1508 Pitkin Ave Brooklyn, NY 11212
Property profile & analytics
1508 Pitkin Ave Brooklyn, NY 11212
- Retail residential properties
- 5,700 SF
- 0.05 lot acres
Property ID
US63-0849051
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Retail residential properties
Property Details for 1508 Pitkin Ave
- Year built
- 1930
- Lot size
- 0.05 lot acres
- Property size
- 5,700 SF
- Zone code
- C4-3
- Property type
- Retail residential properties
- APN
- 03514-0035
- APU
- 35140035
Description
This exceptional three-story mixed-use building, located at 1508 Pitkin Avenue in the Brownsville section of Brooklyn, Kings County, New York (zip code 11212), presents a compelling investment opportunity. The property boasts 5,700 square feet of net rentable space, currently divided into four large free-market apartments and one commercial unit. The building is fully occupied, offering a 100% occupancy rate and a strong net operating income (NOI) of $120,667, resulting in an attractive 8% capitalization rate. The asking price is $1,508,000, translating to $264.56 per square foot. Built in 1930, this well-maintained property sits on a 2,323 square foot lot and is zoned C4-3. Tenants are responsible for heating costs. The building's strong financial performance is further highlighted by a gross income of $155,240 and a gross rent multiplier (GRM) of 9.72. The presence of a long-term commercial tenant adds to the stability and appeal of this investment. This is a rare opportunity to acquire a well-located, high-performing mixed-use property in a rapidly developing Brooklyn neighborhood.
Value Estimations
based on Realmo’s proprietary methodology
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,578,000
Market price range: $844k - $1.89M -
Alternative Use
- Use
- Estimation
- COMMERCIAL (GENERAL)
- $1,370,000 Current use
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.9179
- Latitude
- 40.6684
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$23,355
$47,250
$191,700
$238,950
-
$105,000
$426,000
$531,000
