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Property profile & analytics
OFF-MARKET
Estimated value
$7,295,000
Retail residential properties
2488 Adam Clayton Powell Jr Blvd New York, NY 10030-1338
Individually Owned
6-yr Hold
~
Est. High Equity
Property ID
US63-2832013
Property profile
Verified
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Year built
1921
Total area
17,108 SF
Lot
0.09 ac (3,983 SF)
Zoning code
R7-2
APN
02030-0033
UPID
US63-2832013
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
Current use
Occupant on record · Public records
-
M K African Food & Cosmetic Big Box & Wholesale Store Food Market
-
2488 7th Avenue Tenants Association Association Or Organization
-
Amy African Hair Braiding Hair Salon
-
Harlem cisse store Big Box & Wholesale Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$8.39M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$7.30M
Owner & transaction history
Cloth Amsterdam Tpt Housing Develop · 6 yrs held
Cloth Amsterdam Tpt Housing Develop
since 2019
1 recorded transaction
Zoning & alternative use
R7-2 · 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$9,090,000
6.5%
$8,390,000
7%
$7,790,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$12,040,000
Current use
OFFICE BUILDING
$10,930,000
Change: -9% · Conversion: Easy
Blend value · Realmo final
$7.30M
Range $6.57M – $8.02M · ±10%
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
$426 / 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
$16,753
Tax year 2024
Assessed value
$1,638,174
Assessed 2024
Previous assessed
$1,225,123
+33.7% YoY
Effective rate
1.02%
On assessed value
Assessed land
$89,550
Assessed improvement
$1,548,624
Land market value
$199,000
Improvement market value
$3,449,000
Total market value
$3,648,000
Applied tax rate
2.0000
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
Retail residential properties
Use group
STORES & APARTMENTS
Status
Off-Market
Year built
1921
Heating
NONE
Buildings
1
Stories
6
Units
18
Total area
17,108 SF
Lot
0.09 ac (3,983 SF)
Zoning code
R7-2
APN
02030-0033
UPID
US63-2832013
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R7-2 · New York, NYZoning R7-2 · permitted uses
R7-2 · New York, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$12.0M
OFFICE BUILDING
Est. value
$10.9M
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
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
1921
Heating
NONE
Stories
6
Buildings
1
Units
18
Lot
0.09 ac
Current owner
From public records · entity-resolved
Cloth Amsterdam Tpt Housing Develop
Individual
Mailing address
500 W 159TH ST, NEW YORK, NY 10032-6912
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 24, 2019
$4
Cloth Amsterdam Tpt Housing Develop
The City Of New York
Deed
$8,399,078 · Sterling National Bank
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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