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Property profile & analytics
OFF-MARKET
Estimated value
$1,610,000
Retail residential properties
1528 Mermaid Ave Brooklyn, NY 11224-2768
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US63-6257219
Property profile
Verified
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Year built
1930
Total area
6,880 SF
Lot
0.04 ac (1,942 SF)
Zoning code
R7A
APN
07063-0002
UPID
US63-6257219
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
-
SMOKE SHOP - Exotics Island convenience corp (Bike/Boat/Book/etc) Store
-
Smoke shop Grocery & Convenience Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.54M
Blend (final)
Blend
$1.61M
Owner & transaction history
1548 Mermaid Ig LLC · 7 yrs held
1548 Mermaid Ig LLC
since 2018
5 recorded transactions
Zoning & alternative use
R7A · Brooklyn, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$2.0M
+20.2%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,620,000
Current use
APARTMENT HOUSE (5+ UNITS)
$1,950,000
Change: +20% · Conversion: Moderate
Blend value · Realmo final
$1.61M
Range $1.45M – $1.77M · ±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
$234 / 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
$12,656
Tax year 2024
Assessed value
$338,400
Assessed 2024
Previous assessed
$423,000
-20.0% YoY
Effective rate
3.74%
On assessed value
Assessed land
$5,400
Assessed improvement
$333,000
Land market value
$12,000
Improvement market value
$740,000
Total market value
$752,000
Applied tax rate
2.0000
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
Retail residential properties
Use group
STORES & APARTMENTS
Status
Off-Market
Year built
1930
Heating
NONE
Buildings
1
Stories
4
Units
8
Total area
6,880 SF
Lot
0.04 ac (1,942 SF)
Zoning code
R7A
APN
07063-0002
UPID
US63-6257219
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
$1.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.0M
COMMERCIAL (GENERAL) Current
APARTMENT HOUSE (5+ UNITS)
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
1930
Heating
NONE
Stories
4
Buildings
1
Units
8
Lot
0.04 ac
Current owner
From public records · entity-resolved
1548 Mermaid Ig LLC
Entity
Mailing address
13943 86TH AVE, JAMAICA, NY 11435-3001
Ownership since
2018
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
Mar 26, 2019
—
1548 Mermaid Ig LLC
—
Deed
related
$985,000 · Esquire Bk
Dec 4, 2018
$1,200,000
1548 Mermaid Ig LLC
Referee Of Kings Brooklyn Cnty|zoloto Realty Corp
Trustees Deed
$1,000,000 · Goten INC
May 20, 2004
$748,000
Zoloto Realty Corp
Galista LLC
Grant Deed
—
—
—
1548 Mermaid Ig LLC
—
Loan Modification
related
$985,000 · Esquire Bk
—
—
Zoloto Realty Corp
—
Deed Of Trust
related
$700,000 · Woori America 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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