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Property profile & analytics
OFF-MARKET
Estimated value
$875,000
Car washes
1617 Neptune Ave, Brooklyn, NY 11224-2717
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US63-2932047
Property summary
AI-generated overview
This exceptional 6,000 square foot commercial land parcel in Brooklyn, New York, presents a unique investment opportunity. Located at 1617 Neptune Avenue, this property boasts a highly desirable corner location with significant foot and vehicle traffic. Currently featuring an active car wash business, the property offers immediate income potential. The expansive lot provides ample space for the existing car wash operation and allows for additional development or subleasing opportunities, maximizing return on investment. The lot size is 6,000 square feet, offering flexibility for various commercial ventures. The property is being offered for sale at $3,999,999. Building features include a ceiling height ranging from 16 to 20 feet, providing ample vertical space for various uses. This is a rare chance to acquire a well-situated commercial property in a thriving Brooklyn neighborhood. The property is being offered for sale for the first time. The address is 1617 Neptune Avenue, Brooklyn, NY 11224, in Kings (Brooklyn) County. This is a single-unit property. Serious inquiries are encouraged.
Property profile
Verified
Property type
Car washes
Use group
CAR WASH
Year built
1932
Total area
6,000 SF
Lot
0.14 ac (6,000 SF)
Zoning code
M1-2
APN
06995-0001
UPID
US63-2932047
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
-
Colcur Enterprises Inc Car Wash
-
Coney Island Car Wash Car Wash
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$600k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.15M
Blend (final)
Blend
$875k
Owner & transaction history
The D.e. Building Corp. · 2 yrs held
The D.e. Building Corp.
since 2023
1 recorded transaction
Zoning & alternative use
M1-2 · Brooklyn, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$600,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$875k
Range $788k – $963k · ±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
$146 / 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
$39,409
Tax year 2024
Assessed value
$447,300
Assessed 2024
Previous assessed
$381,150
+17.4% YoY
Effective rate
8.81%
On assessed value
Assessed land
$72,900
Assessed improvement
$374,400
Land market value
$162,000
Improvement market value
$832,000
Total market value
$994,000
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
Car washes
Use group
CAR WASH
Status
Off-Market
Year built
1932
Heating
NONE
Buildings
1
Stories
1
Units
3
Total area
6,000 SF
Lot
0.14 ac (6,000 SF)
Zoning code
M1-2
APN
06995-0001
UPID
US63-2932047
Jurisdiction
KINGS(BROOKLYN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
M1-2 · Brooklyn, NY
Zoning M1-2 · permitted uses
M1-2 · 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.
Building & site characteristics
From public records
Year built
1932
Heating
NONE
Stories
1
Buildings
1
Units
3
Lot
0.14 ac
Current owner
From public records · entity-resolved
The D.e. Building Corp.
Entity
Mailing address
71 ALMOND ST, STATEN ISLAND, NY 10312-2201
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 18, 2023
—
The D.e. Building Corp.
—
Deed
related
$415,000 · Consumers Federal Credit Union
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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