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Property profile & analytics
OFF-MARKET
Estimated value
$14,500,000
Warehouses
651 Utica Ave Brooklyn, NY 11203
Entity Owned
~
Est. High Equity
Property ID
US63-5887030
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2018
Total area
35,589 SF
Lot
0.23 ac (10,000 SF)
Zoning code
C8-2
APN
04620-0047
UPID
US63-5887030
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
-
Life Storage Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$14.50M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$14.50M
Owner & transaction history
651 Utica Property Owner, L.l.c.
651 Utica Property Owner, L.l.c.
since 2026
Last sale
$14.5M
7 recorded transactions
Zoning & alternative use
C8-2 · Brooklyn, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$20.2M
+13.3%
Office building
$19.6M
+9.8%
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
$14,500,000
ML approach
$14,500,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$17,835,000
Current use
INDUSTRIAL (GENERAL)
$20,200,000
Change: +13% · Conversion: Easy
OFFICE BUILDING
$19,590,000
Change: +10% · Conversion: Difficult
Blend value · Realmo final
$14.50M
Range $13.05M – $15.95M · ±10% · vs last sale $14.50M (Apr 22 2024)
Last sale anchor
$14.50M
Apr 22 2024
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
$407 / 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
$238,206
Tax year 2024
Assessed value
$2,448,450
Assessed 2024
Previous assessed
$2,365,200
+3.5% YoY
Effective rate
9.73%
On assessed value
Assessed land
$252,000
Assessed improvement
$2,196,450
Land market value
$560,000
Improvement market value
$4,881,000
Total market value
$5,441,000
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2018
Heating
NONE
Buildings
1
Stories
4
Units
1
Total area
35,589 SF
Lot
0.23 ac (10,000 SF)
Zoning code
C8-2
APN
04620-0047
UPID
US63-5887030
Jurisdiction
KINGS(BROOKLYN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
C8-2 · Brooklyn, NYZoning C8-2 · permitted uses
C8-2 · Brooklyn, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$17.8M
INDUSTRIAL (GENERAL)
Est. value
$20.2M
OFFICE BUILDING
Est. value
$19.6M
WAREHOUSE, STORAGE 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
2018
Heating
NONE
Stories
4
Buildings
1
Units
1
Lot
0.23 ac
Current owner
From public records · entity-resolved
651 Utica Property Owner, L.l.c.
Entity
Mailing address
1001 PENNSYLVANIA AVE NW #200, WASHINGTON, DC 20004-2505
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 26, 2026
$24,692,433
651 Utica Property Owner, L.l.c.
Ss Nyc Utica, L.l.c.
Deed
$215,716,472 · New York Self Storage Portfolio Kcd, LLC
Apr 22, 2024
$14,500,000
Ss Nyc Utica, L.l.c.
Snl Orix Utica Avenue, LLC
Deed
$9,930,399 · The Prudential Insurance Company Of Amer
May 10, 2018
—
Snl Orix Utica Avenue LLC
—
Grant Deed
related
$5,776,641 · Santander Bk NA
Nov 16, 2017
—
Snl Orix Utica Avenue LLC
—
Grant Deed
related
$10,000,000 · Orix Re Holdings LLC
Jul 21, 2017
—
Snl Orix Utica Avenue LLC
—
Deed Of Trust
related
$10,000,000 · Orix Re Holdings LLC
Jan 31, 2017
$2,615,000
Snl 651-655 Utica Ave LLC
Princess Realty Group LLC
Grant Deed
—
Oct 29, 2009
—
Princess Realty Grp LLC
—
Deed Of Trust
related
$1,700,000 · Flushing Savings Bank
May 3, 2007
$1,500,000
Princess Realty Group LLC
Gargano,michele
Grant Deed
related
$1,050,000 · Community National Bank
Apr 2, 2001
$75,000
Michele Gargano
Gargano,rinaldo
Grant Deed
related
—
—
—
Snl Orix Utica Avenue LLC
—
Deed Of Trust
related
$1,428,357 · Santander Bk NA
—
—
Princess Realty Grp LLC
—
Deed Of Trust
related
$651,000 · Flushing 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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