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Property profile & analytics
OFF-MARKET
Estimated value
$845,000
Warehouses
1207 Hoe Ave, Bronx, NY 10459-1905
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US63-5994717
Property summary
AI-generated overview
This vacant, 2,175 sq ft mixed-use building at 1207 Hoe Avenue in the Bronx, NY, is a prime investment opportunity. Built in 1931, this one-story, Class B property features 25 feet of frontage, 12-14 foot high ceilings, and a 10-foot high roll-up door with a curb cut and drive-in loading. The property is zoned R7-1 and offers significant potential for various commercial uses, including auto repair or warehousing. With 400 amps of power and a 2,218 sq ft lot, it also boasts substantial air rights (7,630 sq ft). Conveniently located near the 2 & 5 subway lines, this property presents a unique chance to acquire a versatile commercial space in a rapidly developing area. Asking price is $1,395,000.
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1931
Total area
2,175 SF
Lot
0.05 ac (2,218 SF)
Zoning code
R7-1
APN
02979-0037
UPID
US63-5994717
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
-
Bonao JR Shipping Express Corp Shipping Company Freight Service
-
Precast Stone Corp Building Supply Factory
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$845k
Owner & transaction history
Tj Alan LLC · 6 yrs held
Tj Alan LLC
since 2019
3 recorded transactions
Zoning & alternative use
R7-1 · Bronx, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.3M
+53.2%
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 Bronx submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bronx 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
WAREHOUSE, STORAGE
$845,000
Current use
RETAIL STORES
$1,290,000
Change: +53% · Conversion: Moderate
OFFICE BUILDING
$795,000
Change: -6% · Conversion: Difficult
Blend value · Realmo final
$845k
Range $761k – $930k · ±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
$389 / 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
$11,010
Tax year 2024
Assessed value
$123,120
Assessed 2024
Previous assessed
$92,700
+32.8% YoY
Effective rate
8.94%
On assessed value
Assessed land
$48,870
Assessed improvement
$74,250
Land market value
$89,000
Improvement market value
$142,000
Total market value
$231,000
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
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1931
Heating
NONE
Buildings
1
Stories
1
Units
1
Total area
2,175 SF
Lot
0.05 ac (2,218 SF)
Zoning code
R7-1
APN
02979-0037
UPID
US63-5994717
Jurisdiction
BRONX
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R7-1 · Bronx, NY
Zoning R7-1 · permitted uses
R7-1 · Bronx, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Bronx. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$845,000
RETAIL STORES
Est. value
$1.3M
OFFICE BUILDING
Est. value
$795,000
WAREHOUSE, STORAGE Current
RETAIL STORES
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
1931
Heating
NONE
Stories
1
Buildings
1
Units
1
Lot
0.05 ac
Current owner
From public records · entity-resolved
Tj Alan LLC
Entity
Mailing address
1412 JEROME AVE, BRONX, NY 10452-3306
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 7, 2019
$200,000
Tj Alan LLC
1207 Realty Corp
Grant Deed
$150,000 · 1207 Realty Corp
Jun 29, 2007
$175,000
1207 Realty Corp
1207 Hoe Avenue LLC
Grant Deed
—
Jul 6, 2005
—
1207 Hoe Avenue LLC
Jericho Roofing Corporation
Grant Deed
related
—
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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