Entity Owned Property summary
AI-generated overview
The property at 204 Smith St., Brooklyn, NY 11201 is a renovated restaurant space configured with approximately 1,365 square feet on the first floor and an additional approximately 1,365 square feet in the basement, for a total of about 2,730 square feet. It is suited for a food-service use and has historically functioned as a Thai restaurant. The premises are provided under a long-term lease structure (with periodic rent increases), and the lease arrangement is associated with tenant responsibilities including utilities not covered by the listed rent figure (electricity and water), as well as typical tenant screening and financial documentation requirements and a substantial lease deposit.
Property profile
Verified
Property type
Other investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1931
Total area
3,800 SF
Lot
0.04 ac (1,600 SF)
Zoning code
R6B
APN
00402-0039
UPID
US63-2260507
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
-
Restaurant
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.13M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.76M
Blend (final)
Blend
$5.97M
Owner & transaction history
since 2022
Last sale
$5.5M
7 recorded transactions
Zoning & alternative use
R6B · Brooklyn, NY
Top alternative use upside
Retail stores
$6.0M
+62.5%
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.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 8 comparables with addresses
2 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$5.97M
Value range
$5.37M – $6.57M
±10% around blend
Estimated value / SF
$1,571 / SF
Confidence
High
8 county-verified comps
Property data
100
Market benchmarks
100
Comparable evidence
80
$5.37M
blend $5.97M
$6.57M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
3,800 SF
Lot area
0.04 ac
Year built
1931
Stories
3
APN
00402-0039
Zoning
R6B
Assessed value
$776,700
Annual tax
$40,037
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$2.66M
Weighted, 8 comps · high confidence
Evidence
8 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
0.3 mi away · 3,248 SF
0.4 mi away · 2,676 SF
0.5 mi away · 3,749 SF
0.6 mi away · 3,000 SF
0.8 mi away · 4,075 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$5.97M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 79 sales
$969
+62%
Submarket 3044 sales
$491
+220%
County 3044 sales
$491
+220%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $1,571/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Retail Stores
Gross theoretical uplift
+62%
vs current-use indication
Commercial (general) · current use
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
Not available
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: replacement-cost inputs are not on file.
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.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 8 sales
Market rates by use type
PDF export
Professional Plan · 30 reports
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Overview
Implied cap rate
2.30%
Implied, in-place cap rate for this other investment properties
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
NOI (est.)
$385k *
Last sale · Mar 2022
$5.50M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$16.74M
Move the market yield to see immediate price impact.
Value / SF
$4,405
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
1.80%2.30%2.80%
$347k
$19.25M
$15.07M
$12.38M
$385k
$21.39M
$16.74M
$13.75M
$424k
$23.53M
$18.41M
$15.13M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
8 found
High confidence · county-verified
Closest comparable
$2.08M
0.3 mi · Feb 2026 · $589/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$40,037
Tax year 2024
Assessed value
$776,700
Assessed 2024
Previous assessed
$744,750
+4.3% YoY
Effective rate
5.15%
On assessed value
Assessed land
$211,050
Assessed improvement
$565,650
Land market value
$469,000
Improvement market value
$1,257,000
Total market value
$1,726,000
Applied tax rate
2.0000
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
Other investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1931
Heating
NONE
Buildings
1
Stories
3
Units
5
Total area
3,800 SF
Lot
0.04 ac (1,600 SF)
Zoning code
R6B
APN
00402-0039
UPID
US63-2260507
Jurisdiction
KINGS(BROOKLYN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R6B · Brooklyn, NYZoning R6B · permitted uses
R6B · 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
1931
Heating
NONE
Stories
3
Buildings
1
Units
5
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
R6B
Jurisdiction
Brooklyn, NY
Recorded code
R6B
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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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