Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$10,250,000
Medical Office Space
437 Ovington Ave Brooklyn, NY 11209-1504
Entity Owned
2-yr Hold
Free & Clear
Property ID
US63-2266233
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL CLINIC
Year built
1959
Total area
46,704 SF
Lot
0.49 ac (21,505 SF)
Zoning code
R3X
APN
05873-0077
UPID
US63-2266233
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
$10.25M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$10.25M
Owner & transaction history
New York City School Construction A · 2 yrs held
New York City School Construction A
since 2024
Last sale
$10.3M
2 recorded transactions
Zoning & alternative use
R3X · Brooklyn, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$8.5M
+220.6%
Retail stores
$7.6M
+187.1%
Auto repair, garage
$7.5M
+183.3%
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
$10,250,000
ML approach
$10,250,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$8,525,000
Change: +221% · Conversion: Difficult
RETAIL STORES
$7,635,000
Change: +187% · Conversion: Difficult
AUTO REPAIR, GARAGE
$7,535,000
Change: +183% · Conversion: Difficult
Blend value · Realmo final
$10.25M
Range $9.23M – $11.28M · ±10% · vs last sale $10.25M (Feb 2 2024)
Last sale anchor
$10.25M
Feb 2 2024
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
$219 / 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
Assessed value
$2,839,050
Assessed 2024
Previous assessed
$2,781,900
+2.1% YoY
Assessed land
$603,000
Assessed improvement
$2,236,050
Land market value
$1,340,000
Improvement market value
$4,969,000
Total market value
$6,309,000
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
Medical Office Space
Use group
MEDICAL CLINIC
Status
Off-Market
Year built
1959
Heating
NONE
Buildings
2
Stories
5
Total area
46,704 SF
Lot
0.49 ac (21,505 SF)
Zoning code
R3X
APN
05873-0077
UPID
US63-2266233
Jurisdiction
KINGS(BROOKLYN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R3X · Brooklyn, NY
Zoning R3X · permitted uses
R3X · 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
RESTAURANT
Est. value
$8.5M
RETAIL STORES
Est. value
$7.6M
AUTO REPAIR, GARAGE
Est. value
$7.5M
RESTAURANT
RETAIL STORES
AUTO REPAIR, GARAGE
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
1959
Heating
NONE
Stories
5
Buildings
2
Lot
0.49 ac
Current owner
From public records · entity-resolved
New York City School Construction A
Entity
Free & Clear · 2 yrs held
Mailing address
3030 THOMSON AVE, LONG ISLAND CITY, NY 11101-3019
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 2, 2024
$10,250,000
New York City School Construction A
St. Nicholas Home, INC.
Deed
—
Jan 2, 2020
—
St Nicholas Home INC
—
Grant Deed
related
$2,300,000 · Northeast Bk
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 437 Ovington Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
