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Property profile & analytics
OFF-MARKET
Estimated value
$10,000,000
Office buildings
470-472 Flushing Ave Brooklyn, NY 11205
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US63-3064517
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1931
Total area
22,695 SF
Lot
0.11 ac (5,000 SF)
Zoning code
M1-2
APN
01716-0026
UPID
US63-3064517
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
$9.68M
CAP Approach
CAP
$9.29M
Comparable Approach
Comparable
$8.56M
Blend (final)
Blend
$10.00M
Owner & transaction history
470 Flushing LLC · 3 yrs held
470 Flushing LLC
since 2022
Last sale
$10.7M
1 recorded transaction
Zoning & alternative use
M1-2 · Brooklyn, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$15.4M
+23.4%
Industrial (general)
$12.9M
+3.1%
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
$11,070,000
ML approach
$9,675,000
CAP Approach
CAP Return
Estimation
6%
$10,065,000
6.5%
$9,290,000
7%
$8,630,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$12,495,000
Current use
COMMERCIAL (GENERAL)
$15,415,000
Change: +23% · Conversion: Easy
INDUSTRIAL (GENERAL)
$12,880,000
Change: +3% · Conversion: Difficult
WAREHOUSE, STORAGE
$11,375,000
Change: -9% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$10,685,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$10.00M
Range $9.00M – $11.00M · ±10% · vs last sale $10.70M (Dec 27 2022)
Last sale anchor
$10.70M
Dec 27 2022
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
$441 / 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
$101,791
Tax year 2024
Assessed value
$1,067,850
Assessed 2024
Previous assessed
$960,750
+11.1% YoY
Effective rate
9.53%
On assessed value
Assessed land
$85,500
Assessed improvement
$982,350
Land market value
$190,000
Improvement market value
$2,183,000
Total market value
$2,373,000
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
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
1931
Heating
NONE
Buildings
1
Stories
5
Units
5
Total area
22,695 SF
Lot
0.11 ac (5,000 SF)
Zoning code
M1-2
APN
01716-0026
UPID
US63-3064517
Jurisdiction
KINGS(BROOKLYN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
M1-2 · Brooklyn, NY
Zoning M1-2 · permitted uses
M1-2 · 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
OFFICE BUILDING Current
Est. value
$12.5M
COMMERCIAL (GENERAL)
Est. value
$15.4M
INDUSTRIAL (GENERAL)
Est. value
$12.9M
WAREHOUSE, STORAGE
Est. value
$11.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$10.7M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
WAREHOUSE, STORAGE
APARTMENT HOUSE (5+ UNITS)
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
5
Buildings
1
Units
5
Lot
0.11 ac
Current owner
From public records · entity-resolved
470 Flushing LLC
Entity
Mailing address
470 FLUSHING AVE, BROOKLYN, NY 11205-1614
Ownership since
2022
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
Dec 27, 2022
$10,700,000
470 Flushing LLC
Triple L Realty Corp.
Deed
$6,450,000 · Golden Bridge R2 LLC
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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