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    766 Lafayette Ave Brooklyn, NY 11221-6255
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    Property profile & analytics

    766 Lafayette Ave Brooklyn, NY 11221-6255

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    • Retail residential properties
    • 12,971 SF
    • 0.11 lot acres
    Off-Market
    Last Sale May 9, 2022
    $7,275,000
    Property ID
    US63-3824349
    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
    $6,360,000
    Show details
    Cap Rate Potential
    9.4%
    Retail residential properties
    Location Intelligence

    Current Use by Public Records

    • Hernan Picalomino - GEICO Insurance Agent / Insurance Agency
    • East Coast Management Solutions / Property Management Company
    • AAA Home Improvement / General Contractor

    Property Details for 766 Lafayette Ave

    Year built
    2015
    Lot size
    0.11 lot acres
    Property size
    12,971 SF
    Zone code
    R6B
    Property type
    Retail residential properties
    APN
    01792-0006
    APU
    17920006

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,010,000
      ML approach
      $5,305,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $7,845,000
      6.5%
      $7,245,000
      7%
      $6,725,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,062,000
      Market price range: $3.18M - $6.06M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $4,665,000
      Current use
      AUTO REPAIR, GARAGE
      $10,305,000
      Change: +121% Conversion: Difficult
      RETAIL STORES
      $9,990,000
      Change: +114% Conversion: Easy
      INDUSTRIAL (GENERAL)
      $7,360,000
      Change: +58% Conversion: Moderate
      OFFICE BUILDING
      $7,140,000
      Change: +53% Conversion: Easy
      WAREHOUSE, STORAGE
      $6,500,000
      Change: +39% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9423
    Latitude
    40.6907
    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
    $18,733
    $270,000
    $790,200
    $1,060,200
    -
    $600,000
    $1,756,000
    $2,356,000

    Comparable in this City

    • Value Estimation
      $10,040,000
      33,934 SF

      836 Dekalb Ave

      STORES & APARTMENTS • 33,934 SF
      836 Dekalb Ave, Brooklyn, NY 11221-5812
      View Details
    • Value Estimation
      $4,780,000
      15,989 SF

      1467 Broadway

      STORE/OFFICE (MIXED USE) • 15,989 SF
      1467 Broadway, Brooklyn, NY 11221
      View Details
    • Value Estimation
      $21,615,000
      73,717 SF

      874 Willoughby Ave

      STORES & APARTMENTS • 73,717 SF
      874 Willoughby Ave, Brooklyn, NY 11221-8864
      View Details
    • Value Estimation
      $11,995,000
      52,707 SF

      605 Hart St

      STORES & APARTMENTS • 52,707 SF
      605 Hart St, Brooklyn, NY 11221-8074
      View Details
    • Value Estimation by Request
      2,009 SF

      1140 Broadway

      STORES & APARTMENTS • 2,009 SF
      1140 Broadway, Brooklyn, NY 11221-3002
      View Details
    • Value Estimation
      $820,000
      7,016 SF

      1132 Broadway

      STORES & APARTMENTS • 7,016 SF
      1132 Broadway, Brooklyn, NY 11221-3002
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Stuyvesant Heights Mixed-Use Building

      Four-unit mixed-use building in Stuyvesant Heights Historic District.
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      View Details
    • Contact for pricing
      3,500 SF

      Mixed-Use Property | 3,500 SqFt

      Mixed-use property available for sale, totaling 3,500 square feet.
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      11,655 SF

      Brooklyn Mixed-Use Investment Opportunity

      14-unit mixed-use assembly with $409,846 NOI in Brooklyn.
      1119 Broadway, Brooklyn, NY 11221
      View Details
    • $2,850,000
      5,500 SF

      Brooklyn Mixed-Use Property For Sale

      Mixed-use property in Brooklyn, approximately 5,500 square feet.
      2 Malcolm X Blvd, Brooklyn, NY 11221
      View Details
    • Contact for pricing
      15,517 SF

      Newly Constructed Mixed-Use Property

      Four-story mixed-use property with residential, retail, and community facility units.
      1153 Broadway, Brooklyn, NY 11221
      View Details

    Similar Nearby for Lease

    • $6,250 /Mo

      Brooklyn Commercial Ground Lease Opportunity

      7,500 sq ft ground lease in Brooklyn, R6B Zone.
      606-610 33Rd St, Brooklyn, NY 11221
      View Details
    • Contact for pricing
      3,500 SF

      Brooklyn Retail Space Available

      Second generation grocer and restaurant space near Myrtle Avenue.
      984 Broadway, Brooklyn, NY 11221
      View Details
    • $4,000 /Mo

      Spacious Storefront with Basement, Backyard

      1,100 SF storefront with basement and backyard in Brooklyn.
      551 Knickerbocker Ave, Brooklyn, NY 11221
      View Details
    • Contact for pricing

      Retail Space with Ventilation

      End-cap retail space available for rent in Brooklyn.
      666 Bushwick Ave, Brooklyn, NY 11221
      View Details
    • Contact for pricing
      6,560 SF

      Brooklyn Retail Space For Rent

      Retail space for rent near Saratoga Park and Halsey Street.
      1510 Broadway, Brooklyn, NY 11221
      View Details
    • Contact for pricing
      1,024 SF

      Iconic Retail Space Near Myrtle

      Retail space in exclusive single-user building near Myrtle Avenue.
      5 Stuyvesant Ave, Brooklyn, NY 11221
      View Details
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    Brooklyn, NY 11221-6255
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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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