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Property profile & analytics
OFF-MARKET
Estimated value
$7,695,000
Office buildings
1396 Myrtle Ave 1402, Brooklyn, NY 11237-4513
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US63-2896936
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1991
Total area
17,797 SF
Lot
0.16 ac (7,160 SF)
Zoning code
R6
APN
03287-0021
UPID
US63-2896936
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
-
REDCORE Physical Therapy + Wellness Medical Clinic
-
Ms. Meral Duran Physician
-
AVISHAI T. NEWUMAN Physician
-
Dr. Edwin Perez Physician
-
Anna Ibragimova, ANP Association Or Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$7.73M
CAP Approach
CAP
$7.29M
Comparable Approach
Comparable
$7.74M
Blend (final)
Blend
$7.70M
Owner & transaction history
1396 Myrtle LLC · 4 yrs held
1396 Myrtle LLC
since 2021
Last sale
$5.4M
5 recorded transactions
Zoning & alternative use
R6 · Brooklyn, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$10.1M
+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
$8,030,000
ML approach
$7,730,000
CAP Approach
CAP Return
Estimation
6%
$7,895,000
6.5%
$7,285,000
7%
$6,765,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$9,795,000
Current use
INDUSTRIAL (GENERAL)
$10,100,000
Change: +3% · Conversion: Difficult
WAREHOUSE, STORAGE
$8,920,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$7.70M
Range $6.93M – $8.46M · ±10% · vs last sale $5.38M (Oct 27 2021)
Last sale anchor
$5.38M
Oct 27 2021
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
$432 / 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
$45,996
Tax year 2024
Assessed value
$1,023,300
Assessed 2024
Previous assessed
$1,190,250
-14.0% YoY
Effective rate
4.49%
On assessed value
Assessed land
$225,450
Assessed improvement
$797,850
Land market value
$501,000
Improvement market value
$1,773,000
Total market value
$2,274,000
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
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
1991
Heating
NONE
Buildings
1
Stories
3
Units
5
Total area
17,797 SF
Lot
0.16 ac (7,160 SF)
Zoning code
R6
APN
03287-0021
UPID
US63-2896936
Jurisdiction
KINGS(BROOKLYN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R6 · Brooklyn, NY
Zoning R6 · permitted uses
R6 · 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
$9.8M
INDUSTRIAL (GENERAL)
Est. value
$10.1M
WAREHOUSE, STORAGE
Est. value
$8.9M
OFFICE BUILDING Current
INDUSTRIAL (GENERAL)
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
1991
Heating
NONE
Stories
3
Buildings
1
Units
5
Lot
0.16 ac
Current owner
From public records · entity-resolved
1396 Myrtle LLC
Entity
Mailing address
3808 UN ST STE 2I, FLUSHING, NY 11354-5544
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 27, 2021
$5,380,000
1396 Myrtle LLC
Fabrico Enterprises, INC.
Deed
$2,682,258 · Cathay Bank
Sep 2, 2016
—
Fabrico Enterprises INC
—
Deed
related
$231,708 · Jpmorgan Chase Bank NA
—
—
Fabrico Ents INC
—
Deed Of Trust
related
$1,058,006 · New York Community Bank
—
—
Fabrico Ents INC
—
Loan Modification, Consolidation And Extension
related
$1,200,000 · Jp Morgan Chase Bk
—
—
Fabrico Ents INC
—
Deed Of Trust
related
$395,404 · New York Community Bank
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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