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1612 Neptune Ave, Brooklyn, NY 11224
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Property summary
AI-generated overview
This exceptional 1,100 square foot traditional office space is ideally located at 1612 Neptune Avenue, 2nd Floor, in Brooklyn, NY 11224. Situated between West 16th and West 17th Streets, this single-tenant property offers a convenient and accessible location. The space boasts a large open office area, perfect for a variety of business configurations, and includes two bathrooms for added convenience. The property is zoned C8-1, providing flexibility for various commercial uses. Its second-floor position offers a degree of privacy and quiet, while its proximity to public transportation ensures easy commutes for employees and clients. This is a fantastic opportunity to secure a well-appointed office space in a thriving Brooklyn neighborhood. The property is ready for immediate occupancy, offering a turnkey solution for businesses seeking a functional and well-located office environment. The building's location provides easy access to local amenities and a vibrant community. This is a rare opportunity to acquire a well-maintained and strategically positioned office space in a highly desirable area. Don't miss out on this chance to establish your business in a prime Brooklyn location.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1928
Total area
3,405 SF
Lot
0.04 ac (1,725 SF)
Zoning code
C8-1
APN
07021-0008
UPID
US63-2704823
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Restaurant
-
Handicapped Transportation Service
-
Employment Agency
-
Freight Service Logistics Company
-
Construction Company General Contractor
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$410k
Owner & transaction history
since 2016
3 recorded transactions
Zoning & alternative use
C8-1 · Brooklyn, NY
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
17% off on annual
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 17 comparables with addresses
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$410k
Value range
$369k – $451k
±10% around blend
Estimated value / SF
$120 / SF
Confidence
High
17 county-verified comps
Property data
100
Market benchmarks
67
Comparable evidence
100
Income certainty
100
$369k
blend $410k
$451k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
3,405 SF
Lot area
0.04 ac
Year built
1928
Stories
3
APN
07021-0008
Zoning
C8-1
Assessed value
$207,000
Annual tax
$19,285
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$19,285
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$3.21M
Weighted, 17 comps · high confidence
Evidence
17 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
5.1 mi away · 4,250 SF
9.5 mi away · 2,560 SF
14.0 mi away · 2,704 SF
14.8 mi away · 2,784 SF
16.1 mi away · 4,266 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$410k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 228 sales
$550
-78%
County 228 sales
$550
-78%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $120/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 17 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$392k
Move the market yield to see immediate price impact.
Value / SF
$115
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$25k
$494k
$353k
$274k
$27k
$549k
$392k
$305k
$30k
$604k
$431k
$335k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
17 found
High confidence · county-verified
Closest comparable
$1.10M
4.2 mi · Feb 2026 · $367/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$19,285
Tax year 2024
Assessed value
$207,000
Assessed 2024
Previous assessed
$182,250
+13.6% YoY
Effective rate
9.32%
On assessed value
Assessed land
$38,700
Assessed improvement
$168,300
Land market value
$86,000
Improvement market value
$374,000
Total market value
$460,000
Applied tax rate
4.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
For Lease
Year built
1928
Heating
NONE
Buildings
1
Stories
3
Units
3
Total area
3,405 SF
Lot
0.04 ac (1,725 SF)
Zoning code
C8-1
APN
07021-0008
UPID
US63-2704823
Jurisdiction
KINGS(BROOKLYN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
C8-1 · Brooklyn, NYZoning C8-1 · permitted uses
C8-1 · Brooklyn, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Building & site characteristics
From public records
Year built
1928
Heating
NONE
Stories
3
Buildings
1
Units
3
Lot
0.04 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
C8-1
Jurisdiction
Brooklyn, NY
Recorded code
C8-1
Ownership Intelligence
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Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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