Add Listing
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

    23 233rd St Bronx, NY 10470-2207

    • Investment properties
    • 2,635 SF
    • 0.06 lot acres
    OFF-MARKET
    Last Sale
    Mar 28, 2023
    Value Estimations
    $580,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-5407829
    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

    • Kelly's Pub / Nightclub / Bar & Pub

    Property Details for 23 233rd St

    Year built
    1925
    Lot size
    0.06 lot acres
    Property size
    2,635 SF
    Zone code
    R5
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    03363-0017
    APU
    33630017

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $880,000
      6.5%
      $810,000
      7%
      $755,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $365,000
      Market price range: $181k - $381k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $625,000
      Current use
      OFFICE BUILDING
      $960,000
      Change: +54% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Bronx
    County
    Bronx
    State
    New York
    Longitude
    -73.876
    Latitude
    40.8958
    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
    2024
    $10,248
    $74,250
    $55,170
    $129,420
    -
    $165,000
    $50,000
    $215,000

    Comparable in this City

    • Value Estimation by Request
      1,840 SF

      4433 White Plns Rd

      STORE/OFFICE (MIXED USE) • 1,840 SF
      4433 White Plns Rd, Bronx, NY 10470-1606
      View Details
    • Value Estimation
      $2,620,000
      12,590 SF

      4409 White Plns Rd

      STORE/OFFICE (MIXED USE) • 12,590 SF
      4409 White Plns Rd, Bronx, NY 10470
      View Details
    • Value Estimation
      $1,370,000
      9,270 SF

      550 239th St

      STORE/OFFICE (MIXED USE) • 9,270 SF
      550 239th St, Bronx, NY 10470-1448
      View Details
    • Value Estimation
      $1,050,000
      4,750 SF

      865 241st St

      STORE/OFFICE (MIXED USE) • 4,750 SF
      865 241st St, Bronx, NY 10470
      View Details
    • Value Estimation
      $2,955,000
      17,220 SF

      4412 White Plns Rd, Unit 4430

      STORE/OFFICE (MIXED USE) • 17,220 SF
      4412 White Plns Rd, Bronx, NY 10470-1607
      View Details
    • Value Estimation
      $740,000
      3,200 SF

      4533 White Plns Rd

      STORE/OFFICE (MIXED USE) • 3,200 SF
      4533 White Plns Rd, Bronx, NY 10470
      View Details

    Similar Nearby for Sale

    • $169,000

      Move-In Ready Bronx Apartment

      Immaculate one-bedroom apartment in Woodlawn Heights, Bronx.
      205 The, Bronx, NY 10470
      View Details
    • $179,000

      Bright Bronx Co-op Apartment

      Inviting 1-bedroom co-op in the Woodlawn neighborhood.
      4200 The, Bronx, NY 10470
      View Details
    • $875,000
      0.05 Acres

      Bronx Multifamily Investment Opportunity

      Value-add multifamily property in the Woodlawn section of the Bronx.
      93 E 233Rd St, Bronx, NY 10470
      View Details
    • $700,000
      0.05 Acres

      Bronx Land Development Opportunity

      Vacant land with development potential in high-traffic Bronx location.
      4740 White Plains Rd, Bronx, NY 10470
      View Details
    • $1,650,000
      0.08 Acres

      Bronx Development Site Near Transportation

      Development site in the Bronx with high buildable square footage.
      4615 Furman Ave, Bronx, NY 10470
      View Details
    • $225,000

      Webster Avenue Multifamily Opportunity

      Multifamily property available on Webster Avenue, The Bronx.
      4265 The, Bronx, NY 10470
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,100 SF

      Bronx Flex Space Available

      3,100 SF lower level space with drive-down ramp.
      4461 Bronx Blvd, Bronx, NY 10470
      View Details
    • Contact for pricing
      500 SF

      Retail Space Near Train Station

      Retail space available in a dense residential neighborhood.
      4711-4713 White Plains Rd, Bronx, NY 10470
      View Details
    • Contact for pricing
      2,800 SF

      Industrial Space with Drive-In Door

      2,800 SF industrial space featuring a drive-in door.
      4605-4645 Bullard Ave, Bronx, NY 10470
      View Details
    • $3,500 /Mo

      Bright 3-Bedroom Apartment in Bronx

      Well-maintained apartment near transportation, shopping, and dining.
      4557 White Plains Rd, Bronx, NY 10470
      View Details
    • Contact for pricing
      500 SF

      Prime Bronx Retail Space

      500 SF Retail Space - For Lease
      4711 White Plains Rd, The Bronx, NY 10470
      View Details
    • $20 SF/Yr
      7,670 SF

      Bronx Warehouse: 7,670 SF

      Spacious Bronx warehouse, ideal for various uses.
      343 233Rd St, The Bronx, NY 10470
      View Details
    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.
    23 233rd St
    Bronx, NY 10470-2207
    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.
    Sign Up Successful!
    You now have access to more from Realmo!