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Property profile & analytics
OFF-MARKET
Estimated value
$2,820,000
Investment properties
554 Vanderbilt Ave, Brooklyn, NY 11238-3574
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US63-4463136
Property summary
AI-generated overview
This exceptional six-story mixed-use building, located at 554 Vanderbilt Avenue in Brooklyn's vibrant Prospect Heights neighborhood (zip code 11238), presents a compelling investment opportunity. The 6,400 square foot property sits on a 1,600 square foot lot and features five units: four free-market residential units and one large commercial space currently leased to a well-established restaurant group. Each residential unit boasts private outdoor space, including terraces, balconies, and a roof deck. A legal three-story addition, completed in 2008 via an Alt-1 process, resulted in a new certificate of occupancy in December 2009, providing Good Cause Eviction exemption until December 2039. The building benefits from tax-class protection, resulting in low expenses
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1930
Total area
6,306 SF
Lot
0.04 ac (1,600 SF)
Zoning code
R7A
APN
01137-0048
UPID
US63-4463136
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
$3.52M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.82M
Owner & transaction history
554 Vanderbilt Avenue LLC · 10 yrs held
554 Vanderbilt Avenue LLC
since 2016
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%
$3,815,000
6.5%
$3,520,000
7%
$3,270,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$4,025,000
Current use
INDUSTRIAL (GENERAL)
$3,580,000
Change: -11% · Conversion: Moderate
OFFICE BUILDING
$3,470,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$2.82M
Range $2.54M – $3.10M · ±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
$447 / 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
$17,997
Tax year 2024
Assessed value
$1,297,080
Assessed 2024
Previous assessed
$1,080,900
+20.0% YoY
Effective rate
1.39%
On assessed value
Assessed land
$9,000
Assessed improvement
$1,288,080
Land market value
$20,000
Improvement market value
$2,862,400
Total market value
$2,882,400
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1930
Heating
NONE
Buildings
1
Stories
3
Units
6
Total area
6,306 SF
Lot
0.04 ac (1,600 SF)
Zoning code
R7A
APN
01137-0048
UPID
US63-4463136
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
$4.0M
INDUSTRIAL (GENERAL)
Est. value
$3.6M
OFFICE BUILDING
Est. value
$3.5M
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
1930
Heating
NONE
Stories
3
Buildings
1
Units
6
Lot
0.04 ac
Current owner
From public records · entity-resolved
554 Vanderbilt Avenue LLC
Entity
Mailing address
PO BOX 380347, BROOKLYN, NY 11238-0347
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2016
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
Sep 29, 2021
—
554 Vanderbilt Avenue LLC
—
Deed
related
$114,208 · Teachers Federal Credit Union
Apr 27, 2016
—
554 Vanderbilt Avenue LLC
Nikolas Stamenis
Deed
$661,297 · The Dime Savings Bank Williamsburgh
Mar 2, 2010
—
Nikolas Stamenis
—
Deed Of Trust
related
$1,130,000 · John Mitsinikos
May 22, 2008
—
Nikolas Stamenis
—
Trustees Deed
related
$50,000 · John Mitsinikos
Dec 17, 2007
—
Nikolas Stamenis
—
Deed Of Trust
related
$1,080,000 · Mitsinikos Associates
Apr 5, 2006
$765,000
Nikolas Stamenis
Ajitsingh,bhagman
Grant Deed
—
—
—
Stamenis,nikolas
—
Deed Of Trust
related
$1,762,000 · Dime Svgs Bk/williamsburgh
—
—
554 Vanderbilt Avenue LLC
—
Loan Modification, Consolidation And Extension
related
$2,350,000 · Dime Svgs Bk/williamsburgh
—
—
Nikolas Stamenis
—
Deed Of Trust
related
$320,000 · John Mitsinikos
—
—
Nikolas Stamenis
—
Deed Of Trust
related
$220,000 · John Mitsinikos
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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