Sign Up Successful!
You now have access to more from Realmo!
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

    975 Manhattan Ave, Unit C1 Brooklyn, NY 11222-7573

    • Retail space
    • 3,703 SF
    OFF-MARKET
    Last Sale
    Nov 10, 2022
    $2,065,500
    Value Estimations
    $2,105,000
    Show details
    Cap Rate Potential
    8.3%
    Retail space
    Location Intelligence
    Property ID
    US63-0978500
    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

    • Local Locker Storage / Storage Facility
    • 975 Manhattan Avenue Condominium / Condominium Complex

    Property Details for 975 Manhattan Ave

    Year built
    2021
    Property size
    3,703 SF
    Zone code
    R7A
    Property type
    Retail space
    APN
    02532-1201
    APU
    25321201

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,130,000
      ML approach
      $2,155,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,960,000
      6.5%
      $2,730,000
      7%
      $2,535,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,856,000
      Market price range: $1.69M - $4.53M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $2,850,000
      Current use
      AUTO REPAIR, GARAGE
      $2,940,000
      Change: +3% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $2,480,000
      Change: -13% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.955
    Latitude
    40.7325
    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
    $29,802
    $25,774
    $390,150
    $415,924
    -
    $57,275
    $867,000
    $924,275

    Comparable in this City

    • Value Estimation
      $10,380,000
      26,389 SF

      214 Franklin St, Unit 218

      RETAIL STORES (PERSONAL SERVICES) • 26,389 SF
      214 Franklin St, Brooklyn, NY 11222-6540
      View Details
    • Value Estimation
      $6,675,000
      15,615 SF

      211 Mcguinness Blvd, Unit CU-2

      RETAIL STORES (PERSONAL SERVICES) • 15,615 SF
      211 Mcguinness Blvd, Brooklyn, NY 11222-6787
      View Details
    • Value Estimation by Request

      113 Franklin St

      Restaurants
      113 Franklin St, Brooklyn, NY 11222
      View Details
    • Value Estimation by Request

      171 Calyer St, Unit RET-2

      RETAIL STORES (PERSONAL SERVICES)
      171 Calyer St, Brooklyn, NY 11222-7978
      View Details
    • Value Estimation
      $740,000
      1,921 SF

      473 Morgan Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,921 SF
      473 Morgan Ave, Brooklyn, NY 11222-5731
      View Details
    • Value Estimation
      $1,010,000
      1,694 SF

      585 Manhattan Ave, Unit CU

      RETAIL STORES (PERSONAL SERVICES) • 1,694 SF
      585 Manhattan Ave, Brooklyn, NY 11222-3919
      View Details

    Similar Nearby for Sale

    • $3,400,000

      Mixed-Use Building Across McGolrick Park

      Mixed-use building in Greenpoint, Brooklyn, with repositioning opportunity.
      221 Nassau Ave, Brooklyn, NY 11222
      View Details
    • $200,000
      1,200 SF

      Turnkey Liquor Store in Greenpoint

      Profitable liquor store for sale in prime Greenpoint, Brooklyn.
      547 Morgan Ave, Brooklyn, NY 11222
      View Details
    • $4,500,000
      Pending

      Greenpoint Mixed-Use Investment Opportunity

      Income-producing mixed-use property in prime Greenpoint location.
      688 Manhattan Ave, Brooklyn, NY 11222
      View Details
    • $250,000
      950 SF

      Greenpoint Retail Space - $250K

      Turnkey Liquor Store, High-Traffic Location
      547 Morgan Ave, Brooklyn, NY 11222
      View Details
    • $138,000
      500 SF

      Greenpoint Franchise Milk Tea Shop

      Franchise milk tea shop for sale in Brooklyn, NY.
      108 Meserole Ave, Brooklyn, NY 11222
      View Details
    • $3,000,000
      7,500 SF

      East Williamsburg Industrial Gem

      7,500 SF Flex Space, Value-Add Opportunity
      15 Division Pl, Brooklyn, NY 11222
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,000 SF

      Manhattan Ave Retail Space

      Prime Brooklyn Retail Opportunity: 4,000 SF
      717 Manhattan Ave, Brooklyn, NY 11222
      View Details
    • Contact for pricing
      750 SF

      Prime Brooklyn Retail Space

      750 SF Street Retail, Kings County
      200 Franklin St, Brooklyn, NY 11222
      View Details
    • $16,000 /Mo
      2,000 SF

      Brooklyn Retail Space For Rent

      2,000 SF retail space available in Brooklyn, NY.
      39 Norman Ave, Brooklyn, NY 11222
      View Details
    • Contact for pricing
      6,202 SF

      Waterfront Retail Space in Greenpoint

      Retail space with unobstructed Manhattan views and roof deck.
      12 Franklin St, Brooklyn, NY 11222
      View Details
    • $9,000 /Mo

      Spacious Retail Store with Basement

      1000 SF retail space with finished basement storage.
      754 Manhattan Ave, Brooklyn, NY 11222
      View Details
    • Contact for pricing
      2,500 SF

      Brooklyn Retail Space For Rent

      Retail space available in Brooklyn with high ceilings.
      63 Guernsey St, Brooklyn, NY 11222
      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.
    975 Manhattan Ave, Unit C1
    Brooklyn, NY 11222-7573
    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.