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Property profile & analytics
OFF-MARKET
Estimated value
$2,790,000
Warehouses
261 48th St, Brooklyn, NY 11220
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US63-0881191
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1985
Total area
5,092 SF
Lot
0.12 ac (5,092 SF)
Zoning code
M12D
APN
00763-0055
UPID
US63-0881191
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
$3.31M
CAP Approach
CAP
$1.98M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.79M
Owner & transaction history
Wl Warehouse LLC · 6 yrs held
Wl Warehouse LLC
since 2020
Last sale
$2.7M
1 recorded transaction
Zoning & alternative use
M12D · Brooklyn, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$4.0M
+58.5%
Retail stores
$3.9M
+53.7%
Industrial (general)
$2.9M
+13.3%
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
$3,270,000
ML approach
$3,310,000
CAP Approach
CAP Return
Estimation
6%
$2,145,000
6.5%
$1,980,000
7%
$1,835,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$2,550,000
Current use
AUTO REPAIR, GARAGE
$4,045,000
Change: +59% · Conversion: Easy
RETAIL STORES
$3,920,000
Change: +54% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$2,890,000
Change: +13% · Conversion: Easy
COMMERCIAL (GENERAL)
$2,425,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$2.79M
Range $2.51M – $3.07M · ±10% · vs last sale $2.70M (Jun 5 2020)
Last sale anchor
$2.70M
Jun 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
$548 / 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
$38,447
Tax year 2024
Assessed value
$459,000
Assessed 2024
Previous assessed
$427,050
+7.5% YoY
Effective rate
8.38%
On assessed value
Assessed land
$45,900
Assessed improvement
$413,100
Land market value
$102,000
Improvement market value
$918,000
Total market value
$1,020,000
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
1985
Heating
NONE
Buildings
1
Stories
1
Units
1
Total area
5,092 SF
Lot
0.12 ac (5,092 SF)
Zoning code
M12D
APN
00763-0055
UPID
US63-0881191
Jurisdiction
KINGS(BROOKLYN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
M12D · Brooklyn, NY
Zoning M12D · permitted uses
M12D · 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
WAREHOUSE, STORAGE Current
Est. value
$2.6M
AUTO REPAIR, GARAGE
Est. value
$4.0M
RETAIL STORES
Est. value
$3.9M
INDUSTRIAL (GENERAL)
Est. value
$2.9M
COMMERCIAL (GENERAL)
Est. value
$2.4M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
RETAIL STORES
INDUSTRIAL (GENERAL)
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
1985
Heating
NONE
Stories
1
Buildings
1
Units
1
Lot
0.12 ac
Current owner
From public records · entity-resolved
Wl Warehouse LLC
Entity
Mailing address
1407 BROADWAY RM #801, NEW YORK, NY 10018-3295
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 5, 2020
$2,700,000
Wl Warehouse LLC
259 48th Street Corp
Deed
$1,800,000 · East West 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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