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Property profile & analytics
OFF-MARKET
Estimated value
$965,000
Office buildings
2309 Ave Z Z Brooklyn, NY 11235-2805
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US63-0999035
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1930
Total area
2,000 SF
Lot
0.05 ac (2,000 SF)
Zoning code
R4
APN
07441-0537
UPID
US63-0999035
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.08M
CAP Approach
CAP
$820k
Comparable Approach
Comparable
$1.06M
Blend (final)
Blend
$965k
Owner & transaction history
2309 Ave Z LLC · 5 yrs held
2309 Ave Z LLC
since 2020
Last sale
$850,000
3 recorded transactions
Zoning & alternative use
R4 · Brooklyn, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.6M
+59.1%
Retail stores
$1.5M
+51.2%
Warehouse, storage
$1.0M
+0.4%
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
$1,115,000
ML approach
$1,080,000
CAP Approach
CAP Return
Estimation
6%
$885,000
6.5%
$820,000
7%
$760,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,000,000
Current use
AUTO REPAIR, GARAGE
$1,590,000
Change: +59% · Conversion: Difficult
RETAIL STORES
$1,510,000
Change: +51% · Conversion: Moderate
WAREHOUSE, STORAGE
$1,000,000
Change: +0% · Conversion: Difficult
COMMERCIAL (GENERAL)
$845,000
Change: -16% · Conversion: Easy
Blend value · Realmo final
$965k
Range $869k – $1.06M · ±10% · vs last sale $850k (Nov 5 2020)
Last sale anchor
$850k
Nov 5 2020
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
$483 / 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
$15,973
Tax year 2024
Assessed value
$175,950
Assessed 2024
Previous assessed
$153,900
+14.3% YoY
Effective rate
9.08%
On assessed value
Assessed land
$36,450
Assessed improvement
$139,500
Land market value
$81,000
Improvement market value
$310,000
Total market value
$391,000
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
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
1930
Heating
NONE
Buildings
1
Stories
2
Units
1
Total area
2,000 SF
Lot
0.05 ac (2,000 SF)
Zoning code
R4
APN
07441-0537
UPID
US63-0999035
Jurisdiction
KINGS(BROOKLYN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R4 · Brooklyn, NY
Zoning R4 · permitted uses
R4 · 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
OFFICE BUILDING Current
Est. value
$1.0M
AUTO REPAIR, GARAGE
Est. value
$1.6M
RETAIL STORES
Est. value
$1.5M
WAREHOUSE, STORAGE
Est. value
$1.0M
COMMERCIAL (GENERAL)
Est. value
$845,000
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
RETAIL STORES
WAREHOUSE, STORAGE
COMMERCIAL (GENERAL)
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
2
Buildings
1
Units
1
Lot
0.05 ac
Current owner
From public records · entity-resolved
2309 Ave Z LLC
Entity
Mailing address
2309 AVE Z Z, BROOKLYN, NY 11235-2805
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
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
Nov 5, 2020
$850,000
2309 Ave Z LLC
Ast Re Holding INC
Grant Deed
$425,000 · Flushing Bk
Aug 14, 2017
—
Ast Re Holding INC, A New York Corp
—
Deed
related
$640,000 · Gold Coast Bank, A New York Banking Corp
Aug 28, 2009
$645,000
Ast Re Holding INC
M2b Investors Ltd
Grant Deed
$235,000 · M2b Investors Ltd
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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