1115 Broadway Brooklyn, NY 11221-3015
Entity Owned
Absentee Owner
~
Est. High Equity
Estimated value (blended)
$445k
Range $401k – $490k (±10%)
Property ID
US63-6242419
Property summary
AI-generated overview
This exceptional 2,250 square foot retail property at 1115 Broadway in Brooklyn, NY 11221, presents a unique investment and redevelopment opportunity. The vacant, single-story building, constructed in 1931, boasts two storefronts and recently renovated interiors. Its prime corner location offers high visibility and significant foot traffic. The property is zoned R6, C2-3, allowing for diverse development possibilities. With a lot size of 2,250 square feet and substantial air rights (3,128 square feet), this site is ideal for expansion or adaptive reuse. The asking price is $1,900,000, translating to $844.44 per square foot. Conveniently located near the J, M, and Z subway lines, this property offers unparalleled access to public transportation. This is a rare chance to acquire a well-positioned commercial property in a thriving Brooklyn neighborhood. The property's existing infrastructure and zoning flexibility make it an attractive proposition for both seasoned investors and developers seeking a high-return investment. Don't miss this chance to capitalize on this exceptional opportunity.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1931
Total area
2,250 SF
Lot
0.05 ac (2,250 SF)
Zoning code
R6
APN
03230-0040
UPID
US63-6242419
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Pediatrician Physician
-
Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.66M
Comparable Approach
Comparable
$1.17M
Blend (final)
Blend
$445k
Owner & transaction history
since 2025
Last sale
$1.7M
2 recorded transactions
Zoning & alternative use
R6 · Brooklyn, NY
Top alternative use upside
Auto repair, garage
$1.8M
+3.2%
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 13 comparables with addresses
2 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
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from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$445k
Value range
$401k – $490k
±10% around blend
Estimated value / SF
$198 / SF
Confidence
High
13 county-verified comps
Property data
88
Market benchmarks
67
Comparable evidence
100
$401k
blend $445k
$490k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
2,250 SF
Lot area
0.05 ac
Year built
1931
Stories
1
APN
03230-0040
Assessed value
$111,150
Annual tax
$10,620
3
Income approach: direct capitalization
Partial preview
Income approach indication
$1.66M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$1.80M
@ 6.5% CAP return
$1.66M
@ 7% CAP return
$1.54M
4
Sales comparison
Partial preview
Sales approach indication
$1.20M
Weighted, 13 comps · high confidence
Evidence
13 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
4.1 mi away · 2,257 SF
4.1 mi away · 2,176 SF
4.1 mi away · 2,500 SF
4.6 mi away · 2,200 SF
4.7 mi away · 1,607 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$445k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 291 sales
$770
-74%
County 291 sales
$770
-74%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $198/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Auto Repair, Garage
Gross theoretical uplift
+3%
vs current-use indication
Retail Stores · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 13 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$1.70M
Move the market yield to see immediate price impact.
Value / SF
$756
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$107k
$2.14M
$1.53M
$1.19M
$119k
$2.38M
$1.70M
$1.32M
$131k
$2.62M
$1.87M
$1.45M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
13 found
High confidence · county-verified
Closest comparable
$318k
2.1 mi · Feb 2026 · $159/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$10,620
Tax year 2024
Assessed value
$111,150
Assessed 2024
Previous assessed
$106,650
+4.2% YoY
Effective rate
9.55%
On assessed value
Assessed land
$41,400
Assessed improvement
$69,750
Land market value
$92,000
Improvement market value
$155,000
Total market value
$247,000
Applied tax rate
4.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1931
Heating
NONE
Buildings
1
Stories
1
Units
1
Total area
2,250 SF
Lot
0.05 ac (2,250 SF)
Zoning code
R6
APN
03230-0040
UPID
US63-6242419
Jurisdiction
KINGS(BROOKLYN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R6 · Brooklyn, NYZoning R6 · permitted uses
R6 · Brooklyn, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1931
Heating
NONE
Stories
1
Buildings
1
Units
1
Lot
0.05 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
R6
Jurisdiction
Brooklyn, NY
Recorded code
R6
Ownership Intelligence
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Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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