Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    689 5th Ave Brooklyn, NY 11215-7618
    Back to Search
    Property profile & analytics

    689 5th Ave Brooklyn, NY 11215-7618

    View on Map
    • Retail residential properties
    • 5,520 SF
    • 0.04 lot acres
    Off-Market
    Last Sale Mar 5, 2021
    $2,400,000
    Property ID
    US63-2267343
    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
    $2,625,000
    Show details
    Cap Rate Potential
    7.5%
    Retail residential properties
    Location Intelligence

    Current Use by Public Records

    • PrintWithMe Print Kiosk at Hey Monday Coffee / (Bike/Boat/Book/etc) Store / Printing Service
    • Hey Monday Coffee / Cafe & Coffee Shop

    Property Details for 689 5th Ave

    Year built
    1931
    Lot size
    0.04 lot acres
    Property size
    5,520 SF
    Zone code
    R6A
    Property type
    Retail residential properties
    APN
    00891-0001
    APU
    8910001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,685,000
      ML approach
      $2,615,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,340,000
      6.5%
      $3,085,000
      7%
      $2,865,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,034,000
      Market price range: $3.03M - $5.14M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $3,785,000
      Current use
      RETAIL STORES
      $4,250,000
      Change: +12% Conversion: Easy
      INDUSTRIAL (GENERAL)
      $3,135,000
      Change: -17% Conversion: Moderate
      OFFICE BUILDING
      $3,040,000
      Change: -20% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9931
    Latitude
    40.6613
    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
    $20,253
    $23,850
    $138,150
    $162,000
    -
    $53,000
    $307,000
    $360,000

    Comparable in this City

    • Value Estimation
      $3,840,000
      9,100 SF

      219 5th Ave, Unit 10

      STORES & APARTMENTS • 9,100 SF
      219 5th Ave, Brooklyn, NY 11215-2038
      View Details
    • Value Estimation
      $42,880,000
      142,888 SF

      310 1st St

      STORES & APARTMENTS • 142,888 SF
      310 1st St, Brooklyn, NY 11215
      View Details
    • Value Estimation
      $3,405,000
      9,112 SF

      1201 8th Ave, Unit 7

      STORES & APARTMENTS • 9,112 SF
      1201 8th Ave, Brooklyn, NY 11215-5105
      View Details
    • Value Estimation
      $2,530,000
      5,864 SF

      179 7th Ave, Unit 7

      STORES & APARTMENTS • 5,864 SF
      179 7th Ave, Brooklyn, NY 11215-2681
      View Details
    • Value Estimation
      $2,350,000
      5,460 SF

      371 5th Ave, Unit 7

      STORES & APARTMENTS • 5,460 SF
      371 5th Ave, Brooklyn, NY 11215-3375
      View Details
    • Value Estimation
      $2,310,000
      5,900 SF

      318 11th St, Unit 8

      STORES & APARTMENTS • 5,900 SF
      318 11th St, Brooklyn, NY 11215-3929
      View Details

    Similar Nearby for Sale

    • 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
    • $3,750,000
      5,815 SF

      A mixed-use building comprised of six one-bedroom apartments and one retail unit

      A mixed-use building comprised of six one-bedroom apartments and one retail unit
      289 7th Ave, 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.
    689 5th Ave
    Brooklyn, NY 11215-7618
    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
    689 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!