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Property profile & analytics
OFF-MARKET
Estimated value
$9,300,000
Commercial real estate
498 Nevins St, Brooklyn, NY 11215
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US63-2678658
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1960
Total area
25,430 SF
Lot
2.34 ac (102,061 SF)
Zoning code
M14R72
APN
00439-0001
UPID
US63-2678658
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$9.30M
Owner & transaction history
Gowanus Nevins North LLC · 2 yrs held
Gowanus Nevins North LLC
since 2024
7 recorded transactions
Zoning & alternative use
M14R72 · 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$14,435,000
Change: -17% · Conversion: Moderate
OFFICE BUILDING
$14,000,000
Change: -20% · Conversion: Easy
Blend value · Realmo final
$9.30M
Range $8.37M – $10.23M · ±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
$366 / 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
$110,809
Tax year 2024
Assessed value
$3,547,800
Assessed 2024
Previous assessed
$2,136,600
+66.0% YoY
Effective rate
3.12%
On assessed value
Assessed land
$3,547,800
Land market value
$7,884,000
Total market value
$7,884,000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1960
Heating
NONE
Buildings
1
Stories
1
Units
1
Total area
25,430 SF
Lot
2.34 ac (102,061 SF)
Zoning code
M14R72
APN
00439-0001
UPID
US63-2678658
Jurisdiction
KINGS(BROOKLYN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
M14R72 · Brooklyn, NY
Zoning M14R72 · permitted uses
M14R72 · 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)
Est. value
$14.4M
OFFICE BUILDING
Est. value
$14.0M
INDUSTRIAL (GENERAL)
OFFICE BUILDING
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
1960
Heating
NONE
Stories
1
Buildings
1
Units
1
Lot
2.34 ac
Current owner
From public records · entity-resolved
Gowanus Nevins North LLC
Entity
Mailing address
19 W 24TH ST FL #12, NEW YORK, NY 10010-3310
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 17, 2024
—
Nevins Debt Lender LLC
—
Deed
related
—
Jul 3, 2024
—
Gowanus Nevins North LLC
—
Deed
related
$22,694,495 · Nevins Debt Lender LLC
Jun 24, 2024
—
Gowanus Nevins North LLC
Gowanus 300 Nevins Street LLC
Deed
$22,950,000 · Acore Capital Mortgage, LP
Apr 19, 2023
—
Gowanus Nevins Street Oz Holdings L
Gowanus Nevins Street Nom Two LLC
Deed
—
Jan 26, 2022
$102,000,000
Gowanus 300 Nevins Street LLC
Nevins Street Holdings, LLC
Deed
$45,900,000 · Acore Capital Mortgage, LP
Apr 9, 2020
—
Nevins Street Holdings LLC
—
Deed
related
$7,000,000 · First Republic Bank
Mar 16, 2017
—
Carroll Street Holdings LLC
—
Loan Modification, Consolidation And Extension
related
$23,000,000 · Private Individual
Dec 17, 2012
$14,000,000
Nevins Street Holdings LLC
Kjellgren,joyce A
Grant Deed
$7,000,000 · Joyce A Kjellgren
—
—
Nevins Street Holdings LLC
—
Loan Modification, Consolidation And Extension
related
$10,000,000 · Santander Bk NA
—
—
Joyce A Kjellgren
—
Deed Of Trust
related
$414,971 · Jamaica Savings Bank
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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