Entity Owned Property summary
AI-generated overview
This exceptional five-story medical office building, located at 858 East 29th Street in Brooklyn, New York, offers 36,000 square feet of space. Situated on a substantial 70-acre lot in the vibrant Midwood neighborhood, this property boasts a highly desirable location, just steps from the Brooklyn College campus and at the crossroads of Flatbush and Nostrand Avenues. The building features six suites, with a minimum divisible space of 1,552 square feet and a maximum contiguous space of 11,877 square feet. Currently, 35,918 square feet are vacant, presenting a significant opportunity for medical professionals. The building includes 10 parking spaces and elevators for convenient access. Its R4 zoning designation allows for a variety of medical uses. The property's convenient location offers excellent transit options, with proximity to the #2 and #5 subway lines and numerous bus routes, ensuring easy access for patients and staff. The property's address is 858 E 29th St, Brooklyn, NY 11210, and its APN is 7574-70. Kings County is the location of this prime medical office opportunity.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
2010
Total area
31,875 SF
Lot
0.28 ac (12,000 SF)
Zoning code
R4
APN
07574-0070
UPID
US63-6174998
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Crisis Center Medical Clinic
-
Foster Care Service Social Service Agency
-
Foster Care Service Social Service Agency
-
Foster Care Service Social Service Agency
-
Foster Care Service Social Service Agency
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$13.05M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$11.93M
Owner & transaction history
since 2006
6 recorded transactions
Zoning & alternative use
R4 · Brooklyn, NY
Top alternative use upside
Industrial (general)
$18.1M
+3.1%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
3 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$11.93M
Value range
$10.73M – $13.12M
±10% around blend
Estimated value / SF
$374 / SF
Confidence
Property data
100
Market benchmarks
67
Comparable evidence
60
$10.73M
blend $11.93M
$13.12M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
31,875 SF
Lot area
0.28 ac
Year built
2010
Stories
5
APN
07574-0070
Zoning
R4
Assessed value
$4,278,150
Annual tax
$425,802
3
Income approach: direct capitalization
Partial preview
Income approach indication
$13.05M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$14.14M
@ 6.5% CAP return
$13.05M
@ 7% CAP return
$12.12M
4
Sales comparison
Partial preview
Too few qualifying comparables for a sales-approach estimation.
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$11.93M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 228 sales
$550
-32%
County 228 sales
$550
-32%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $374/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Industrial (general)
Gross theoretical uplift
+3%
vs current-use indication
Office Building · current use
Warehouse, Storage
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
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Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$4.28M
Move the market yield to see immediate price impact.
Value / SF
$134
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$270k
$5.39M
$3.85M
$2.99M
$299k
$5.99M
$4.28M
$3.33M
$329k
$6.59M
$4.71M
$3.66M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$425,802
Tax year 2024
Assessed value
$4,278,150
Assessed 2024
Previous assessed
$4,131,450
+3.6% YoY
Effective rate
9.95%
On assessed value
Assessed land
$477,000
Assessed improvement
$3,801,150
Land market value
$1,060,000
Improvement market value
$8,447,000
Total market value
$9,507,000
Applied tax rate
4.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
2010
Heating
NONE
Buildings
1
Stories
5
Units
1
Total area
31,875 SF
Lot
0.28 ac (12,000 SF)
Zoning code
R4
APN
07574-0070
UPID
US63-6174998
Jurisdiction
KINGS(BROOKLYN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R4 · Brooklyn, NYZoning R4 · permitted uses
R4 · Brooklyn, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
2010
Heating
NONE
Stories
5
Buildings
1
Units
1
Lot
0.28 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
R4
Jurisdiction
Brooklyn, NY
Recorded code
R4
Ownership Intelligence
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Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
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