Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    658 Driggs Ave Brooklyn, NY 11211-6059
    Back to Search
    Property profile & analytics

    658 Driggs Ave Brooklyn, NY 11211-6059

    View on Map
    • Retail residential properties
    • 18,980 SF
    • 0.13 lot acres
    Off-Market
    Last Sale Mar 2, 2020
    Property ID
    US63-2824454
    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
    $7,320,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Kolkata Chai Co - Williamsburg / Cafe & Coffee Shop
    • Westville Williamsburg / Restaurant
    • INDAY All Day / Restaurant

    Property Details for 658 Driggs Ave

    Year built
    2019
    Lot size
    0.13 lot acres
    Property size
    18,980 SF
    Zone code
    M1-2R6A
    Property type
    Retail residential properties
    APN
    02366-0021
    APU
    23660021

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $10,775,000
      OFFICE BUILDING
      $10,450,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9592
    Latitude
    40.7147
    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
    $0.00
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,400,000
      3,150 SF

      218 7th St

      STORES & APARTMENTS • 3,150 SF
      218 7th St, Brooklyn, NY 11211-1275
      View Details
    • Value Estimation
      $8,575,000
      25,689 SF

      178 Broadway

      STORES & APARTMENTS • 25,689 SF
      178 Broadway, Brooklyn, NY 11211-6131
      View Details
    • Value Estimation
      $3,300,000
      7,701 SF

      161 Havemeyer St

      STORES & APARTMENTS • 7,701 SF
      161 Havemeyer St, Brooklyn, NY 11211-5534
      View Details
    • Value Estimation
      $41,850,000
      101,716 SF

      123 Hope St

      STORES & APARTMENTS • 101,716 SF
      123 Hope St, Brooklyn, NY 11211-3982
      View Details
    • Value Estimation
      $8,630,000
      20,466 SF

      247 Bedford Ave

      STORES & APARTMENTS • 20,466 SF
      247 Bedford Ave, Brooklyn, NY 11211-4012
      View Details
    • Value Estimation
      $7,785,000
      27,000 SF

      234 Un Ave

      STORES & APARTMENTS • 27,000 SF
      234 Un Ave, Brooklyn, NY 11211-6520
      View Details

    Similar Nearby for Sale

    • $3,500,000
      3,380 SF

      Williamsburg Mixed-Use Building For Sale

      Mixed-use building in prime Williamsburg location with income potential.
      574 Metropolitan Ave, Brooklyn, NY 11211
      View Details
    • $3,999,000

      Williamsburg Corner Property with Potential

      3-family residence with remodel potential in desirable Brooklyn neighborhood.
      382 Manhattan Ave, Brooklyn, NY 11211
      View Details
    • $3,750,000
      7,700 SF

      Williamsburg Mixed-Use Investment Opportunity

      Mixed-use property with residential income and retail potential in Williamsburg.
      739 Grand Street Ext, Brooklyn, NY 11211
      View Details
    • $3,499,000

      Williamsburg Mixed-Use Investment Opportunity

      Prime Williamsburg mixed-use property with retail and residential units.
      513 Grand St, Brooklyn, NY 11211
      View Details
    • $3,499,000
      0.05 Acres

      Williamsburg Mixed-Use Property For Sale

      Two-family with store in prime Williamsburg location.
      513 Grand Street Ext, Brooklyn, NY 11211
      View Details

    Similar Nearby for Lease

    • $96 SF/Yr
      1,000 SF

      Williamsburg Retail Space

      1000 sq ft, prime Williamsburg location
      232 Metropolitan Ave Brooklyn, NY 11211, Brooklyn, NY 11211
      View Details
    • $8,000 /Mo
      4,153 SF

      Williamsburg Mixed-Use Commercial Space

      4,153 SF space ideal for fitness, wellness, or medical.
      467 Keap St, Brooklyn, NY 11211
      View Details
    • Contact for pricing

      Brooklyn Commercial Property for Lease

      Prime Brooklyn property with modern amenities and versatile floor plans.
      315 Rutledge St, Brooklyn, NY 11211
      View Details
    • Contact for pricing

      Williamsburg Retail Space For Rent

      New retail space in prime Williamsburg location.
      444 Graham Ave, Brooklyn, NY 11211
      View Details
    • Contact for pricing

      Retail Spaces Available For Rent

      Retail spaces available, ranging from 400 to 2,475 SqFt.
      326-328 Graham Ave, Brooklyn, NY 11211
      View Details
    • Contact for pricing
      3,900 SF

      Brooklyn Warehouse Space Available

      3900 SF warehouse space for rent in Brooklyn.
      441 Keap St, Brooklyn, NY 11211
      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.
    658 Driggs Ave
    Brooklyn, NY 11211-6059
    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
    658 Driggs Ave, Brooklyn, NY, 11211
    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!