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Property profile & analytics
OFF-MARKET
Estimated value
$5,715,000
Retail space
1645 Pitkin Ave, Brooklyn, NY 11212-5644
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US63-0779160
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1930
Total area
10,400 SF
Lot
0.25 ac (10,850 SF)
Zoning code
C4-3
APN
03498-0001
UPID
US63-0779160
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
-
JD Sports Clothing & Fashion Store (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$7.68M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.72M
Owner & transaction history
1645 Pitkin INC. · 3 yrs held
1645 Pitkin INC.
since 2022
4 recorded transactions
Zoning & alternative use
C4-3 · Brooklyn, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$8.3M
+3.2%
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%
$8,310,000
6.5%
$7,675,000
7%
$7,125,000
Alternative Use
Use
Estimation
RETAIL STORES
$8,010,000
Current use
AUTO REPAIR, GARAGE
$8,265,000
Change: +3% · Conversion: Difficult
Blend value · Realmo final
$5.72M
Range $5.14M – $6.29M · ±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
$550 / 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
$120,971
Tax year 2024
Assessed value
$1,323,900
Assessed 2024
Previous assessed
$1,320,750
+0.2% YoY
Effective rate
9.14%
On assessed value
Assessed land
$244,350
Assessed improvement
$1,079,550
Land market value
$543,000
Improvement market value
$2,399,000
Total market value
$2,942,000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1930
Heating
NONE
Buildings
1
Stories
1
Units
1
Total area
10,400 SF
Lot
0.25 ac (10,850 SF)
Zoning code
C4-3
APN
03498-0001
UPID
US63-0779160
Jurisdiction
KINGS(BROOKLYN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
C4-3 · Brooklyn, NY
Zoning C4-3 · permitted uses
C4-3 · 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
RETAIL STORES Current
Est. value
$8.0M
AUTO REPAIR, GARAGE
Est. value
$8.3M
RETAIL STORES Current
AUTO REPAIR, GARAGE
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
1
Buildings
1
Units
1
Lot
0.25 ac
Current owner
From public records · entity-resolved
1645 Pitkin INC.
Entity
Mailing address
316 E 89TH ST, NEW YORK, NY 10128-5037
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 12, 2022
—
1645 Pitkin INC.
—
Deed
related
$1,539,534 · Flushing Bank
Nov 2, 2017
—
1645 Pitkin INC
—
Deed
related
$2,650,000 · Flushing Bk
Jul 2, 2007
—
1645 Pitkin INC
—
Deed Of Trust
related
$19,200,000 · Column Financial INC
—
—
1645 Pitkin INC
—
Deed Of Trust
related
$2,650,000 · Flushing Bk
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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