Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    8316 3rd Ave Brooklyn, NY 11209-4403
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    8316 3rd Ave Brooklyn, NY 11209-4403

    View on Map
    • Investment properties
    • 4,176 SF
    • 0.04 lot acres
    Off-Market
    Property ID
    US63-1094407
    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
    $1,455,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • New Athens Market - Greek Market -- Possibilities are unlimited!! / Specialty Food Shop

    Property Details for 8316 3rd Ave

    Year built
    1905
    Lot size
    0.04 lot acres
    Property size
    4,176 SF
    Zone code
    R6B
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    06016-0044
    APU
    60160044

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $2,005,000
      Current use
      OFFICE BUILDING
      $2,300,000
      Change: +15% Conversion: Easy
      WAREHOUSE, STORAGE
      $2,095,000
      Change: +4% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -74.0306
    Latitude
    40.6253
    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
    $8,894
    $198,900
    $113,940
    $312,840
    -
    $442,000
    $253,200
    $695,200

    Comparable in this City

    • Value Estimation
      $860,000
      2,888 SF

      7515 3rd Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 2,888 SF
      7515 3rd Ave, Brooklyn, NY 11209-3103
      View Details
    • Value Estimation
      $975,000
      3,360 SF

      6916 3rd Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,360 SF
      6916 3rd Ave, Brooklyn, NY 11209-1305
      View Details
    • Value Estimation
      $875,000
      2,970 SF

      7818 3rd Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 2,970 SF
      7818 3rd Ave, Brooklyn, NY 11209-3606
      View Details
    • Value Estimation
      $895,000
      3,036 SF

      7605 3rd Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,036 SF
      7605 3rd Ave, Brooklyn, NY 11209-3101
      View Details
    • Value Estimation
      $1,070,000
      3,700 SF

      8822 3rd Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,700 SF
      8822 3rd Ave, Brooklyn, NY 11209-5608
      View Details
    • Value Estimation
      $1,020,000
      3,547 SF

      7619 5th Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,547 SF
      7619 5th Ave, Brooklyn, NY 11209-3303
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Mixed-Use Building in Bay Ridge

      Mixed-use building with five apartments and one store for sale.
      8707 5Th Ave, Brooklyn, NY 11209
      View Details
    • $3,500,000
      8,502 SF

      Bay Ridge Multi-Unit Investment Opportunity

      Mixed-use property with residential and commercial units in prime location.
      8325 5 Ave Bay, Ridge, NY 11209
      View Details
    • $2,489,000

      Bay Ridge Mixed-Use Investment Property

      Three-story mixed-use building with commercial storefront and residential units.
      9112 3Rd Ave, Brooklyn, NY 11209
      View Details
    • $4,600,000
      10,700 SF

      Bay Ridge Mixed-Use Corner Building

      Mixed-use building with 12 apartments and retail space.
      7823 5Th Ave, Brooklyn, NY 11209
      View Details
    • $2,999,999
      6,600 SF

      Mixed-Use Building in Bay Ridge

      Mixed-use building with retail and apartments in prime location.
      7612 5Th Ave, New York, NY 11209
      View Details
    • $2,000,000
      4,800 SF

      Mixed-Use Building on 5th Avenue

      Mixed-use building with apartments and commercial space in Brooklyn.
      7127-7129 5Th Ave, Brooklyn, NY 11209
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Turn-Key Day Care Facility

      Equipped day care with play area and residential apartment.
      358 Ovington Ave, Brooklyn, NY 11209
      View Details
    • Contact for pricing

      Renovated Office Space Available

      Newly renovated office space for rent in move-in condition.
      7302 6Th Ave, Brooklyn, NY 11209
      View Details
    • Contact for pricing
      1,400 SF

      Professional Office Suite For Rent

      First floor office suite with hardwood floors and exposed brick.
      7103 3Rd Ave, Brooklyn, NY 11209
      View Details
    • $3,200 /Mo

      Renovated 4-Bedroom Apartment For Rent

      Newly renovated 4-bedroom apartment with outdoor space, convenient location.
      643 72Nd St, Brooklyn, NY 11209
      View Details
    • $2,000 /Mo
      627 SF

      Brooklyn Office Space with Parking

      627 SF office space with included indoor parking.
      9920 4Th Ave, Brooklyn, NY 11209
      View Details
    • $6,000 /Mo
      1,100 SF

      Brooklyn Retail Space Available

      Prime retail space in Brooklyn with high foot traffic.
      7624 3Rd Ave, Brooklyn, NY 11209
      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.
    8316 3rd Ave
    Brooklyn, NY 11209-4403
    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!