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Property profile & analytics
OFF-MARKET
Estimated value
$845,000
Warehouses
224 Clarkson Ave Brooklyn, NY 11226-2102
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US63-0857901
Property summary
AI-generated overview
This exceptional 30,000 square foot residential development site is located at 224 Clarkson Avenue in the Prospect-Lefferts Gardens section of Brooklyn, New York, (APN: 05066-0023). The property, measuring 150 x 200 feet, is zoned R7-1, offering a significant buildable area. With a Floor Area Ratio (FAR) of 3.44 (4.8 with Community Facility), the potential buildable square footage is 150,000 square feet. Currently improved with a 24,000 square foot warehouse and parking area, the site presents a unique opportunity for redevelopment. The existing tenant is on a month-to-month lease and can be delivered vacant. The property's 2022-2023 tax assessor's market value was $1,003,000, with a current annual tax bill of $48,050.72. The current tenant generates $253,000 in annual rent. This prime Brooklyn location offers substantial upside potential for a savvy investor seeking a high-value development project. The asking price for this exceptional opportunity is $29,000,000.
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1928
Total area
24,000 SF
Lot
0.69 ac (30,000 SF)
Zoning code
R7-1
APN
05066-0023
UPID
US63-0857901
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
-
DripDrop Waterproofing NYC Division General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$845k
Owner & transaction history
3rd Avenue Retail Enterprises LLC · 1 yrs held
3rd Avenue Retail Enterprises LLC
since 2025
3 recorded transactions
Zoning & alternative use
R7-1 · 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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$845k
Range $761k – $930k · ±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
$35 / 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
$62,208
Tax year 2024
Assessed value
$694,800
Assessed 2024
Previous assessed
$676,800
+2.7% YoY
Effective rate
8.95%
On assessed value
Assessed land
$405,000
Assessed improvement
$289,800
Land market value
$900,000
Improvement market value
$644,000
Total market value
$1,544,000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1928
Heating
NONE
Buildings
1
Stories
1
Units
2
Total area
24,000 SF
Lot
0.69 ac (30,000 SF)
Zoning code
R7-1
APN
05066-0023
UPID
US63-0857901
Jurisdiction
KINGS(BROOKLYN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R7-1 · Brooklyn, NYZoning R7-1 · permitted uses
R7-1 · Brooklyn, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1928
Heating
NONE
Stories
1
Buildings
1
Units
2
Lot
0.69 ac
Current owner
From public records · entity-resolved
3rd Avenue Retail Enterprises LLC
Entity
Free & Clear · 1 yrs held
Mailing address
9709 64TH RD STE #203, REGO PARK, NY 11374-2254
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 23, 2025
—
3rd Avenue Retail Enterprises LLC
299 Clarkson LLC
Deed
—
Jul 23, 2025
$20,000,000
224 Clarkson LLC
3rd Avenue Retail Enterprises LLC
Deed
$15,000,000 · Valley National Bank
Feb 11, 2005
—
299 Clarkson LLC
Home & Construction Corp
Grant Deed
related
—
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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