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    704 Dekalb Ave Brooklyn, NY 11216-1004
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    Property profile & analytics

    704 Dekalb Ave, Brooklyn, NY 11216-1004

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    • Investment properties
    • 2,280 SF
    • 0.03 lot acres
    Off-Market
    Property ID
    US63-4008143
    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
    $650,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Labyrinth Lab Grown Diamonds New York / (Bike/Boat/Book/etc) Store
    • Toc Toc Spanish for Kids / Language School / Training Center
    • Tam Tam -- Offering Music Together Classes / Vocational School / Training Center
    • Real True Group / Real Estate Agency
    • The Brooklyn Wellness Club / Gym & Fitness Center

    Property Details for 704 Dekalb Ave

    Year built
    1899
    Lot size
    0.03 lot acres
    Zone code
    R7A
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    01780-0011
    APU
    17800011

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 20, 2022 — Ral Tb F704 Dekalb LLC — Deed · related $233k · Ridgewood Savings Bank
    Oct 12, 2017 — Ral Tb F704 Dekalb LLC — Loan Modification, Consolidation And Extension · related $865k · Empire Nat'l Bk
    Oct 18, 2013 $315,000 Ral Tb F704 Dekalb LLC Karen Stewart Deed —
    Jan 12, 2006 $600,000 Karen Stewart Lesley R Richardson Deed $130k · Anayah Trust
    Oct 21, 2004 — Lesley R Richadson Thomas,rodriguez Grant Deed $393k · Argent Mortgage Co LLC
    — — Thomas Rodriguez — Deed Of Trust · related $200k · Nyc Commissioner Of Social Svc
    — — Ral Tb F704 Dekalb LLC — Loan Modification, Consolidation And Extension · related $700k · Empire Nat'l Bk
    — — Thomas Rodriguez — Deed Of Trust · related $17k · Beneficial Homeowner Svc
    — — Ral Tb F704 Dekalb LLC — Deed Of Trust · related $150k · Marwol Realty LLC
    — — Ral Tb F704 Dekalb LLC — Loan Modification, Consolidation And Extension · related $550k · Marwol Realty LLC

    Description

    This exceptional Class A office space, located at 704 Dekalb Ave, Brooklyn, NY 11216, offers two available suites within the Brooklyn Wellness Club. Ideal for wellness professionals such as massage therapists, physical therapists, or estheticians, these suites range from 90 to 145 square feet. Each private office includes individual heating and cooling systems, ensuring a comfortable environment for clients. Shared amenities provide convenience and foster a collaborative atmosphere. These include a dedicated waiting area, a bathroom and hallway sink on the same floor, a large refrigerator, and high-speed Wi-Fi access. The property is situated in the Tompkins Avenue and Nostrand Avenue submarket cluster, offering excellent accessibility. Flexible rental options are available, catering to both full-time and part-time needs. This is a unique opportunity to establish a practice within a supportive and thriving community of like-minded professionals. The property features a total lot size of 145 square feet and is designated as a special purpose office with multiple tenancies. The APN is 1780-11.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $808,000
      Market price range: $809k - $1.38M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,010,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.948
    Latitude
    40.6916
    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
    $1,820
    $7,560
    $72,000
    $79,560
    -
    $126,000
    $1,200,000
    $1,326,000

    Comparable in this City

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    • Value Estimation
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      1345 Bedford Ave

      OFFICE/RESIDENTIAL (MIXED USE)
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    Brooklyn, NY 11216-1004
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    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
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