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Property profile & analytics
OFF-MARKET
Estimated value
$2,435,000
Retail space
1078 Madison Ave 1 New York, NY 10028-0237
Entity Owned
21-yr Hold
~
Est. High Equity
Property ID
US63-1573882
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1981
Total area
2,700 SF
Lot
0.11 ac (4,845 SF)
Zoning code
C5-1
APN
01493-1001
UPID
US63-1573882
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
-
Iris Nails Nail Salon
-
The Zeitgeist Gallery of Decorative Art Art Gallery
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.19M
Blend (final)
Blend
$2.44M
Owner & transaction history
Apollon Property INC · 21 yrs held
Apollon Property INC
since 2004
7 recorded transactions
Zoning & alternative use
C5-1 · New York, 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 New York submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs New York 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
RETAIL STORES
$3,550,000
Current use
Blend value · Realmo final
$2.44M
Range $2.19M – $2.68M · ±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
$902 / 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
$99,189
Tax year 2024
Assessed value
$987,570
Assessed 2024
Previous assessed
$965,250
+2.3% YoY
Effective rate
10.04%
On assessed value
Assessed land
$463,501
Assessed improvement
$524,069
Land market value
$1,030,003
Improvement market value
$1,051,000
Total market value
$2,081,003
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1981
Heating
NONE
Buildings
1
Stories
15
Units
1
Total area
2,700 SF
Lot
0.11 ac (4,845 SF)
Zoning code
C5-1
APN
01493-1001
UPID
US63-1573882
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
C5-1 · New York, NYZoning C5-1 · permitted uses
C5-1 · New York, 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
RETAIL STORES Current
Est. value
$3.6M
RETAIL STORES 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
1981
Heating
NONE
Stories
15
Buildings
1
Units
1
Lot
0.11 ac
Current owner
From public records · entity-resolved
Apollon Property INC
Entity
Mailing address
1078 MADISON AVECOMM1, NEW YORK, NY 10028-0237
Ownership since
2004
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
Aug 8, 2023
—
Apollon Property INC.
—
Deed
related
$122,943 · Bank Of Hope
Feb 13, 2018
—
Apollon Property INC
—
Loan Modification, Consolidation And Extension
related
$2,600,000 · Bank Of Hope
Nov 30, 2004
$3,200,000
Apollon Property INC
Wang Properties Limited
Grant Deed
$2,400,000 · Elk Associates Funding Corp
—
—
Apollon Property INC
—
Loan Modification
related
$2,423,320 · Bbcn Bk
—
—
Apollon Property INC
—
Deed Of Trust
related
$1,276,414 · Nara Bank
—
—
Apollon Property INC
—
Deed Of Trust
related
$3,200,000 · Nara Bank
—
—
Apollon Property INC
—
Deed Of Trust
related
$1,072,465 · Bank Of Hope
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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