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2417 3Rd Ave, Bronx, NY 10451
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Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1928
Total area
154,380 SF
Lot
0.46 ac (19,888 SF)
Zoning code
M13R8
APN
02319-0100
UPID
US63-1942815
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Corporate Office Business Park
-
Training Center Sports School
-
Roofing Company General Contractor
-
Charitable Organization Social Service Agency
-
Foster Care Service Social Service Agency
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$63.45M
Comparable Approach
Comparable
$48.52M
Blend (final)
Blend
$63.11M
Owner & transaction history
since 2020
Last sale
$64.7M
7 recorded transactions
Zoning & alternative use
M13R8 · Bronx, NY
Top alternative use upside
Retail stores
$91.7M
+62.8%
Warehouse, storage
$59.8M
+6.3%
Industrial (general)
$57.4M
+1.9%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
4 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$63.11M
Value range
$56.79M – $69.42M
±10% around blend
Estimated value / SF
$409 / SF
Confidence
Property data
100
Market benchmarks
67
Comparable evidence
60
$56.79M
blend $63.11M
$69.42M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
154,380 SF
Lot area
0.46 ac
Year built
1928
Stories
8
APN
02319-0100
Zoning
M13R8
Assessed value
$10,046,520
Annual tax
$1,064,127
3
Income approach: direct capitalization
Partial preview
Income approach indication
$63.45M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$68.73M
@ 6.5% CAP return
$63.45M
@ 7% CAP return
$58.91M
4
Sales comparison
Partial preview
Sales approach indication
$48.52M
Range $41.54M – $88.55M
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$63.11M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 58 sales
$365
+12%
County 58 sales
$365
+12%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $409/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Retail Stores
Gross theoretical uplift
+63%
vs current-use indication
Warehouse, Storage
Industrial (general)
Office Building · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Implied cap rate
5.60%
Implied, in-place cap rate for this office buildings
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 5.60%
9.0%
NOI (est.)
$4.53M *
Last sale · Jan 2020
$64.68M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$80.85M
Move the market yield to see immediate price impact.
Value / SF
$524
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.10%5.60%6.10%
$4.07M
$79.90M
$72.77M
$66.80M
$4.53M
$88.78M
$80.85M
$74.22M
$4.98M
$97.65M
$88.94M
$81.65M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$1,064,127
Tax year 2024
Assessed value
$10,046,520
Assessed 2024
Previous assessed
$9,625,326
+4.4% YoY
Effective rate
10.59%
On assessed value
Assessed land
$268,650
Assessed improvement
$9,777,870
Land market value
$597,000
Improvement market value
$24,674,000
Total market value
$25,271,000
Applied tax rate
4.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
For Lease
Year built
1928
Heating
NONE
Buildings
1
Stories
8
Units
45
Total area
154,380 SF
Lot
0.46 ac (19,888 SF)
Zoning code
M13R8
APN
02319-0100
UPID
US63-1942815
Jurisdiction
BRONX
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
M13R8 · Bronx, NYZoning M13R8 · permitted uses
M13R8 · Bronx, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1928
Heating
NONE
Stories
8
Buildings
1
Units
45
Lot
0.46 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
M13R8
Jurisdiction
Bronx, NY
Recorded code
M13R8
Ownership Intelligence
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Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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