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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    970 41St St Brooklyn, NY 11219

    • Office Properties & Spaces
    • 1,085 SF
    For Sale
    View listing
    $475,000
    Value Estimations
    Cap Rate Potential
    7.5%
    Office Properties & Spaces
    Location Intelligence
    Property ID
    US63-1201836
    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

    • Joanna Lis Pediatrics PC: Lis Joanna MD / Pediatrician
    • Joanna Barbara Lis Pediatrics PC / Pediatrician
    • Joana Lis Pediatrics / Pediatrician
    • UPS Access Point location / Shipping And Mailing Service / Mailing Service
    • Manila Management Inc. / Business Management Consultant

    Property Details for 970 41St St

    Property size
    1,085 SF
    Zone code
    R6
    Property type
    Office Properties & Spaces
    APN
    05590-1104
    APU
    55901104

    Description

    This exceptional 750-square-foot commercial condo, located at 970 41st Street S2 in Brooklyn, NY 11219, presents a lucrative investment opportunity. Situated in the vibrant Boro Park/Sunset Park neighborhood, this property boasts a prime location with high foot traffic, making it ideal for a variety of retail or restaurant uses. The condo is part of a six-story building and sits on a sizable 9,450-square-foot lot. The interior features ceiling heights ranging from 8-10 feet and 11-15 feet, offering versatile space planning options. The asking price is $475,000. Its convenient location offers easy access to public transportation, with proximity to the D train, and is also close to Maimonides Hospital, ensuring high visibility and potential customer base. The property is a single unit, offering a streamlined ownership experience. While the marketing materials mention the possibility of larger spaces (1000-3000 sq ft), this listing specifically refers to the 750 sq ft condo unit for sale. This presents a unique opportunity to acquire a well-situated commercial space in a thriving Brooklyn neighborhood. The Kings County location provides access to a diverse and densely populated area. This is a turnkey opportunity for a savvy investor seeking a strong return on investment in a high-demand area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $340,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $420,000
      6.5%
      $390,000
      7%
      $360,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $530,000
      Current use
      WAREHOUSE, STORAGE
      $545,000
      Change: +3% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9946
    Latitude
    40.6435
    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
    $4,447
    $3,101
    $217,350
    $220,451
    -
    $6,891
    $483,000
    $489,891

    Comparable in this City

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      CONDOMINIUM OFFICES • 2,171 SF
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    • Value Estimation by Request
      78,455 SF

      1063 63Rd St

      Medical offices • 78,455 SF
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    • Value Estimation
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      4,808 SF

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      CONDOMINIUM OFFICES • 4,808 SF
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    • Value Estimation
      $235,000
      1,322 SF

      5816 Ft Hamilton Pkwymz2

      OFFICE (GENERAL) • 1,322 SF
      5816 Ft Hamilton Pkwymz2, Brooklyn, NY 11219-5884
      View Details
    • Value Estimation
      $785,000
      19,016 SF

      5220 13th Ave, Unit 2

      OFFICE (GENERAL) • 19,016 SF
      5220 13th Ave, Brooklyn, NY 11219-3810
      View Details

    Similar Nearby for Sale

    • $4,495,000
      5,400 SF

      Prime Boro Park Commercial Building

      8 Units, 5,400 SF, High-Traffic Location
      4924 13Th Ave, Brooklyn, NY 11219
      View Details
    • $810,000
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      Prime Brooklyn Office Space

      7,473 SF Office, Newly Constructed
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    • $859,000
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      Sunset Park Commercial Condo

      1,230 SF Office, Prime Location
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    • $475,000
      750 SF

      Brooklyn Commercial Condo Opportunity

      750 SF Retail/Warehouse Space, $475K
      970 41St St, Brooklyn, NY 11219
      View Details
    • $3,499,000
      5,250 SF

      Brooklyn Office Building Investment Opportunity

      Six-unit office building, $3.499M
      6326 New Utrecht Ave, Brooklyn, NY 11219
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    • $475,000
      750 SF

      Brooklyn Commercial Condo Opportunity

      750 SF Retail/Office Space, High Traffic Area
      970 41St St, Brooklyn, NY 11219
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      10,000 SF

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      Prime Brooklyn Office Space Available
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      1,500 SF

      Brooklyn Office Space For Rent

      1500 sqft office space available in Brooklyn, NY.
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      1,194 SF

      Boro Park Ground Floor Office

      Spacious, renovated office in excellent location, ready for occupancy.
      1267 57Th St, Brooklyn, NY 11219
      View Details
    • Contact for pricing
      1,450 SF

      Spacious Office with Multiple Rooms

      Office space featuring multiple rooms, furniture, and parking available.
      1510 56Th St, Brooklyn, NY 11219
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    • Contact for pricing
      800 SF

      Borough Park Retail/Office Space

      Retail/office space in prime Borough Park location, ready to move.
      4318 13Th Ave, Brooklyn, NY 11219
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    • Contact for pricing
      570 SF

      Reconstructed Building with Outdoor Terraces

      Reconstructed building featuring high ceilings and multiple outdoor terraces.
      1055 63Rd St, Brooklyn, NY 11219
      View Details
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    970 41St St
    Brooklyn, NY 11219
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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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