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Property profile & analytics
OFF-MARKET
Estimated value
$960,000
Office buildings
478 Bay Rdg Pkwy Brooklyn, NY 11209-2724
Entity Owned
12-yr Hold
Free & Clear
Property ID
US63-3096116
Property summary
AI-generated overview
This exceptional commercial property at 478 Bay Ridge Parkway in Brooklyn, NY, offers 3,240 square feet of space on a 2,000 square foot lot. Zoned R5B, this special purpose property is currently configured as a single suite, ideal for multiple tenants. Recently renovated, approximately 1,000 square feet features a welcoming reception area and four private offices, perfect for professional office use. The neutral-colored walls and carpeted flooring provide a blank canvas for tenant customization. Its prime location just off 5th Avenue in the Bay Ridge neighborhood ensures high foot and vehicular traffic, with convenient access to major roads and public transportation. The building benefits from its proximity to numerous professional and creative businesses, as well as national anchor tenants. This versatile space is suitable for a variety of professional uses, including medical or creative offices. The property's location and amenities make it a highly desirable commercial opportunity in a thriving Brooklyn neighborhood. The property is located in New York County, zip code 11209.
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1930
Total area
3,240 SF
Lot
0.05 ac (2,000 SF)
Zoning code
R5B
APN
05941-0039
UPID
US63-3096116
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
Current use
Occupant on record · Public records
-
DiConza Larocca DiCunto & Kaplin LLP Law Firm
-
May Makki Foster Care Service Social Service Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.33M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$960k
Owner & transaction history
Kaplar Realty LLC · 12 yrs held
Kaplar Realty LLC
since 2014
2 recorded transactions
Zoning & alternative use
R5B · 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
by Request
CAP Approach
CAP Return
Estimation
6%
$1,435,000
6.5%
$1,325,000
7%
$1,230,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,555,000
Change: -13% · Conversion: Easy
Blend value · Realmo final
$960k
Range $864k – $1.06M · ±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
$296 / 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
$26,826
Tax year 2024
Assessed value
$325,350
Assessed 2024
Previous assessed
$297,450
+9.4% YoY
Effective rate
8.25%
On assessed value
Assessed land
$76,500
Assessed improvement
$248,850
Land market value
$170,000
Improvement market value
$553,000
Total market value
$723,000
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
PROFESSIONAL BUILDING
Status
Off-Market
Year built
1930
Heating
NONE
Buildings
1
Stories
2
Units
3
Total area
3,240 SF
Lot
0.05 ac (2,000 SF)
Zoning code
R5B
APN
05941-0039
UPID
US63-3096116
Jurisdiction
KINGS(BROOKLYN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R5B · Brooklyn, NY
Zoning R5B · permitted uses
R5B · 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
COMMERCIAL (GENERAL)
Est. value
$1.6M
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
1930
Heating
NONE
Stories
2
Buildings
1
Units
3
Lot
0.05 ac
Current owner
From public records · entity-resolved
Kaplar Realty LLC
Entity
Free & Clear · 12 yrs held
Mailing address
478 BAY RDG PKWY, BROOKLYN, NY 11209-2724
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2014
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 4, 2014
—
Kaplar Realty LLC
Larocca,stephen R
Grant Deed
—
Nov 18, 2005
—
Stephen R Larocca
Larocca,eileen J & Stephen R
Quit Claim Deed
related
—
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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