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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2391 Frederick Douglass Blvd New York, NY 10027-1824

    • Investment properties
    • 5,249 SF
    • 0.05 lot acres
    OFF-MARKET
    Value Estimations
    $990,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-1953616
    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

    • Wasem / Grocery & Convenience Store / Food Market

    Property Details for 2391 Frederick Douglass Blvd

    Year built
    1910
    Lot size
    0.05 lot acres
    Property size
    5,249 SF
    Zone code
    R8A
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    01955-0010
    APU
    19550010

    Description

    This exceptional investment opportunity presents a portfolio of three mixed-use buildings in the vibrant Harlem neighborhood of New York City. The offering includes two adjacent properties located at 2391 and 2393 Frederick Douglass Boulevard, and a separate two-story commercial building situated at 303 West 128th Street. The Frederick Douglass Boulevard properties are four-story structures. 2391 Frederick Douglass Boulevard boasts a 25-foot wide frontage and comprises four units, while the adjacent 2393 Frederick Douglass Boulevard features a 25-foot wide frontage and three units. All units within these buildings are mixed-use, offering a blend of residential and commercial potential. The third building, located at 303 West 128th Street, is a two-story commercial structure, providing additional income-generating possibilities. This portfolio presents a unique chance to acquire a substantial presence in a rapidly developing area of Manhattan, with significant potential for future appreciation and strong rental income. The combined asking price for this exceptional investment opportunity is $10,000,000. This is a rare opportunity to acquire a well-positioned portfolio in a high-demand location. The properties are situated in a thriving area with excellent access to public transportation and a diverse range of amenities. Detailed financial information and property specifics are available upon request.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,086,000
      Market price range: $961k - $2.63M

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

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.95
    Latitude
    40.8123
    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
    $18,956
    $21,877
    $129,746
    $151,623
    -
    $101,000
    $599,000
    $700,000

    Comparable in this City

    • Value Estimation
      $1,535,000
      5,600 SF

      341 Malcolm X Blvd

      OFFICE/RESIDENTIAL (MIXED USE) • 5,600 SF
      341 Malcolm X Blvd, New York, NY 10027-3871
      View Details
    • Value Estimation
      $1,235,000
      4,526 SF

      49 127th St

      OFFICE/RESIDENTIAL (MIXED USE) • 4,526 SF
      49 127th St, New York, NY 10027-3956
      View Details
    • Value Estimation
      $920,000
      4,696 SF

      12 122nd St

      OFFICE/RESIDENTIAL (MIXED USE) • 4,696 SF
      12 122nd St, New York, NY 10027-5624
      View Details
    • Value Estimation
      $1,355,000
      7,590 SF

      2003-2005 Adam C Powell Blvd

      OFFICE/RESIDENTIAL (MIXED USE) • 7,590 SF
      2003-2005 Adam C Powell Blvd, New York, NY 10027
      View Details
    • Value Estimation
      $1,245,000
      5,434 SF

      342 123rd St

      OFFICE/RESIDENTIAL (MIXED USE) • 5,434 SF
      342 123rd St, New York, NY 10027
      View Details
    • Value Estimation
      $710,000
      3,809 SF

      46 125th St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,809 SF
      46 125th St, New York, NY 10027-4502
      View Details

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      132 130Th St, New York, NY 10027
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    Similar Nearby for Lease

    • Contact for pricing
      6,431 SF

      Harlem Retail Space: 6,431 SF

      Prime Harlem retail space, 6,431 sq ft, available now.
      2280 Frederick Douglass Blvd, New York, NY 10027
      View Details
    • Contact for pricing
      19,120 SF

      West 125th Street Retail Spaces

      Prime Harlem Retail, Two Suites Available
      300 125Th St, New York, NY 10027
      View Details
    • Contact for pricing
      160,000 SF

      Harlem Retail Space Available

      Prime Harlem retail, multiple suites
      121 125Th St, New York, NY 10027
      View Details
    • $90 SF/Yr
      1,850 SF

      West Harlem Medical Office Space

      Prime corner location, 1850 sq ft, single tenant.
      2229 Frederick Douglass Blvd, New York, NY 10027
      View Details
    • Contact for pricing
      5,952 SF

      West 125th Street Retail Spaces

      Prime Harlem retail opportunity. Three spaces available.
      712-726 125Th St, New York, NY 10027
      View Details
    • $10 SF/Yr
      4,527 SF

      Lenox Ave Office Suites

      NYC Office Space: Flexible Options
      310 Lenox Ave, New York, NY 10027
      View Details
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    2391 Frederick Douglass Blvd
    New York, NY 10027-1824
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    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
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