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Property profile & analytics
FOR LEASE
Manufacturing properties
348 Troutman St, Brooklyn, NY 11237
Entity Owned
3-yr Hold
Free & Clear
Property ID
US63-6091371
For Lease
$40 SF/Yr
348 Troutman St, Brooklyn, NY 11237
View Listing →
Property profile
Verified
Property type
Manufacturing properties
Use group
FACTORY (MANUFACTURING)
Year built
1931
Total area
20,565 SF
Lot
0.42 ac (18,162 SF)
Zoning code
M1-1
APN
03188-0010
UPID
US63-6091371
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
$11.71M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$10.49M
Blend (final)
Blend
$9.46M
Owner & transaction history
Troutman Terrace LLC · 3 yrs held
Troutman Terrace LLC
since 2023
Last sale
$8.5M
4 recorded transactions
Zoning & alternative use
M1-1 · 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
$11,895,000
ML approach
$11,710,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$11,670,000
Current use
OFFICE BUILDING
$11,320,000
Change: -3% · Conversion: Difficult
WAREHOUSE, STORAGE
$10,305,000
Change: -12% · Conversion: Easy
Blend value · Realmo final
$9.46M
Range $8.51M – $10.40M · ±10% · vs last sale $8.50M (Feb 22 2023)
Last sale anchor
$8.50M
Feb 22 2023
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
$460 / 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
$95,271
Tax year 2024
Assessed value
$984,600
Assessed 2024
Previous assessed
$971,100
+1.4% YoY
Effective rate
9.68%
On assessed value
Assessed land
$326,700
Assessed improvement
$657,900
Land market value
$726,000
Improvement market value
$1,462,000
Total market value
$2,188,000
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
Manufacturing properties
Use group
FACTORY (MANUFACTURING)
Status
For Lease
Year built
1931
Heating
NONE
Buildings
2
Stories
2
Units
5
Total area
20,565 SF
Lot
0.42 ac (18,162 SF)
Zoning code
M1-1
APN
03188-0010
UPID
US63-6091371
Jurisdiction
KINGS(BROOKLYN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
M1-1 · Brooklyn, NY
Zoning M1-1 · permitted uses
M1-1 · 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
INDUSTRIAL (GENERAL) Current
Est. value
$11.7M
OFFICE BUILDING
Est. value
$11.3M
WAREHOUSE, STORAGE
Est. value
$10.3M
INDUSTRIAL (GENERAL) Current
OFFICE BUILDING
WAREHOUSE, STORAGE
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
1931
Heating
NONE
Stories
2
Buildings
2
Units
5
Lot
0.42 ac
Current owner
From public records · entity-resolved
Troutman Terrace LLC
Entity
Free & Clear · 3 yrs held
Mailing address
706 MYRTLE AVE STE 1B, BROOKLYN, NY 11205-3881
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 22, 2023
$8,500,000
Troutman Terrace LLC
Going Stagg LLC
Deed
—
Mar 21, 2016
$10,500,000
Going Stagg LLC
Master Equity LLC
Deed
$6,351,100 · Signature Bank
Dec 12, 2005
$1,725,000
Master Equity LLC
Troutman Acquisition Corp
Grant Deed
$1,130,000 · Bank Of China
—
—
Master Equity LLC
—
Loan Modification
related
$1,010,128 · Bank Of China
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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