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Property profile & analytics
OFF-MARKET
Estimated value
$5,105,000
Retail residential properties
509 Myrtle Ave, Brooklyn, NY 11205-2621
Entity Owned
19-yr Hold
~
Est. High Equity
Property ID
US63-0081510
Property profile
Verified
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Year built
1948
Total area
11,880 SF
Lot
0.07 ac (3,000 SF)
Zoning code
R7A
APN
01892-0074
UPID
US63-0081510
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
-
Matthew Stone: New York Real Estate | Digital Media Real Estate Agency
-
Soco Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$6.64M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.11M
Owner & transaction history
509 Myrtle Avenue LLC · 19 yrs held
509 Myrtle Avenue LLC
since 2007
7 recorded transactions
Zoning & alternative use
R7A · 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%
$7,185,000
6.5%
$6,635,000
7%
$6,160,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$8,070,000
Current use
INDUSTRIAL (GENERAL)
$6,745,000
Change: -16% · Conversion: Moderate
OFFICE BUILDING
$6,540,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$5.11M
Range $4.59M – $5.62M · ±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
$430 / 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
$112,449
Tax year 2024
Assessed value
$1,589,400
Assessed 2024
Previous assessed
$1,422,000
+11.8% YoY
Effective rate
7.07%
On assessed value
Assessed land
$141,750
Assessed improvement
$1,447,650
Land market value
$315,000
Improvement market value
$3,217,000
Total market value
$3,532,000
Applied tax rate
2.0000
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
Retail residential properties
Use group
STORES & APARTMENTS
Status
Off-Market
Year built
1948
Heating
NONE
Buildings
1
Stories
6
Units
11
Total area
11,880 SF
Lot
0.07 ac (3,000 SF)
Zoning code
R7A
APN
01892-0074
UPID
US63-0081510
Jurisdiction
KINGS(BROOKLYN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R7A · Brooklyn, NY
Zoning R7A · permitted uses
R7A · 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) Current
Est. value
$8.1M
INDUSTRIAL (GENERAL)
Est. value
$6.7M
OFFICE BUILDING
Est. value
$6.5M
COMMERCIAL (GENERAL) Current
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
1948
Heating
NONE
Stories
6
Buildings
1
Units
11
Lot
0.07 ac
Current owner
From public records · entity-resolved
509 Myrtle Avenue LLC
Entity
Mailing address
208 WASHINGTON AVE, BROOKLYN, NY 11205-3701
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 29, 2019
—
509 Myrtle Avenue LLC
—
Deed
related
$4,350,000 · Readycap Com'l
Apr 27, 2007
$1,295,000
509 Myrtle Avenue LLC
509 Myrtle Realty LLC
Grant Deed
—
Apr 27, 2004
—
509 Myrtle Realty LLC
509 Myrtle Realty Corp
Quit Claim Deed
related
—
—
—
509 Myrtle Avenue LLC
—
Loan Modification
related
$4,350,000 · Readycap Com'l
—
—
509 Myrtle Avenue LLC
—
Deed Of Trust
related
$1,133,893 · Readycap Com'l
—
—
Gertrude Garcia
—
Deed Of Trust
related
$112,937 · Beneficial Homeowner Svc
—
—
Eib Grattan LLC
—
Loan Modification
related
$11,000,000 · Oritani Fin
—
—
Gertrude Garcia
—
Deed Of Trust
related
$12,500 · Jilkris Corp
—
—
509 Myrtle Avenue LLC
—
Deed Of Trust
related
$2,250,000 · Country Bank
—
—
509 Myrtle Ave LLC
—
Deed Of Trust
related
$2,800,000 · Country Bank
—
—
509 Myrtle Avenue LLC
—
Deed Of Trust
related
$550,453 · Country Bank
—
—
509 Myrtle Avenue LLC
—
Loan Modification, Consolidation And Extension
related
$3,570,000 · Bofi Fed'l 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.
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