Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    718 3rd Ave Brooklyn, NY 11232-1113
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    718 3rd Ave Brooklyn, NY 11232-1113

    View on Map
    • Auto shops
    • 14,900 SF
    • 0.17 lot acres
    Off-Market
    Property ID
    US63-2222241
    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
    $955,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • InZone Logistics / Freight Service / Logistics Company
    • Ultimate Car Wash / Car Wash
    • Exceptional Furniture Store / Furniture & Home Goods / Home Decor Store
    • Friendly TLC Rentals & Leasing / Loan Service / Car Dealership
    • Next Century Insurance Company / Insurance Agency

    Property Details for 718 3rd Ave

    Year built
    2000
    Lot size
    0.17 lot acres
    Property size
    14,900 SF
    Zone code
    M3-1
    Property type
    Auto shops
    APN
    00644-0087
    APU
    6440087

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $630,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,280,000
      Market price range: $1.28M - $3.27M

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9991
    Latitude
    40.6632
    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
    $37,750
    $76,050
    $374,850
    $450,900
    -
    $169,000
    $833,000
    $1,002,000

    Comparable in this City

    • Value Estimation by Request
      2,500 SF

      817 39th St

      AUTO REPAIR, GARAGE • 2,500 SF
      817 39th St, Brooklyn, NY 11232
      View Details
    • Value Estimation by Request
      3,388 SF

      254 43rd St

      AUTO REPAIR, GARAGE • 3,388 SF
      254 43rd St, Brooklyn, NY 11232-2818
      View Details
    • Value Estimation by Request
      0.06 Acres

      137 20th St

      AUTO REPAIR, GARAGE • 0.06 Acres
      137 20th St, Brooklyn, NY 11232-1110
      View Details
    • Value Estimation by Request
      2,500 SF

      268 40th St

      AUTO REPAIR, GARAGE • 2,500 SF
      268 40th St, Brooklyn, NY 11232-2810
      View Details
    • Value Estimation
      $2,820,000
      7,000 SF

      260 42nd St

      AUTO REPAIR, GARAGE • 7,000 SF
      260 42nd St, Brooklyn, NY 11232-2814
      View Details
    • Value Estimation
      $850,000
      2,500 SF

      266 42nd St

      AUTO REPAIR, GARAGE • 2,500 SF
      266 42nd St, Brooklyn, NY 11232-2814
      View Details

    Similar Nearby for Sale

    • $2,999,000
      2,400 SF

      Sunset Park Mixed-Use Building

      Corner building with retail and residential units in Brooklyn.
      3924 9Th Ave, Brooklyn, NY 11232
      View Details
    • $2,600,000
      4,125 SF

      Brooklyn Mixed-Use Investment Opportunity

      Mixed-use building in Sunset Park with commercial and residential units.
      3919 4Th Ave, Brooklyn, NY 11232
      View Details
    • $7,990,000
      19,104 SF

      Brooklyn Mixed-Use Commercial Building

      Four-story mixed-use building in Sunset Park with commercial and residential units.
      4317 8Th Ave, Brooklyn, NY 11232
      View Details
    • $1,999,000

      Mixed-Use Building on 4th Avenue

      Mixed-use building with five apartments and two commercial units.
      924 4Th Ave, Brooklyn, NY 11232
      View Details
    • $1,500,000
      3,726 SF

      Brooklyn Commercial Condo on 8th

      3,726 SF duplex commercial condo on busy 8th Avenue.
      4018 8Th Ave, Brooklyn, NY 11232
      View Details
    • $1,800,000
      4,000 SF

      Brooklyn Mixed-Use Investment Opportunity

      Mixed-use building with seven apartments and one storefront.
      922 4Th Ave, Brooklyn, NY 11232
      View Details

    Similar Nearby for Lease

    • $32 SF/Yr
      2,200 SF

      Prime Greenwood Heights Commercial Space

      2200 SF Office/Retail - Immediate Occupancy
      225 34Th St 1, Brooklyn, NY 11232
      View Details
    • Contact for pricing
      1,400 SF

      Prime Brooklyn Retail Space

      1400 sq ft storefront for lease
      635 4Th Ave, Brooklyn, NY 11232
      View Details
    • Contact for pricing

      Brooklyn Retail/Office Space Available

      2,200 SF ground floor space with 700 SF basement.
      225 34Th St, Brooklyn, NY 11232
      View Details
    • Contact for pricing
      439 SF

      Brooklyn Mixed-Use Development Retail Space

      Retail space available in a 6,000,000 SF mixed-use development.
      220-254 36Th St, Brooklyn, NY 11232
      View Details
    • Contact for pricing
      1,749 SF

      Brooklyn Mixed-Use Development Retail Space

      Retail space available in a large mixed-use Brooklyn development.
      581 2Nd Ave, Brooklyn, NY 11232
      View Details
    • Contact for pricing
      1,261 SF

      Retail Space Available For Rent

      Commercial retail space available for rent in Brooklyn, New York.
      132-162 32Nd St, Brooklyn, NY 11232
      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.
    718 3rd Ave
    Brooklyn, NY 11232-1113
    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.
    Sign Up Successful!
    You now have access to more from Realmo!