyn storefront featuring high ceilings and basement.
      507 Dekalb Ave, Brooklyn, NY 11205
      View Details
    • Contact for pricing
      1,200 SF

      Modern Office Space Available

      Ground floor office with modern design and rooftop access.
      200 Classon Ave, Brooklyn, NY 11205
      View Details
    • Contact for pricing
      650 SF

      Brooklyn Office Space with Basement

      Office space for rent featuring a basement and kitchenette.
      234 Walworth St, Brooklyn, NY 11205
      View Details
    • Contact for pricing
      850 SF

      Newly Built Basement Office Space

      850 SF basement office with separate entrance and bathrooms.
      177 Nostrand Ave, Brooklyn, NY 11205
      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.
    517 Park Ave
    Brooklyn, NY 11205-1783
    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.
    Sign Up Successful!
    You now have access to more from Realmo!