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Property profile & analytics
OFF-MARKET
Estimated value
$535,000
Motels
2961 Atlantic Ave, Brooklyn, NY 11208
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US63-2184384
Property profile
Verified
Property type
Motels
Use group
MOTEL
Year built
1993
Total area
19,850 SF
Lot
0.48 ac (20,790 SF)
Zoning code
R8A
APN
03954-0045
UPID
US63-2184384
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
$520k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$549k
Blend (final)
Blend
$535k
Owner & transaction history
Shree Ashta Vinayak INC · 8 yrs held
Shree Ashta Vinayak INC
since 2017
4 recorded transactions
Zoning & alternative use
R8A · 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
$520,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$850,000
Current use
Blend value · Realmo final
$535k
Range $482k – $589k · ±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
$27 / 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
$157,712
Tax year 2024
Assessed value
$1,636,200
Assessed 2024
Previous assessed
$1,502,100
+8.9% YoY
Effective rate
9.64%
On assessed value
Assessed land
$748,350
Assessed improvement
$887,850
Land market value
$1,663,000
Improvement market value
$1,973,000
Total market value
$3,636,000
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
Motels
Use group
MOTEL
Status
Off-Market
Year built
1993
Heating
NONE
Buildings
1
Stories
2
Units
1
Total area
19,850 SF
Lot
0.48 ac (20,790 SF)
Zoning code
R8A
APN
03954-0045
UPID
US63-2184384
Jurisdiction
KINGS(BROOKLYN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R8A · Brooklyn, NY
Zoning R8A · permitted uses
R8A · 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
HOTEL/MOTEL Current
Est. value
$850,000
HOTEL/MOTEL Current
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
1993
Heating
NONE
Stories
2
Buildings
1
Units
1
Lot
0.48 ac
Current owner
From public records · entity-resolved
Shree Ashta Vinayak INC
Entity
Mailing address
2961 ATLANTIC AVE, BROOKLYN, NY 11208
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 6, 2017
—
Shree Ashta Vinayak INC
—
Loan Modification, Consolidation And Extension
related
$1,200,000 · Hanmi Bk
Nov 16, 2004
—
Shree Ashta Vinayak INC
—
Deed Of Trust
related
$5,200,000 · Trust Co Of New Jersey
—
—
Shree Ashta Vinayak INC
—
Deed Of Trust
related
$2,500,000 · Capital One
—
—
Shree Ashta Vinayak INC
—
Deed Of Trust
related
$2,500,000 · Trust Co
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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