Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    229 7th Ave Mount Vernon, NY 10550-3859

    • Assisted living facilities
    • 0.94 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2058566
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Grace House / Senior Citizen Center

    Property Details for 229 7th Ave

    Lot size
    0.94 lot acres
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    550800 169.22-3070-31
    APU
    55080016922307031

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Mount Vernon
    County
    Westchester
    State
    New York
    Longitude
    -73.8373
    Latitude
    40.9053
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $0.00
    $23,800
    $176,200
    $200,000
    -
    $1,391,813
    $10,304,094
    $11,695,907

    Comparable in this City

    • Value Estimation by Request
      2.67 Acres

      118 7th Ave

      HOMES (RETIRED, NURSING) • 2.67 Acres
      118 7th Ave, Mount Vernon, NY 10550
      View Details
    • Value Estimation by Request
      0.28 Acres

      159 5th Ave

      HOMES (RETIRED, NURSING) • 0.28 Acres
      159 5th Ave, Mount Vernon, NY 10550
      View Details
    • Value Estimation by Request
      0.48 Acres

      15 5th Ave

      HOMES (RETIRED, NURSING) • 0.48 Acres
      15 5th Ave, Mount Vernon, NY 10550-3108
      View Details
    • Value Estimation by Request
      1.33 Acres

      150 5th Ave

      HOMES (RETIRED, NURSING) • 1.33 Acres
      150 5th Ave, Mount Vernon, NY 10550-3122
      View Details
    • Value Estimation by Request
      0.25 Acres

      60 1st St

      HOMES (RETIRED, NURSING) • 0.25 Acres
      60 1st St, Mount Vernon, NY 10550-3070
      View Details
    • Value Estimation by Request
      0.36 Acres

      125 5th Ave

      HOMES (RETIRED, NURSING) • 0.36 Acres
      125 5th Ave, Mount Vernon, NY 10550-3119
      View Details

    Similar Nearby for Sale

    • $799,000
      2,800 SF

      Renovated Triplex Near Metro North

      Updated triplex near transportation and shopping in Mount Vernon, NY.
      114 Park Ave, Mount Vernon, NY 10550
      View Details
    • $1,749,000
      6,255 SF

      Charming Colonial Quadruplex in Mount Vernon

      Tastefully renovated four-unit property with ten bedrooms and eight bathrooms.
      165 Summit Ave, Mount Vernon, NY 10550
      View Details
    • $995,000
      0.10 Acres

      Mount Vernon Triplex Opportunity

      Three-unit property near NYC with on-site laundry and parking.
      258 S 10Th Ave, Mount Vernon, NY 10550
      View Details
    • $649,000
      3,000 SF

      Industrial Space with Modern Offices

      3,000 SF industrial space ideal for contractors or auto repair.
      146 E 3Rd St, Mt Vernon, NY 10550
      View Details
    • $340,000

      Land For Sale

      Land available for sale in Mount Vernon, NY.
      31 Mount Vernon Ave, Mount Vernon, NY 10550
      View Details
    • $1,799,000

      Mount Vernon Multifamily Investment Opportunity

      Seven-unit apartment building in Mount Vernon with strong income potential.
      130 W 4Th St, Mount Vernon, NY 10550
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      20,000 SF

      Fenced, Paved Industrial Land

      Fenced and paved industrial land with a 3-bay garage.
      770 S Columbus Ave, Mt Vernon, NY 10550
      View Details
    • $23 SF/Yr
      7,200 SF

      Renovated Office with Parking Lot

      Renovated 7,200 sq ft office with 3,000 sq ft lot.
      546-550 Franklin Ave, Mount Vernon, NY 10550
      View Details
    • $3,000 /Mo

      Mount Vernon Specialty Property

      Specialty property available for rent in Mount Vernon, NY.
      16 Mount Vernon Ave, Mount Vernon, NY 10550
      View Details
    • Contact for pricing
      14,900 SF

      Prime Mt Vernon Retail Space

      14,900 SF Retail, 2 Suites Available
      47 Prospect Ave, Mount Vernon, NY 10550
      View Details
    • $3,800 /Mo
      800 SF

      Prime Retail Space in Mount Vernon

      High-visibility retail space with abundant natural light and flexible layout.
      756 S 5Th Ave, Mount Vernon, NY 10550
      View Details
    • $2,800 /Mo

      Mount Vernon Office Space Available

      Well-maintained office space with utilities and parking included.
      31 Warren Pl, Mount Vernon, NY 10550
      View Details

    Property Visit Statistics

    • Visits by month
      10.1k
    • Visitors by month
      6.0k
    • Avg Time on site
      15 min
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    229 7th Ave
    Mount Vernon, NY 10550-3859
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.