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Property profile & analytics
OFF-MARKET
Estimated value
$1,960,000
Office buildings
118 3rd Ave Brooklyn, NY 11217-2305
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US63-5686972
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1900
Total area
5,200 SF
Lot
0.06 ac (2,600 SF)
Zoning code
M1-2
APN
00388-0038
UPID
US63-5686972
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Kofinas Fertility Group Medical Clinic
-
Dr. Charalampos (Harry) Chatzicharalampous, MD, PhD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.13M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.96M
Owner & transaction history
Jdk Rsc LLC · 9 yrs held
Jdk Rsc LLC
since 2017
4 recorded transactions
Zoning & alternative use
M1-2 · Brooklyn, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$3.0M
+3.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Brooklyn submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Brooklyn submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,305,000
6.5%
$2,130,000
7%
$1,975,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,860,000
Current use
INDUSTRIAL (GENERAL)
$2,950,000
Change: +3% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,745,000
Change: -4% · Conversion: Easy
WAREHOUSE, STORAGE
$2,605,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$1.96M
Range $1.76M – $2.16M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$377 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$80,707
Tax year 2024
Assessed value
$763,200
Assessed 2024
Previous assessed
$820,800
-7.0% YoY
Effective rate
10.57%
On assessed value
Assessed land
$30,600
Assessed improvement
$732,600
Land market value
$68,000
Improvement market value
$1,628,000
Total market value
$1,696,000
Applied tax rate
4.0000
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
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Status
Off-Market
Year built
1900
Heating
NONE
Buildings
2
Stories
2
Units
1
Total area
5,200 SF
Lot
0.06 ac (2,600 SF)
Zoning code
M1-2
APN
00388-0038
UPID
US63-5686972
Jurisdiction
KINGS(BROOKLYN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
M1-2 · Brooklyn, NY
Zoning M1-2 · permitted uses
M1-2 · Brooklyn, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Brooklyn. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$2.9M
INDUSTRIAL (GENERAL)
Est. value
$3.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.7M
WAREHOUSE, STORAGE
Est. value
$2.6M
OFFICE BUILDING Current
INDUSTRIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1900
Heating
NONE
Stories
2
Buildings
2
Units
1
Lot
0.06 ac
Current owner
From public records · entity-resolved
Jdk Rsc LLC
Entity
Mailing address
100 WINSTON DR, CLIFFSIDE PARK, NJ 07010-3240
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 26, 2017
$2,800,000
Jdk Rsc LLC
Tandem Equities Brooklyn LLC
Deed
$2,240,000 · Jpmorgan Chase Bank, NA
Oct 31, 2012
$1,310,000
Tandem Equities Brooklyn LLC
Aggarwal,navin & Meenakshi
Grant Deed
related
—
Feb 14, 2005
$800,000
Meenakshi Aggarwal
Rawhi Mohamed
Deed
$545,000 · Atlantic Liberty Savings F A
—
—
Navin Aggarwal
—
Deed Of Trust
related
$459,999 · Atlantic Liberty Savings Fa
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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