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1616 Voorhies Ave, Brooklyn, NY 11235
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Property summary
AI-generated overview
This exceptional 8,000 square foot commercial lot is situated in the desirable Sheepshead Bay neighborhood of Brooklyn, New York, at 1616 Voorhies Avenue, zip code 11235. The property is listed at $995,000 and offers significant potential for various commercial ventures. Currently housing a well-established and profitable hair salon with a long-term lease (7.5 years remaining with a 5-year option), the property boasts impressive financial performance. The salon generates a total annual income of $480,000 ($40,000 monthly) with low annual expenses of $178,200, resulting in a substantial net income of $301,800 per year. The building features a ceiling height ranging from 11 to 15 feet. The property's convenient location is a key asset, being just half a block from the Sheepshead Bay train station, and in close proximity to the Sheepshead Bay Road shopping center, numerous restaurants, and Emmons Avenue. This presents a unique opportunity to acquire a high-performing commercial property in a thriving Brooklyn location. The lot size is 8,000 square feet, with a total building square footage of 6,400 square feet. This property is ideal for investors seeking a strong return on investment in a prime commercial area.
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1983
Total area
4,800 SF
Lot
0.1 ac (4,445 SF)
Zoning code
R4
APN
08770-0007
UPID
US63-0789589
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
-
Photography Service (Bike/Boat/Book/etc) Store
-
Physician Medical Clinic
-
Medical Laboratory
-
Hair Salon Nail Salon
-
Nail Salon
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.97M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$590k
Owner & transaction history
since 2020
1 recorded transaction
Zoning & alternative use
R4 · Brooklyn, NY
Top alternative use upside
Warehouse, storage
$2.4M
+0.4%
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.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 10 comparables with addresses
3 alternative uses screened
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
$590k
Value range
$531k – $649k
±10% around blend
Estimated value / SF
$123 / SF
Confidence
High
10 county-verified comps
Property data
100
Market benchmarks
100
Comparable evidence
100
$531k
blend $590k
$649k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
4,800 SF
Lot area
0.1 ac
Year built
1983
Stories
1
APN
08770-0007
Zoning
R4
Assessed value
$502,650
Annual tax
$46,595
3
Income approach: direct capitalization
Partial preview
Income approach indication
$1.97M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$2.13M
@ 6.5% CAP return
$1.97M
@ 7% CAP return
$1.83M
4
Sales comparison
Partial preview
Sales approach indication
$3.29M
Weighted, 10 comps · high confidence
Evidence
10 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
6.7 mi away · 4,250 SF
7.0 mi away · 4,592 SF
12.9 mi away · 4,900 SF
14.5 mi away · 5,658 SF
17.9 mi away · 4,266 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$590k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 20 sales
$499
-75%
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 $123/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Warehouse, Storage
Gross theoretical uplift
+0%
vs current-use indication
Office Building · current use
Commercial (general)
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
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
Not available
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 · 10 sales
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$503k
Move the market yield to see immediate price impact.
Value / SF
$105
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%
$32k
$633k
$452k
$352k
$35k
$704k
$503k
$391k
$39k
$774k
$553k
$430k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
10 found
High confidence · county-verified
Closest comparable
$3.75M
6.1 mi · Jan 2026 · $694/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$46,595
Tax year 2024
Assessed value
$502,650
Assessed 2024
Previous assessed
$435,150
+15.5% YoY
Effective rate
9.27%
On assessed value
Assessed land
$108,000
Assessed improvement
$394,650
Land market value
$240,000
Improvement market value
$877,000
Total market value
$1,117,000
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
PROFESSIONAL BUILDING
Status
For Sale
Year built
1983
Heating
NONE
Buildings
1
Stories
1
Units
1
Total area
4,800 SF
Lot
0.1 ac (4,445 SF)
Zoning code
R4
APN
08770-0007
UPID
US63-0789589
Jurisdiction
KINGS(BROOKLYN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R4 · Brooklyn, NYZoning R4 · permitted uses
R4 · Brooklyn, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1983
Heating
NONE
Stories
1
Buildings
1
Units
1
Lot
0.1 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
R4
Jurisdiction
Brooklyn, NY
Recorded code
R4
Ownership Intelligence
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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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