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

    5501 Foster Ave, Unit 5509 Brooklyn, NY 11234

    • Office buildings
    • 18,900 SF
    • 1.27 lot acres
    OFF-MARKET
    Value Estimations
    $7,255,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-1495399
    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

    • Office buildings

    Property Details for 5501 Foster Ave

    Year built
    1970
    Lot size
    1.27 lot acres
    Property size
    18,900 SF
    Zone code
    M1-1
    Property type
    Office buildings
    APN
    07949-0283
    APU
    79490283

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $8,385,000
      6.5%
      $7,740,000
      7%
      $7,185,000

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $10,405,000
      Current use
      INDUSTRIAL (GENERAL)
      $10,725,000
      Change: +3% Conversion: Difficult
      RETAIL STORES
      $10,470,000
      Change: +1% Conversion: Moderate
      WAREHOUSE, STORAGE
      $9,470,000
      Change: -9% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9237
    Latitude
    40.6381
    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
    $216,732
    $745,650
    $2,330,550
    $3,076,200
    -
    $1,657,000
    $5,179,000
    $6,836,000

    Comparable in this City

    • Value Estimation
      $12,155,000
      36,000 SF

      2270 Kimball St

      PROFESSIONAL BUILDING • 36,000 SF
      2270 Kimball St, Brooklyn, NY 11234-5139
      View Details
    • Value Estimation
      $3,295,000
      8,000 SF

      2460 Flatbush Ave

      PROFESSIONAL BUILDING • 8,000 SF
      2460 Flatbush Ave, Brooklyn, NY 11234-5013
      View Details
    • Value Estimation
      $2,440,000
      8,160 SF

      1997 Flatbush Ave, Unit 2003

      OFFICE BUILDING (MULTI-STORY) • 8,160 SF
      1997 Flatbush Ave, Brooklyn, NY 11234-3524
      View Details
    • Value Estimation
      $2,075,000
      8,700 SF

      1891 Utica Ave, Unit 1899

      PROFESSIONAL BUILDING • 8,700 SF
      1891 Utica Ave, Brooklyn, NY 11234-3213
      View Details
    • Value Estimation
      $2,485,000
      10,380 SF

      2137 Utica Ave, Unit 2147

      OFFICE BUILDING (MULTI-STORY) • 10,380 SF
      2137 Utica Ave, Brooklyn, NY 11234-3827
      View Details
    • Value Estimation
      $725,000
      2,732 SF

      3226 Kings Hwy

      PROFESSIONAL BUILDING • 2,732 SF
      3226 Kings Hwy, Brooklyn, NY 11234-2655
      View Details

    Similar Nearby for Sale

    • $4,100,000
      12,000 SF

      Modern Brooklyn Office Building

      Class B office/medical building in Brooklyn, ideal for owner-user.
      3041 Avenue U, Brooklyn, NY 11234
      View Details
    • Contact for pricing
      36,000 SF

      Modern Commercial Building For Sale

      Well-maintained commercial building near Kings Plaza with ample parking.
      2270 Kimball St, Brooklyn, NY 11234
      View Details
    • Contact for pricing
      63,000 SF

      Mill Basin Waterfront Development

      63,000 SF six-story mixed-use building in Mill Basin, Brooklyn.
      2150 Mill Ave, Brooklyn, NY 11234
      View Details
    • $1,400,000
      2,650 SF

      Brooklyn Commercial Building For Sale

      Commercial building in Brooklyn, currently an Italian restaurant.
      7409 Avenue U, Brooklyn, NY 11234
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Mill Basin Waterfront Development

      New six-story mixed-use building on Brooklyn waterfront for rent.
      2150 Mill Ave, Brooklyn, NY 11234
      View Details
    • $1,500 /Mo
      800 SF

      Brooklyn Medical Office For Rent

      Medical office in Marine Park, also suitable for other office uses.
      2216 Kimball St, Brooklyn, NY 11234
      View Details
    • Contact for pricing

      Versatile Commercial Building in Brooklyn

      New two-story commercial building with over 17,000 SF available.
      5901 Flatlands Ave, Brooklyn, NY 11234
      View Details
    • $3,650 /Mo
      1,000 SF

      Ground Floor Office with Backyard

      Office space for lease with branding opportunity and storage.
      3610 Quentin Rd, Brooklyn, NY 11234
      View Details
    • Contact for pricing
      11,000 SF

      Prime Brooklyn Executive Office Space

      11,000 SF Available, Kings County
      5322 Avenue, Brooklyn, NY 11234
      View Details
    • $4,800 /Mo
      1,500 SF

      Prime Retail Space Near Kings

      High-traffic Brooklyn location with signage opportunity near Kings Plaza.
      2194 Flatbush Ave, Brooklyn, NY 11234
      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.
    5501 Foster Ave, Unit 5509
    Brooklyn, NY 11234
    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!