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Property profile & analytics
OFF-MARKET
Estimated value
$56,355,000
Warehouses
2351-2353 12th Ave, New York, NY 10027
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US63-2997438
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1928
Total area
80,742 SF
Lot
0.15 ac (6,490 SF)
Zoning code
C6-2
APN
02001-0001
UPID
US63-2997438
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$58.94M
Blend (final)
Blend
$56.36M
Owner & transaction history
Sm I Mms, L.l.c. · 4 yrs held
Sm I Mms, L.l.c.
since 2021
Last sale
$55.4M
4 recorded transactions
Zoning & alternative use
C6-2 · 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
$55,685,000
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
$65,980,000
Current use
Blend value · Realmo final
$56.36M
Range $50.72M – $61.99M · ±10% · vs last sale $55.40M (Dec 29 2021)
Last sale anchor
$55.40M
Dec 29 2021
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
$698 / 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
$547,043
Tax year 2024
Assessed value
$5,164,680
Assessed 2024
Previous assessed
$4,965,330
+4.0% YoY
Effective rate
10.59%
On assessed value
Assessed land
$292,050
Assessed improvement
$4,872,630
Land market value
$649,000
Improvement market value
$11,754,000
Total market value
$12,403,000
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
1928
Heating
NONE
Buildings
1
Stories
14
Units
1
Total area
80,742 SF
Lot
0.15 ac (6,490 SF)
Zoning code
C6-2
APN
02001-0001
UPID
US63-2997438
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
C6-2 · New York, NY
Zoning C6-2 · permitted uses
C6-2 · New York, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
New York. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$66.0M
WAREHOUSE, STORAGE 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
1928
Heating
NONE
Stories
14
Buildings
1
Units
1
Lot
0.15 ac
Current owner
From public records · entity-resolved
Sm I Mms, L.l.c.
Entity
Mailing address
215 N STADIUM BLVD STE #207, COLUMBIA, MO 65203-1160
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 29, 2021
$55,400,000
Sm I Mms, L.l.c.
2351 12th Avenue Properties, LLC
Deed
$200,034,541 · Barclays Capital Real Estate INC.
Nov 15, 2017
—
2351 12th Avenue Props LLC
—
Loan Modification, Consolidation And Extension
related
$110,000,000 · Miscellaneous Ins Co
Dec 4, 2007
—
2351 12th Avenue Props LLC
—
Deed Of Trust
related
$12,700,000 · Prudential Insurance Co
—
—
2351 12th Avenue Props LLC
—
Deed Of Trust
related
$6,286,509 · Miscellaneous Ins Co
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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