Your AI Navigator in Commercial Real Estate
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
    Property profile & analytics

    551 Cres St Brooklyn, NY 11208-3107

    • Office buildings
    • 900 SF
    • 0.03 lot acres
    OFF-MARKET
    Value Estimations
    $275,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2685468
    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

    • Bel Crest Dental: Lillaney Santosh DDS / Dentist

    Property Details for 551 Cres St

    Year built
    1923
    Lot size
    0.03 lot acres
    Property size
    900 SF
    Zone code
    R5
    Property type
    Office buildings
    APN
    04252-0020
    APU
    42520020

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $265,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $455,000
      6.5%
      $420,000
      7%
      $390,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.8695
    Latitude
    40.6743
    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
    $7,712
    $16,200
    $60,750
    $76,950
    -
    $36,000
    $135,000
    $171,000

    Comparable in this City

    • Value Estimation
      $700,000
      7,046 SF

      999 Blake Ave

      PROFESSIONAL BUILDING • 7,046 SF
      999 Blake Ave, Brooklyn, NY 11208-3535
      View Details
    • Value Estimation
      $300,000
      600 SF

      278 Montauk Ave

      OFFICE BUILDING (MULTI-STORY) • 600 SF
      278 Montauk Ave, Brooklyn, NY 11208
      View Details
    • Value Estimation
      $940,000
      45,000 SF

      2554 Linden Blvd, Unit 2566

      OFFICE BUILDING (MULTI-STORY) • 45,000 SF
      2554 Linden Blvd, Brooklyn, NY 11208-4904
      View Details
    • Value Estimation
      $1,080,000
      60,180 SF

      406 Pne St

      OFFICE BUILDING (MULTI-STORY) • 60,180 SF
      406 Pne St, Brooklyn, NY 11208
      View Details
    • Value Estimation
      $1,000,000
      23,165 SF

      607 Conduit Blvd, Unit 635

      PROFESSIONAL BUILDING • 23,165 SF
      607 Conduit Blvd, Brooklyn, NY 11208-3259
      View Details
    • Value Estimation
      $430,000
      1,609 SF

      1084 Liberty Ave

      PROFESSIONAL BUILDING • 1,609 SF
      1084 Liberty Ave, Brooklyn, NY 11208-2923
      View Details

    Similar Nearby for Sale

    • $1,200,000

      Mixed-Use Building in East New York

      Mixed-use building in a fast-developing Brooklyn neighborhood.
      3199 Fulton St, Brooklyn, NY 11208
      View Details
    • $2,699,000
      8,296 SF

      Prime Brooklyn 6-Unit Apartment Building

      New Construction, High Occupancy, Strong NOI
      234 Norwood Ave, Brooklyn, NY 11208
      View Details
    • $835,000

      Glenmore Ave 3-Family Portfolio

      Brooklyn Multifamily Value-Add Opportunity
      801 Glenmore Ave, Brooklyn, NY 11208
      View Details
    • $999,999
      Pending

      Renovated Brooklyn Triplex For Sale

      Meticulously renovated triplex in East New York, perfect for investors.
      341 Essex St, Brooklyn, NY 11208
      View Details
    • $780,000
      Pending

      Brooklyn Duplex Near Transportation

      Two-family home needing work, near transportation and shops.
      823 New Lots Ave, Brooklyn, NY 11208
      View Details
    • $889,000
      2,002 SF

      Brooklyn Multifamily Property with Outdoor Space

      2,200 sq ft Brooklyn multi-family property with outdoor space.
      367 Lincoln Ave, Brooklyn, NY 11208
      View Details

    Similar Nearby for Lease

    • $105 SF/Yr
      4,560 SF

      Fulton Street Commercial Gem

      Cypress Hills Office/Retail Space Available
      3233 Fulton St, Brooklyn, NY 11208
      View Details
    • Contact for pricing
      8,500 SF

      Prime Brooklyn Office Space

      8,500 SF Office, Flexible Layout
      3200 Atlantic Ave, Brooklyn, NY 11208
      View Details
    • $20 SF/Yr
      13,000 SF

      Brooklyn Warehouse: 13,000 SF

      Spacious Brooklyn industrial warehouse for lease.
      870 Stanley Ave, Brooklyn, NY 11208
      View Details
    • Contact for pricing
      4,500 SF

      Prime Brooklyn Retail Space

      4,500 SF Retail Space - Fulton St
      3180 Fulton St, Brooklyn, NY 11208
      View Details
    • $25 SF/Yr
      1,294,400 SF

      Prime Brooklyn Retail Space

      Two Suites Available, 3,236-4,008 SF
      223 Chestnut St, Brooklyn, NY 11208
      View Details
    • $3,500 /Mo

      Brooklyn Apartment with Open Layout

      Three-bedroom apartment near transportation in Brooklyn.
      611 Linwood St, Brooklyn, NY 11208
      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.
    551 Cres St
    Brooklyn, NY 11208-3107
    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.