Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    83 38th St Brooklyn, NY 11203-2006

    • Office buildings
    • 2,100 SF
    • 0.05 lot acres
    OFF-MARKET
    Value Estimations
    $670,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-5909155
    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.

    Current Use by Public Records

    • Dentistry for Adults and Children: Michael Regis, DDS / Dental Office
    • Sherill Purcell M.D., P.C. / Pediatrician / Medical Clinic
    • Purcell Roland R MD / Physician / Hospital

    Property Details for 83 38th St

    Year built
    1945
    Lot size
    0.05 lot acres
    Property size
    2,100 SF
    Zone code
    R5
    Property type
    Office buildings
    APN
    04843-0043
    APU
    48430043

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $930,000
      6.5%
      $860,000
      7%
      $800,000

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $1,050,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9421
    Latitude
    40.6555
    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
    $15,033
    $76,950
    $75,150
    $152,100
    -
    $171,000
    $167,000
    $338,000

    Comparable in this City

    • Value Estimation
      $3,985,000
      10,000 SF

      1014 Brooklyn Ave, Unit 1024

      PROFESSIONAL BUILDING • 10,000 SF
      1014 Brooklyn Ave, Brooklyn, NY 11203-4003
      View Details
    • Value Estimation by Request
      1,520 SF

      612 Schenectady Ave

      PROFESSIONAL BUILDING • 1,520 SF
      612 Schenectady Ave, Brooklyn, NY 11203-1821
      View Details
    • Value Estimation
      $7,605,000
      30,690 SF

      779 New York Ave, Unit 795

      OFFICE BUILDING (MULTI-STORY) • 30,690 SF
      779 New York Ave, Brooklyn, NY 11203-1390
      View Details
    • Value Estimation by Request
      500 SF

      5014 Beverley Rd

      PROFESSIONAL BUILDING • 500 SF
      5014 Beverley Rd, Brooklyn, NY 11203-5302
      View Details
    • Value Estimation
      $860,000
      3,226 SF

      566 Schenectady Ave

      PROFESSIONAL BUILDING • 3,226 SF
      566 Schenectady Ave, Brooklyn, NY 11203-1821
      View Details
    • Value Estimation
      $3,785,000
      11,600 SF

      1336 Utica Ave

      OFFICE BUILDING (MULTI-STORY) • 11,600 SF
      1336 Utica Ave, Brooklyn, NY 11203-5912
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,500 SF

      Brooklyn Office Building For Sale

      3,500 SF office building available in Brooklyn, New York.
      455 Utica Ave, Brooklyn, NY 11203
      View Details
    • New
      $4,500,000
      14,700 SF

      Brooklyn Commercial Building on Retail Corridor

      14,700 SF commercial property in Flatbush retail corridor.
      5203-5207 Church Ave, Brooklyn, NY 11203
      View Details
    • $1,999,999
      2,500 SF

      Prime East Flatbush Industrial

      7,500 SF, 3-unit industrial building
      1005 46Th St, Brooklyn, NY 11203
      View Details
    • $1,999,000

      Prime Brooklyn Mixed-Use Building

      Utica Ave Investment: Retail, Residential, Office
      820 Utica Ave, Brooklyn, NY 11203
      View Details
    • $1,469,000
      2,453 SF

      Prime Commercial Condo in Brooklyn

      Commercial condo with open space in Prospect Lefferts Gardens.
      664 New York Ave, Brooklyn, NY 11203
      View Details
    • $1,149,900
      2,698 SF

      Brooklyn Commercial Building on Church Avenue

      Two-story commercial building with high-traffic frontage in East Flatbush.
      5215 Church Ave, Brooklyn, NY 11203
      View Details

    Similar Nearby for Lease

    • $10,000 /Mo
      3,400 SF

      Brooklyn Office Space For Lease

      Move-in ready office space in prime East Flatbush location.
      632 Utica Ave, Brooklyn, NY 11203
      View Details
    • $2,200 /Mo
      800 SF

      Versatile Commercial Unit in Brooklyn

      Adaptable 800 sq ft space suitable for various business types.
      561 east 43Rd St, Brooklyn, NY 11203
      View Details
    • Contact for pricing
      1,364 SF

      Brooklyn Office Space For Rent

      Office space available for rent in Brooklyn, New York.
      469 Troy Ave, Brooklyn, NY 11203
      View Details
    • Contact for pricing
      9,000 SF

      Industrial Space with Class A Office

      9,000 SF Brooklyn property featuring warehouse and office space.
      228 51St St, Brooklyn, NY 11203
      View Details
    • Contact for pricing
      21,227 SF

      Brand New Medical Office Building in Brooklyn

      Modern Medical Office Space, Brooklyn, NY
      703 Midwood St, Brooklyn, NY 11203
      View Details
    • $15,600 /Mo
      5,600 SF

      Sunset Park Office/Retail Space

      5600 sq ft office and commercial space for lease.
      423 39Th St, Brooklyn, NY 11203
      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.
    83 38th St
    Brooklyn, NY 11203-2006
    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!