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Property profile & analytics
OFF-MARKET
Estimated value
$36,750,000
Retail residential properties
240 Wythe Ave Brooklyn, NY 11249-3121
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US63-2261437
Property profile
Verified
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Year built
1928
Total area
68,300 SF
Lot
0.41 ac (18,000 SF)
Zoning code
M12R6A
APN
02349-0023
UPID
US63-2261437
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
-
Warrior Fitness Gym & Fitness Center
-
Local Locker Storage Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$38.15M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$36.75M
Owner & transaction history
H.p. Morgan LLC · 3 yrs held
H.p. Morgan LLC
since 2023
6 recorded transactions
Zoning & alternative use
M12R6A · 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%
$41,320,000
6.5%
$38,145,000
7%
$35,420,000
Blend value · Realmo final
$36.75M
Range $33.08M – $40.43M · ±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
$538 / 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
$891,439
Tax year 2024
Assessed value
$7,708,500
Assessed 2024
Previous assessed
$7,103,700
+8.5% YoY
Effective rate
11.56%
On assessed value
Assessed land
$486,000
Assessed improvement
$7,222,500
Land market value
$1,080,000
Improvement market value
$16,050,000
Total market value
$17,130,000
Applied tax rate
2.0000
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 residential properties
Use group
STORES & APARTMENTS
Status
Off-Market
Year built
1928
Heating
NONE
Buildings
1
Stories
4
Units
57
Total area
68,300 SF
Lot
0.41 ac (18,000 SF)
Zoning code
M12R6A
APN
02349-0023
UPID
US63-2261437
Jurisdiction
KINGS(BROOKLYN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
M12R6A · Brooklyn, NYZoning M12R6A · permitted uses
M12R6A · 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
4
Buildings
1
Units
57
Lot
0.41 ac
Current owner
From public records · entity-resolved
H.p. Morgan LLC
Entity
Mailing address
63 N 3RD ST, BROOKLYN, NY 11249-3945
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 11, 2023
—
H.p. Morgan LLC
—
Deed
related
$672,032 · Jpmorgan Chase Bank NA
—
—
H P Morgan LLC
—
Loan Modification
related
$8,000,000 · Hanover Community Bank
—
—
H P Morgan LLC
—
Deed Of Trust
related
$1,003,228 · Si Bank & Trust
—
—
Hp Morgan LLC
—
Deed Of Trust
related
$5,500,000 · Capital One
—
—
Hp Morgan LLC
—
Deed Of Trust
related
$1,319,472 · Capital One
—
—
Hp Morgan LLC
—
Deed Of Trust
related
$2,634,292 · North Fork Bank
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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