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

    603-605 Bergen St Brooklyn, NY 11238

    • Office Properties & Spaces
    • 10,000 SF
    • 0.13 lot acres
    OFF-MARKET
    Value Estimations
    $2,970,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-1213283
    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 Properties & Spaces

    Property Details for 603-605 Bergen St

    Year built
    1930
    Lot size
    0.13 lot acres
    Property size
    10,000 SF
    Zone code
    M1-1
    Property type
    Office Properties & Spaces
    APN
    01137-0073
    APU
    11370073

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9699
    Latitude
    40.68
    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
    $57,426
    $49,500
    $537,750
    $587,250
    -
    $110,000
    $1,195,000
    $1,305,000

    Comparable in this City

    • Value Estimation by Request
      20,009 SF

      1104 Pacific St

      Refrigerated & Cold Storages • 20,009 SF
      1104 Pacific St, Brooklyn, NY 11238
      View Details
    • Value Estimation by Request
      13,251 SF

      596 Prospect Pl

      Medical offices • 13,251 SF
      596 Prospect Pl, Brooklyn, NY 11238
      View Details
    • Value Estimation by Request

      450 Grand Ave, Unit COM-5

      CONDOMINIUM OFFICES
      450 Grand Ave, Brooklyn, NY 11238-7634
      View Details
    • Value Estimation by Request
      998 SF

      381 Carlton Ave, Unit 2B

      OFFICE (GENERAL) • 998 SF
      381 Carlton Ave, Brooklyn, NY 11238-1018
      View Details
    • Value Estimation
      $2,755,000
      7,568 SF

      235 Saint Marks Ave, Unit 1002

      OFFICE (GENERAL) • 7,568 SF
      235 Saint Marks Ave, Brooklyn, NY 11238-3530
      View Details
    • Value Estimation by Request
      7,154 SF

      990 Fulton St

      Medical offices • 7,154 SF
      990 Fulton St, Brooklyn, NY 11238
      View Details

    Similar Nearby for Sale

    • $1,450,000

      Prime Brooklyn Medical Office

      2050 SF Medical Co-op, Move-In Ready
      20 Plaza St, Brooklyn, NY 11238
      View Details
    • $1,450,000
      2,050 SF

      Medical Co-op in Prime Location

      Rare medical co-op with private entrance near Grand Army Plaza.
      20 Plaza St E, Brooklyn, NY 11238
      View Details
    • Contact for pricing
      5,142 SF

      Crown Heights Commercial Condos For Sale

      Two adjacent vacant commercial condos in Crown Heights for sale.
      1000 Dean St, Brooklyn, NY 11238
      View Details
    • Contact for pricing
      4,650 SF

      Vacant Brooklyn Apartment Building

      Five-story, 4,650 SF vacant apartment building in Brooklyn, NY.
      477 Washington Ave, Brooklyn, NY 11238
      View Details
    • $1,399,000

      Brooklyn Apartment Building For Sale

      Apartment building located at 10 PLAZA St 15A, Brooklyn, NY.
      10 Plaza St, Brooklyn, NY 11238
      View Details
    • $1,150,000

      Brooklyn Specialty Property For Sale

      Specialty property available in Brooklyn, New York.
      125 Eastern Pkwy, Brooklyn, NY 11238
      View Details

    Similar Nearby for Lease

    • $34 SF/Yr
      1,382 SF

      Prime Brooklyn Retail/Office Space

      1,382 SF, 2-Story Building, 11-15' Ceilings
      617 Washington Ave, Brooklyn, NY 11238
      View Details
    • Contact for pricing
      7,500 SF

      Prime Brooklyn Retail Spaces

      Flatbush Ave. retail, high traffic, Barclays Center proximity
      0 Brooklyn Ny, Brooklyn, NY 11238
      View Details
    • Contact for pricing
      13,251 SF

      Prospect Place Medical Office Space

      Brooklyn Medical Office Building - For Lease
      596 Prospect Pl, Brooklyn, NY 11238
      View Details
    • $40 SF/Yr
      20,009 SF

      Prime Franklin Ave. Office Space

      Versatile multi-use building, 20,009 sq ft.
      1104 Pacific St, Brooklyn, NY 11238
      View Details
    • $3,000 /Mo
      800 SF

      Brooklyn Mixed-Use Commercial Space

      800 SF mixed-use space in Prospect Heights, Brooklyn.
      944 Atlantic Ave, Brooklyn, NY 11238
      View Details
    • Contact for pricing
      3,349 SF

      Prime Brooklyn Medical Office Space

      Spacious Medical Office Suite Available
      829-847 Atlantic Ave, Brooklyn, NY 11238
      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.
    603-605 Bergen St
    Brooklyn, NY 11238
    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.