Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    645 5th Ave Brooklyn, NY 11215-8443
    Back to Search
    Property profile & analytics

    645 5th Ave Brooklyn, NY 11215-8443

    View on Map
    • Retail residential properties
    • 7,596 SF
    • 0.06 lot acres
    Off-Market
    Property ID
    US63-3428107
    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.
    Value Estimations
    $2,370,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Model Munch / Big Box & Wholesale Store

    Property Details for 645 5th Ave

    Year built
    2022
    Lot size
    0.06 lot acres
    Property size
    7,596 SF
    Zone code
    R6A
    Property type
    Retail residential properties
    APN
    00879-0006
    APU
    8790006

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9917
    Latitude
    40.6626
    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
    $86,551
    $89,550
    $634,500
    $724,050
    -
    $199,000
    $1,410,000
    $1,609,000

    Comparable in this City

    • Value Estimation
      $5,450,000
      16,470 SF

      820 President St, Unit 15

      STORES & APARTMENTS • 16,470 SF
      820 President St, Brooklyn, NY 11215-1454
      View Details
    • Value Estimation
      $2,405,000
      6,168 SF

      271 Prospect W Park

      STORES & APARTMENTS • 6,168 SF
      271 Prospect W Park, Brooklyn, NY 11215-6672
      View Details
    • Value Estimation
      $2,455,000
      5,720 SF

      268 Prospect W Park

      STORES & APARTMENTS • 5,720 SF
      268 Prospect W Park, Brooklyn, NY 11215-6668
      View Details
    • Value Estimation
      $4,385,000
      10,400 SF

      173 7th Ave, Unit 8

      STORES & APARTMENTS • 10,400 SF
      173 7th Ave, Brooklyn, NY 11215-2610
      View Details
    • Value Estimation
      $2,280,000
      5,400 SF

      443 3rd Ave, Unit 8

      STORES & APARTMENTS • 5,400 SF
      443 3rd Ave, Brooklyn, NY 11215-3126
      View Details
    • Value Estimation
      $970,000
      3,000 SF

      506 5th Ave

      STORE/OFFICE (MIXED USE) • 3,000 SF
      506 5th Ave, Brooklyn, NY 11215-4812
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,955 SF

      Park Slope Mixed-Use Building

      Three-unit mixed-use building in prime Park Slope location.
      474 5Th Ave, Brooklyn, NY 11215
      View Details
    • $1,650,000
      4,200 SF

      Mixed-Use Building Near Prospect Park

      Mixed-use building with retail space and apartments near Prospect Park.
      238 Prospect Park West, Brooklyn, NY 11215
      View Details
    • Contact for pricing
      4,400 SF

      Spacious Loft-Style Work/Play Opportunity

      4,000 SF loft in Brooklyn for residential/professional use.
      15 Denton Pl, Brooklyn, NY 11215
      View Details
    • $6,850,000
      6,500 SF

      Rare Park Slope Loft Building

      Expansive Brooklyn residence with art gallery and private rooftop.
      676 Union St, Brooklyn, NY 11215
      View Details
    • $6,850,000
      6,500 SF

      Park Slope Loft Building

      Rare 6,500 sq ft Brooklyn sanctuary with art gallery.
      676 Union St, Brooklyn, NY 11215
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Duplex with Garden Access

      Refined duplex with direct access to a landscaped garden.
      297 3Rd Ave, Brooklyn, NY 11215
      View Details
    • $37 SF/Yr
      11,500 SF

      Prime Brooklyn Office Space

      Spacious lofts, Manhattan views, build-out available.
      84 14Th St, Brooklyn, NY 11215
      View Details
    • Contact for pricing

      Brooklyn Warehouse with Mezzanine

      6,000 SF Brooklyn warehouse space with modern infrastructure.
      65 13Th St, Brooklyn, NY 11215
      View Details
    • Contact for pricing
      6,537 SF

      Fixtured Restaurant, Bar, Rooftop Space

      Restaurant, bar, and rooftop opportunity near Union Street subway.
      645-649 Union St, Brooklyn, NY 11215
      View Details
    • Contact for pricing
      1,446 SF

      Park Slope Corner Retail Space

      Corner retail space in Park Slope available Q1 2025.
      487 4Th Ave, Brooklyn, NY 11215
      View Details
    • $5,000 /Mo

      Storefront with Basement for Rent

      2000 SF storefront with basement available for short-term lease.
      542 5Th Ave, Brooklyn, NY 11215
      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.
    645 5th Ave
    Brooklyn, NY 11215-8443
    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

    Thank You for Inquiry
    645 5th Ave, Brooklyn, NY, 11215
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!