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Property profile & analytics
OFF-MARKET
Estimated value
$675,000
Office Spaces
143 Classon Ave REC1, Brooklyn, NY 11205-2648
Entity Owned
3-yr Hold
Free & Clear
Property ID
US63-5045228
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
2005
Total area
878 SF
Zoning code
M1-1
APN
01896-1118
UPID
US63-5045228
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
-
Blue Tree Financing Bank Credit Union
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$660k
CAP Approach
CAP
$490k
Comparable Approach
Comparable
$564k
Blend (final)
Blend
$675k
Owner & transaction history
143 Rec 1 LLC · 3 yrs held
143 Rec 1 LLC
since 2023
Last sale
$683,468
2 recorded transactions
Zoning & alternative use
M1-1 · Brooklyn, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$700,000
+17.0%
Retail stores
$675,000
+13.4%
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
$680,000
ML approach
$660,000
CAP Approach
CAP Return
Estimation
6%
$530,000
6.5%
$490,000
7%
$455,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$595,000
Current use
AUTO REPAIR, GARAGE
$700,000
Change: +17% · Conversion: Difficult
RETAIL STORES
$675,000
Change: +13% · Conversion: Easy
OFFICE BUILDING
$485,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$675k
Range $608k – $743k · ±10% · vs last sale $683k (May 3 2023)
Last sale anchor
$683k
May 3 2023
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
$769 / 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
$224
Tax year 2024
Assessed value
$57,086
Assessed 2024
Previous assessed
$51,541
+10.8% YoY
Effective rate
0.39%
On assessed value
Assessed land
$4,452
Assessed improvement
$52,634
Land market value
$9,894
Improvement market value
$116,964
Total market value
$126,858
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 Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
2005
Heating
NONE
Buildings
1
Stories
5
Units
1
Total area
878 SF
Zoning code
M1-1
APN
01896-1118
UPID
US63-5045228
Jurisdiction
KINGS(BROOKLYN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
M1-1 · Brooklyn, NY
Zoning M1-1 · permitted uses
M1-1 · 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
$595,000
AUTO REPAIR, GARAGE
Est. value
$700,000
RETAIL STORES
Est. value
$675,000
OFFICE BUILDING
Est. value
$485,000
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
RETAIL STORES
OFFICE BUILDING
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
2005
Heating
NONE
Stories
5
Buildings
1
Units
1
Current owner
From public records · entity-resolved
143 Rec 1 LLC
Entity
Free & Clear · 3 yrs held
Mailing address
143 CLASSON AVE APT 1B, BROOKLYN, NY 11205-2649
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
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
May 3, 2023
$683,468
143 Rec 1 LLC
Hoffman Assoc LLC
Deed
—
Nov 18, 2015
$86,697
Hoffman Assoc LLC
Classon Estates One LLC
Grant Deed
$50,000 · * Other Institutional Lenders
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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