Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    74 Palmetto St Brooklyn, NY 11221-4918
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    74 Palmetto St Brooklyn, NY 11221-4918

    View on Map
    • Apartment buildings
    • 7,838 SF
    • 0.06 lot acres
    Off-Market
    Last Sale Mar 14, 2022
    $1,082,700
    Property ID
    US63-0198513
    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
    $1,055,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 74 Palmetto St

    Year built
    2022
    Lot size
    0.06 lot acres
    Property size
    7,838 SF
    Zone code
    R6
    Property type
    Apartment buildings
    APN
    03349-0119
    APU
    33490119

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $880,000
      ML approach
      $920,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,318,000
      Market price range: $1.09M - $3.24M

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9189
    Latitude
    40.6911
    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
    $45,493
    $96,750
    $356,400
    $453,150
    -
    $215,000
    $792,000
    $1,007,000

    Comparable in this City

    • Value Estimation
      $6,820,000
      119,920 SF

      969 Gates Ave, Unit 995

      APARTMENT HOUSE (5+ UNITS) • 119,920 SF
      969 Gates Ave, Brooklyn, NY 11221-3639
      View Details
    • Value Estimation
      $4,220,000
      20,835 SF

      58 Palmetto St

      APARTMENT HOUSE (5+ UNITS) • 20,835 SF
      58 Palmetto St, Brooklyn, NY 11221-8215
      View Details
    • Value Estimation
      $27,375,000
      133,497 SF

      340 Evergreen Ave

      APARTMENT HOUSE (5+ UNITS) • 133,497 SF
      340 Evergreen Ave, Brooklyn, NY 11221-6627
      View Details
    • Value Estimation
      $1,405,000
      101,440 SF

      429 Lexington Ave

      APARTMENT HOUSE (5+ UNITS) • 101,440 SF
      429 Lexington Ave, Brooklyn, NY 11221
      View Details
    • Value Estimation
      $4,080,000
      66,300 SF

      1255 Gates Ave

      APARTMENT HOUSE (5+ UNITS) • 66,300 SF
      1255 Gates Ave, Brooklyn, NY 11221
      View Details
    • Value Estimation
      $3,960,000
      70,180 SF

      357 Wilson Ave, Unit 367

      APARTMENT HOUSE (5+ UNITS) • 70,180 SF
      357 Wilson Ave, Brooklyn, NY 11221-4733
      View Details

    Similar Nearby for Sale

    • $2,769,000
      3,289 SF

      Two Brownstone Buildings on One Lot

      Two buildings with six bedrooms and four full baths.
      698 Lexington Ave, Brooklyn, NY 11221
      View Details
    • Contact for pricing
      4,000 SF

      Rent Stabilized Multifamily Building

      Fully rent stabilized multifamily building with 100% collections.
      1104 Bushwick Ave, Brooklyn, NY 11221
      View Details
    • Contact for pricing
      3,828 SF

      Brooklyn Multifamily Building for Sale

      Free market building near subway with upside potential.
      1252 Myrtle Ave, Brooklyn, NY 11221
      View Details

    Similar Nearby for Lease

    • $4,000 /Mo
      1,599 SF

      Brooklyn Storefront with Basement, Backyard

      Spacious commercial storefront with basement and backyard in Brooklyn.
      551 Knickerbocker Ave, Brooklyn, NY 11221
      View Details
    • Contact for pricing

      Spacious Retail Space in Bushwick

      4,200 sq ft retail space in high-traffic Bushwick location.
      1065 Broadway, Brooklyn, NY 11221
      View Details
    • New
      $4,500 /Mo
      1,490 SF

      Brooklyn Commercial Space For Rent

      1,800 sq ft commercial space available in Brooklyn.
      103 Stuyvesant Ave, Brooklyn, NY 11221
      View Details
    • $4,500 /Mo

      Prime Retail Storefront in Brooklyn

      High-visibility retail space with flexible lease terms and outdoor space.
      364 Wilson Ave, Brooklyn, NY 11221
      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.
    74 Palmetto St
    Brooklyn, NY 11221-4918
    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!