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Property profile & analytics
OFF-MARKET
Estimated value
$2,075,000
Super regional malls
550 Gtwy Dr, Brooklyn, NY 11239-2864
Individually Owned
11-yr Hold
~
Est. High Equity
Property ID
US63-5187904
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Year built
2013
Total area
87,072 SF
Lot
1.53 ac (66,734 SF)
Zoning code
C4-2
APN
04452-0590
UPID
US63-5187904
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
-
DSW Designer Shoe Warehouse Clothing & Fashion Store (Bike/Boat/Book/etc) Store
-
Tesstosterone InnerMeno Medical group Medical Clinic
-
Nordstrom Rack Clothing & Fashion Store
-
Nordstrom Store Department Store
-
Starrett City Lock & Safe Co. Locksmith
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.08M
Owner & transaction history
Gateway Center Props Phase II · 11 yrs held
Gateway Center Props Phase II
since 2014
7 recorded transactions
Zoning & alternative use
C4-2 · 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
NEIGHBORHOOD: SHOPPING CENTER
$2,715,000
Current use
Blend value · Realmo final
$2.08M
Range $1.87M – $2.28M · ±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
$24 / 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
$1,240,309
Tax year 2024
Assessed value
$12,314,250
Assessed 2024
Previous assessed
$12,151,800
+1.3% YoY
Effective rate
10.07%
On assessed value
Assessed land
$1,531,800
Assessed improvement
$10,782,450
Land market value
$3,404,000
Improvement market value
$23,961,000
Total market value
$27,365,000
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
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
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Status
Off-Market
Year built
2013
Heating
NONE
Buildings
1
Units
1
Total area
87,072 SF
Lot
1.53 ac (66,734 SF)
Zoning code
C4-2
APN
04452-0590
UPID
US63-5187904
Jurisdiction
KINGS(BROOKLYN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
C4-2 · Brooklyn, NY
Zoning C4-2 · permitted uses
C4-2 · 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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$2.7M
NEIGHBORHOOD: SHOPPING CENTER Current
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
2013
Heating
NONE
Buildings
1
Units
1
Lot
1.53 ac
Current owner
From public records · entity-resolved
Gateway Center Props Phase II
Individual
Mailing address
550 GTWY DR, BROOKLYN, NY 11239-2864
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 5, 2014
—
Gateway Center Props Phase II
Gateway Center Props Phase II
Quit Claim Deed
related
$75,000,000 · German American Cap
—
—
Gateway Ctr Props Phase II LLC
—
Loan Modification, Consolidation And Extension
related
—
—
—
Pier I
—
Loan Modification
related
—
—
—
Jc Penny Properties INC
—
Loan Modification
related
—
—
—
Tsa Stores INC
—
Loan Modification
related
—
—
—
Gateway Ctr Props Phase II Own
—
Loan Modification
related
—
—
—
Five Below INC
—
Loan Modification
related
—
—
—
Dsw Shoe Warehouse INC
—
Loan Modification
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.
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?”
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