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Property profile & analytics
FOR SALE
Investment properties
1397 Flatbush Ave, Brooklyn, NY 11210
Entity Owned
2-yr Hold
Free & Clear
Property ID
US63-5126838
For Sale
1 / 2
$1,225,000
1397 Flatbush Ave, Brooklyn, NY 11210
View Listing →
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1933
Total area
2,280 SF
Lot
0.02 ac (660 SF)
Zoning code
R7A
APN
05228-0012
UPID
US63-5126838
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
-
Distinction Ta2 Tattoos Tattoo & Piercing Shop
-
L&L barbershop Hair Salon
-
Gothic City Ink Tattoo & Piercing Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$900k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$592k
Blend (final)
Blend
$900k
Owner & transaction history
Flatbush Farragut, LLC · 2 yrs held
Flatbush Farragut, LLC
since 2024
Last sale
$900,000
2 recorded transactions
Zoning & alternative use
R7A · Brooklyn, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.3M
+56.6%
Warehouse, storage
$1.1M
+42.6%
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
$900,000
ML approach
$900,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$800,000
Current use
OFFICE BUILDING
$1,255,000
Change: +57% · Conversion: Easy
WAREHOUSE, STORAGE
$1,145,000
Change: +43% · Conversion: Difficult
Blend value · Realmo final
$900k
Range $810k – $990k · ±10% · vs last sale $900k (Mar 11 2024)
Last sale anchor
$900k
Mar 11 2024
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
$395 / 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
$5,169
Tax year 2024
Assessed value
$58,380
Assessed 2024
Previous assessed
$67,440
-13.4% YoY
Effective rate
8.85%
On assessed value
Assessed land
$9,240
Assessed improvement
$49,140
Land market value
$154,000
Improvement market value
$819,000
Total market value
$973,000
Applied tax rate
1.0000
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
For Sale
Year built
1933
Heating
NONE
Buildings
1
Stories
3
Units
3
Total area
2,280 SF
Lot
0.02 ac (660 SF)
Zoning code
R7A
APN
05228-0012
UPID
US63-5126838
Jurisdiction
KINGS(BROOKLYN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R7A · Brooklyn, NY
Zoning R7A · permitted uses
R7A · 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
COMMERCIAL (GENERAL) Current
Est. value
$800,000
OFFICE BUILDING
Est. value
$1.3M
WAREHOUSE, STORAGE
Est. value
$1.1M
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
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
1933
Heating
NONE
Stories
3
Buildings
1
Units
3
Lot
0.02 ac
Current owner
From public records · entity-resolved
Flatbush Farragut, LLC
Entity
Free & Clear · 2 yrs held
Mailing address
1397 FLATBUSH AVE, BROOKLYN, NY 11210-1465
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 11, 2024
$900,000
Flatbush Farragut, LLC
Napolitano Properties, LLC
Deed
—
Feb 10, 2006
—
Napolitano Properties LLC
Hyacinth Beadle
Intrafamily Transfer
related
$607,500 · Flushing Savings 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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