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

    59 Avenue U Brooklyn, NY 11223

    • Retail space
    • 8,000 SF
    • 0.18 lot acres
    For Sale
    View listing
    $4,500,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-1714707
    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

    • Retail space

    Property Details for 59 Avenue U

    Year built
    1931
    Lot size
    0.18 lot acres
    Property size
    8,000 SF
    Zone code
    R5B
    Property type
    Retail space
    APN
    07094-0042
    APU
    70940042

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,906,000
      Market price range: $3.66M - $9.79M

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9825
    Latitude
    40.5962
    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
    $52,430
    $101,250
    $393,750
    $495,000
    -
    $225,000
    $875,000
    $1,100,000

    Comparable in this City

    • Value Estimation
      $1,070,000
      2,271 SF

      2793 86th St

      RETAIL STORES (PERSONAL SERVICES) • 2,271 SF
      2793 86th St, Brooklyn, NY 11223-4433
      View Details
    • Value Estimation
      $7,245,000
      12,900 SF

      175 Kings Hwy, Unit 195

      RETAIL STORES (PERSONAL SERVICES) • 12,900 SF
      175 Kings Hwy, Brooklyn, NY 11223-1105
      View Details
    • Value Estimation
      $890,000
      1,814 SF

      165 Kings Hwy

      RETAIL STORES (PERSONAL SERVICES) • 1,814 SF
      165 Kings Hwy, Brooklyn, NY 11223-1023
      View Details
    • Value Estimation by Request
      8,000 SF

      2067 Coney Is Ave, Unit 2073

      RETAIL STORES (PERSONAL SERVICES) • 8,000 SF
      2067 Coney Is Ave, Brooklyn, NY 11223-3254
      View Details
    • Value Estimation
      $980,000
      2,400 SF

      2417 Mcdonald Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,400 SF
      2417 Mcdonald Ave, Brooklyn, NY 11223-5230
      View Details
    • Value Estimation
      $6,510,000
      10,522 SF

      287 Kings Hwy

      RETAIL STORES (PERSONAL SERVICES) • 10,522 SF
      287 Kings Hwy, Brooklyn, NY 11223
      View Details

    Similar Nearby for Sale

    • $1,495,000
      3,907 SF

      Brooklyn Mixed-Use Investment Opportunity

      Versatile mixed-use building in Brooklyn with commercial and residential units.
      174 Avenue S, Brooklyn, NY 11223
      View Details
    • $1,888,888
      3,200 SF

      Renovated Mixed-Use Corner Property

      Completely renovated mixed-use property with stores and apartments in Brooklyn.
      2010 West 9Th St, Brooklyn, NY 11223
      View Details
    • $4,000,000
      3,403 SF

      Renovated Commercial Gem on Avenue U

      Turnkey commercial property with high visibility and development potential.
      816 Avenue U, Brooklyn, NY 11223
      View Details
    • $1,200,000
      2,817 SF

      Fully Occupied Retail Property

      Retail property with pharmacy and construction office tenants.
      2845 86Th St, Brooklyn, NY 11223
      View Details
    • $1,180,000
      3,200 SF

      Brooklyn Commercial Condo on Kings

      Commercial condo in prime Brooklyn location, ideal for retail/office.
      390 Kings Hwy, Brooklyn, NY 11223
      View Details
    • $3,500,000
      5,670 SF

      Renovated Mixed-Use Brooklyn Property

      Newly renovated mixed-use property with commercial and residential units.
      122 Avenue T, Brooklyn, NY 11223
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,000 SF

      Brooklyn Retail Space For Rent

      Retail space available in Brooklyn's Midwood neighborhood.
      1763 Mcdonald Ave, Brooklyn, NY 11223
      View Details
    • $3,200 /Mo
      1,360 SF

      Brooklyn Retail/Professional Space Available

      1400 sq ft office space in Homecrest shopping district.
      2370 Coney Island Ave, Brooklyn, NY 11223
      View Details
    • Contact for pricing
      1,800 SF

      Retail Space with Corner Frontage

      Retail space featuring high ceilings and wraparound corner frontage.
      248 Avenue X, Brooklyn, NY 11223
      View Details
    • Contact for pricing
      600 SF

      Retail Space Near Barclay’s Center

      Retail space in high-traffic area near Barclay’s Center.
      2226 E 4Th St, Brooklyn, NY 11223
      View Details
    • $11,000 /Mo
      4,000 SF

      Retail Space in Gravesend Location

      Retail space for rent in high-traffic Brooklyn area.
      2455 Mcdonald Ave, Brooklyn, NY 11223
      View Details
    • $3,250,000
      1,200 SF

      Retail Space in Park Slope

      Retail space for rent in desirable Brooklyn neighborhood.
      4th Avenue, Brooklyn, NY 11223
      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.
    59 Avenue U
    Brooklyn, NY 11223
    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.