215 33rd St 23 Brooklyn, NY 11232-2123
Entity Owned
4-yr Hold
~
Est. High Equity
Estimated value (blended)
$4.34M
Range $3.90M – $4.77M (±10%)
Implied cap rate
9.40%
In-place · NOI ÷ last sale
Property ID
US63-2261489
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1917
Total area
13,400 SF
Lot
0.11 ac (5,000 SF)
Zoning code
R6B
APN
00681-0052
UPID
US63-2261489
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
-
Dental Office Pharmacy
-
Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.35M
CAP Approach
CAP
$6.30M
Comparable Approach
Comparable
$3.12M
Blend (final)
Blend
$4.34M
Owner & transaction history
since 2021
Last sale
$4.7M
7 recorded transactions
Zoning & alternative use
R6B · Brooklyn, NY
Top alternative use upside
Office building
$7.4M
+122.5%
Warehouse, storage
$6.4M
+93.5%
Commercial (general)
$5.3M
+59.1%
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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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 7 comparables with addresses
4 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
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Summary
1
Valuation conclusion
Included free
Estimated market value
$4.34M
Value range
$3.90M – $4.77M
±10% around blend
Estimated value / SF
$324 / SF
Confidence
High
7 county-verified comps
Property data
88
Market benchmarks
100
Comparable evidence
70
$3.90M
blend $4.34M
$4.77M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
13,400 SF
Lot area
0.11 ac
Year built
1917
Stories
4
APN
00681-0052
Assessed value
$1,132,650
Annual tax
$132,591
3
Income approach: direct capitalization
Partial preview
Income approach indication
$6.30M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$6.82M
@ 6.5% CAP return
$6.30M
@ 7% CAP return
$5.85M
4
Sales comparison
Partial preview
Sales approach indication
$1.40M
Weighted, 7 comps · high confidence
Evidence
7 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
2.0 mi away · 12,730 SF
2.3 mi away · 10,720 SF
2.4 mi away · 9,806 SF
2.6 mi away · 10,513 SF
2.8 mi away · 12,212 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$4.34M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 38 sales
$247
+31%
Submarket 1780 sales
$283
+14%
County 1780 sales
$283
+14%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $324/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Office Building
Gross theoretical uplift
+123%
vs current-use indication
Warehouse, Storage
Commercial (general)
Apartment House (5+ Units) · 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
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
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 · 7 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
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Overview
Implied cap rate
9.40%
Implied, in-place cap rate for this apartment buildings
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 9.40%
9.0%
NOI (est.)
$331k *
Last sale · Sep 2021
$4.73M
* 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$3.52M
Move the market yield to see immediate price impact.
Value / SF
$263
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
8.90%9.40%9.90%
$298k
$3.34M
$3.17M
$3.01M
$331k
$3.72M
$3.52M
$3.34M
$364k
$4.09M
$3.87M
$3.68M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
7 found
High confidence · county-verified
Closest comparable
$5.00M
1.4 mi · Feb 2026 · $303/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$132,591
Tax year 2024
Assessed value
$1,132,650
Assessed 2024
Previous assessed
$1,108,350
+2.2% YoY
Effective rate
11.71%
On assessed value
Assessed land
$56,250
Assessed improvement
$1,076,400
Land market value
$125,000
Improvement market value
$2,392,000
Total market value
$2,517,000
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1917
Heating
NONE
Buildings
1
Stories
4
Units
24
Total area
13,400 SF
Lot
0.11 ac (5,000 SF)
Zoning code
R6B
APN
00681-0052
UPID
US63-2261489
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
1917
Heating
NONE
Stories
4
Buildings
1
Units
24
Lot
0.11 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
Ownership Intelligence
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Owner identityResolved entity and name variants
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Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
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