New search
Property profile & analytics
FOR LEASE
Office buildings
984 Atlantic Ave Brooklyn, NY 11238
Entity Owned
~
Est. High Equity
Property ID
US63-1866741
For Lease
1 / 2
Contact for pricing
984 Atlantic Ave, Brooklyn, NY 11238
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1980
Total area
68,100 SF
Lot
0.46 ac (20,172 SF)
Zoning code
M1-1
APN
01124-0037
UPID
US63-1866741
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
-
River Bend Construction Corporation Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$55.02M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$55.02M
Owner & transaction history
980 Atlantic Building LLC
980 Atlantic Building LLC
since 2025
Last sale
$55.0M
7 recorded transactions
Zoning & alternative use
M1-1 · Brooklyn, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$54.1M
+44.3%
Retail stores
$52.4M
+39.9%
Commercial (general)
$43.5M
+15.9%
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
$55,020,000
ML approach
$55,020,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$37,490,000
Current use
AUTO REPAIR, GARAGE
$54,105,000
Change: +44% · Conversion: Difficult
RETAIL STORES
$52,440,000
Change: +40% · Conversion: Moderate
COMMERCIAL (GENERAL)
$43,455,000
Change: +16% · Conversion: Easy
INDUSTRIAL (GENERAL)
$38,650,000
Change: +3% · Conversion: Difficult
WAREHOUSE, STORAGE
$34,130,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$55.02M
Range $49.52M – $60.52M · ±10% · vs last sale $55.02M (Jan 12 2024)
Last sale anchor
$55.02M
Jan 12 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
$808 / 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
$239,121
Tax year 2024
Assessed value
$3,063,150
Assessed 2024
Previous assessed
$2,353,950
+30.1% YoY
Effective rate
7.81%
On assessed value
Assessed land
$726,300
Assessed improvement
$2,336,850
Land market value
$1,614,000
Improvement market value
$5,193,000
Total market value
$6,807,000
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
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
For Lease
Year built
1980
Heating
NONE
Buildings
1
Stories
4
Units
4
Total area
68,100 SF
Lot
0.46 ac (20,172 SF)
Zoning code
M1-1
APN
01124-0037
UPID
US63-1866741
Jurisdiction
KINGS(BROOKLYN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
M1-1 · Brooklyn, NY
Zoning M1-1 · permitted uses
M1-1 · 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
OFFICE BUILDING Current
Est. value
$37.5M
AUTO REPAIR, GARAGE
Est. value
$54.1M
RETAIL STORES
Est. value
$52.4M
COMMERCIAL (GENERAL)
Est. value
$43.5M
INDUSTRIAL (GENERAL)
Est. value
$38.7M
WAREHOUSE, STORAGE
Est. value
$34.1M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
RETAIL STORES
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
WAREHOUSE, STORAGE
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
1980
Heating
NONE
Stories
4
Buildings
1
Units
4
Lot
0.46 ac
Current owner
From public records · entity-resolved
980 Atlantic Building LLC
Entity
Mailing address
417 5TH AVE FL, NEW YORK, NY 10016-2204
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 23, 2025
$21,099,595
980 Atlantic Building LLC
Bldg 980 Atlantic LLC
Deed
—
Jan 12, 2024
$55,020,001
Bldg Holdings II LLC
Bldg Associates, INC.
Deed
—
Jan 5, 2024
—
Bldg 980 Atlantic LLC
Bldg Oceanside LLC
Deed
—
Sep 28, 2016
—
980 Atlantic Holdings LLC
—
Deed
related
$2,700,000 · Prospect Place Cap LLC
Feb 13, 2006
—
Bldg Oceanside LLC
Ig Second Generation Partners
Grant Deed
related
—
Feb 10, 2006
—
Ig Second Generation Partners
I Bldg Co INC
Grant Deed
related
—
—
—
980 Atlantic Holdings LLC
—
Deed Of Trust
related
$2,700,000 · Prospect Place Cap LLC
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?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
