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

    673 Livonia Ave, Unit 683 Brooklyn, NY 11207-5407

    • Manufacturing properties
    • 8,300 SF
    • 0.23 lot acres
    OFF-MARKET
    Last Sale
    Oct 26, 2021
    $2,415,000
    Value Estimations
    $2,445,000
    Show details
    Cap Rate Potential
    5.5%
    Manufacturing properties
    Location Intelligence
    Property ID
    US63-1406048
    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

    • Fleetwood Cabinet Co Inc / Cabinet Maker

    Property Details for 673 Livonia Ave

    Year built
    1930
    Lot size
    0.23 lot acres
    Property size
    8,300 SF
    Zone code
    R6
    Property type
    Manufacturing properties
    APN
    03808-0001
    APU
    38080001

    Description

    This exceptional 10,000 square foot commercial land parcel presents a remarkable development opportunity in Brooklyn, New York. Located at 673 Livonia Avenue, this corner lot boasts a substantial 200-foot wraparound frontage, maximizing visibility and accessibility. Currently improved with a 1-story warehouse, the property offers significant as-of-right buildable square footage. With R6/C2-3 zoning, the site allows for a large-scale mixed-use development plan, potentially reaching 30,000 buildable square feet as-of-right, and up to 48,000 square feet with the utilization of community facility allowances. The property's strategic location in East New York provides unparalleled convenience, situated just two blocks from the Pennsylvania Avenue subway station, offering easy access to the 2, 3, 4, and 5 subway lines. Nearby amenities include the Brooklyn Public Library, Hyde Leadership Charter Middle School, and the Martin Luther King Jr. Playground. This vibrant neighborhood is experiencing significant growth, with over a dozen new buildings developed within a half-mile radius, indicating a strong and promising market. The asking price for this exceptional development opportunity is $2,900,000. This is a rare chance to acquire a substantial property in a rapidly developing area with excellent transit access and strong community infrastructure. Don't miss this chance to capitalize on the potential of this prime Brooklyn location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,675,000
      ML approach
      $3,060,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,460,000
      6.5%
      $2,270,000
      7%
      $2,110,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.8919
    Latitude
    40.6653
    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
    $81,000
    $322,200
    $403,200
    -
    $180,000
    $716,000
    $896,000

    Comparable in this City

    • Value Estimation
      $5,890,000
      15,000 SF

      769 Chauncey St, Unit 781

      MANUFACTURING (LIGHT) • 15,000 SF
      769 Chauncey St, Brooklyn, NY 11207-1121
      View Details
    • Value Estimation
      $575,000
      3,100 SF

      597 Liberty Ave

      MANUFACTURING (LIGHT) • 3,100 SF
      597 Liberty Ave, Brooklyn, NY 11207-3217
      View Details
    • Value Estimation
      $1,740,000
      8,000 SF

      282 Liberty Ave

      MANUFACTURING (LIGHT) • 8,000 SF
      282 Liberty Ave, Brooklyn, NY 11207-2918
      View Details
    • Value Estimation
      $2,810,000
      16,206 SF

      156 Hinsdale St

      MANUFACTURING (LIGHT) • 16,206 SF
      156 Hinsdale St, Brooklyn, NY 11207-3302
      View Details
    • Value Estimation
      $1,480,000
      6,000 SF

      662 Livonia Ave

      MANUFACTURING (LIGHT) • 6,000 SF
      662 Livonia Ave, Brooklyn, NY 11207-5406
      View Details
    • Value Estimation
      $4,380,000
      20,000 SF

      205 Sheffield Ave

      MANUFACTURING (LIGHT) • 20,000 SF
      205 Sheffield Ave, Brooklyn, NY 11207-3413
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      20,000 SF

      Brooklyn Warehouse with Manufacturing Potential

      20,000 SF Brooklyn warehouse suitable for storage and manufacturing.
      1000 Alabama Ave, Brooklyn, NY 11207
      View Details
    • Contact for pricing
      20,000 SF

      Flatlands Ave Industrial Property

      20,000 SF Vacant Industrial Building
      12041 Flatlands Ave, Brooklyn, NY 11207
      View Details
    • Contact for pricing
      7,500 SF

      Brooklyn Industrial Flex Space

      7,500 SF Vacant Warehouse in NY
      90 Alabama Ave, Brooklyn, NY 11207
      View Details
    • $2,300,000

      Brooklyn Warehouse with Loading Dock

      Two-story warehouse with loading dock near transportation.
      161 Jamaica Ave, Brooklyn, NY 11207
      View Details
    • $525,000

      Brooklyn Development Land

      Prime Brooklyn location, dual parcels.
      441 Liberty Ave, Brooklyn, NY 11207
      View Details
    • $525,000

      Brooklyn Development Land

      Prime location, flexible zoning, great potential.
      439 Liberty Ave, Brooklyn, NY 11207
      View Details

    Similar Nearby for Lease

    • $5,500 /Mo
      2,500 SF

      Brooklyn Warehouse with Office Space

      2,500 SF warehouse with office and drive-in gate.
      733 Livonia Ave, Brooklyn, NY 11207
      View Details
    • Contact for pricing
      39,300 SF

      Brooklyn Warehouse: 39,300 SF Available

      Huge warehouse, multiple spaces, ideal for distribution.
      300 Liberty Ave, Brooklyn, NY 11207
      View Details
    • Contact for pricing
      44,000 SF

      Brooklyn Warehouse with Parking

      Spacious warehouse in Brooklyn with office space and parking.
      318 Dewitt Ave, Brooklyn, NY 11207
      View Details
    • $15,000 /Mo
      6,750 SF

      Brooklyn Warehouse with Yard Space

      6,750 SF warehouse with 7,500 SF of land.
      78 Georgia Ave, Brooklyn, NY 11207
      View Details
    • Contact for pricing
      88,500 SF

      Brooklyn Warehouse Near JFK Airport

      88,500 SF warehouse with loading docks and heavy power.
      303 Louisiana Ave, Brooklyn, NY 11207
      View Details
    • Contact for pricing
      1,500 SF

      Brooklyn Warehouse Space Available

      1500 SF warehouse space for rent in Brooklyn.
      1900 Linden Blvd, Brooklyn, NY 11207
      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.
    673 Livonia Ave, Unit 683
    Brooklyn, NY 11207-5407
    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.