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Property profile & analytics
OFF-MARKET
Estimated value
$3,660,000
Office buildings
1888 Westchester Ave, Bronx, NY 10472-3000
Entity Owned
7-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US63-3713916
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1993
Total area
12,400 SF
Lot
0.66 ac (28,576 SF)
Zoning code
R5
APN
03768-0033
UPID
US63-3713916
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
-
Ataul Chowdhury, MD (Primary Care Doctor) Physician
-
Dr. Azad Kalam (বাংলাদেশী ডাক্তার) Medical Clinic
-
Zwanger-Pesiri Radiology Medical Clinic
-
Isela Escobar, FNP Medical Clinic
-
DOT/CDL Exam Center in Bronx Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$5.10M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.66M
Owner & transaction history
Westchester 1888 Owner LLC · 7 yrs held
Westchester 1888 Owner LLC
since 2018
7 recorded transactions
Zoning & alternative use
R5 · Bronx, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$4.8M
+6.3%
Industrial (general)
$4.6M
+1.9%
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 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%
$5,520,000
6.5%
$5,095,000
7%
$4,730,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$4,525,000
Current use
WAREHOUSE, STORAGE
$4,805,000
Change: +6% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$4,605,000
Change: +2% · Conversion: Difficult
Blend value · Realmo final
$3.66M
Range $3.29M – $4.03M · ±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
$295 / 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
$514,059
Tax year 2024
Assessed value
$4,853,280
Assessed 2024
Previous assessed
$4,485,154
+8.2% YoY
Effective rate
10.59%
On assessed value
Assessed land
$450,000
Assessed improvement
$4,403,280
Land market value
$1,000,000
Improvement market value
$13,611,000
Total market value
$14,611,000
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
Off-Market
Year built
1993
Heating
NONE
Buildings
1
Stories
1
Units
1
Total area
12,400 SF
Lot
0.66 ac (28,576 SF)
Zoning code
R5
APN
03768-0033
UPID
US63-3713916
Jurisdiction
BRONX
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R5 · Bronx, NY
Zoning R5 · permitted uses
R5 · 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
OFFICE BUILDING Current
Est. value
$4.5M
WAREHOUSE, STORAGE
Est. value
$4.8M
INDUSTRIAL (GENERAL)
Est. value
$4.6M
OFFICE BUILDING Current
WAREHOUSE, STORAGE
INDUSTRIAL (GENERAL)
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
1993
Heating
NONE
Stories
1
Buildings
1
Units
1
Lot
0.66 ac
Current owner
From public records · entity-resolved
Westchester 1888 Owner LLC
Entity
Mailing address
280 MADISON AVE RM #709, NEW YORK, NY 10016-0825
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
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 16, 2018
$12,280,000
Westchester 1888 Owner LLC
188 West LLC
Deed
$3,391,622
Jul 16, 2018
—
Westchester 1888 Owner LLC
—
Loan Modification
related
$7,025,000 · Manufacturers & Traders Tr
Aug 14, 2006
—
188 West LLC
1888 Westchester Avenue Corp
Grant Deed
related
—
May 13, 2005
$7,225,000
1888 Westchester Ave Corporati
Duane Reade Realty INC
Grant Deed
$5,000,000 · North Fork Bank
Nov 22, 2004
—
Duane Reade Realty INC
Parchester Rb Associates LLC
Grant Deed
related
—
—
—
188 West LLC
—
Deed Of Trust
related
$23,483 · Bankunited Fsb
—
—
188 West LLC
—
Loan Modification, Consolidation And Extension
related
$3,850,000 · Bankunited Fsb
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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