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    Property profile & analytics

    2582 3Rd Ave The Bronx, NY 10454

    • Investment properties
    • 6,386 SF
    • 0.11 lot acres
    For Sale
    View listing
    $3,300,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-1020390
    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

    • Investment properties

    Property Details for 2582 3Rd Ave

    Year built
    1910
    Lot size
    0.11 lot acres
    Property size
    6,386 SF
    Zone code
    R6
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    02314-0049
    APU
    23140049

    Description

    This exceptional mixed-use property, located at 2582 Third Avenue in the vibrant Mott Haven neighborhood of the Bronx, presents a compelling investment opportunity. The 6,386 square foot building boasts a 7.09% cap rate and a strong net operating income (NOI) of $234,129. Currently, the property features two free-market apartments and a store, achieving 100% occupancy. A significant opportunity exists with a vacant 4,200 square foot retail space and a 2,500 square foot basement, both divisible to suit various tenants. The building sits on a 4,656 square foot lot and is ideally situated on a busy avenue, just two blocks from the 6 train subway station, ensuring high visibility and accessibility. The asking price is $3,300,000, translating to $516.76 per square foot. With a projected gross income of $289,000, this property offers substantial potential for increased revenue through the lease-up of the vacant retail space and basement. This is a rare chance to acquire a well-positioned mixed-use asset in a rapidly developing area of the Bronx. The property's strong financials and prime location make it an attractive investment for both seasoned and emerging investors.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $445,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $662,000
      Market price range: $288k - $676k

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

    Location Insight

    • Map
    • Local Demand
    City
    Bronx
    County
    Bronx
    State
    New York
    Longitude
    -73.9258
    Latitude
    40.8115
    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
    $35,414
    $45,000
    $322,200
    $367,200
    -
    $100,000
    $643,000
    $743,000

    Comparable in this City

    • Value Estimation
      $280,000
      2,116 SF

      264 Cypress Ave

      STORE/OFFICE (MIXED USE) • 2,116 SF
      264 Cypress Ave, Bronx, NY 10454-1502
      View Details
    • Value Estimation
      $495,000
      10,000 SF

      125-127 Saint Anns Ave

      STORE/OFFICE (MIXED USE) • 10,000 SF
      125-127 Saint Anns Ave, Bronx, NY 10454
      View Details
    • Value Estimation
      $380,000
      1,390 SF

      318 Cypress Ave

      STORE/OFFICE (MIXED USE) • 1,390 SF
      318 Cypress Ave, Bronx, NY 10454-1507
      View Details
    • Value Estimation
      $370,000
      3,350 SF

      493 138th St

      STORE/OFFICE (MIXED USE) • 3,350 SF
      493 138th St, Bronx, NY 10454-4046
      View Details
    • Value Estimation
      $365,000
      4,000 SF

      538 138th St

      STORE/OFFICE (MIXED USE) • 4,000 SF
      538 138th St, Bronx, NY 10454-3006
      View Details
    • Value Estimation
      $520,000
      9,799 SF

      800 138th St, Unit 809

      STORE/OFFICE (MIXED USE) • 9,799 SF
      800 138th St, Bronx, NY 10454-1902
      View Details

    Similar Nearby for Sale

    • $3,300,000
      6,386 SF

      Mott Haven Mixed-Use Investment

      Prime Bronx location, high NOI, strong cap rate.
      2582 3Rd Ave, The Bronx, NY 10454
      View Details
    • $2,799,000
      8,328 SF

      Bronx Mixed-Use Corner Building

      Mixed-use building with retail and residential units in prime location.
      408 East 138Th St, Bronx, NY 10454
      View Details
    • New
      $2,000,000
      0.06 Acres

      Bronx Mixed-Use Investment Opportunity

      Mixed-use building with 8 apartments and one store for sale.
      536 E 138Th St, Bronx, NY 10454
      View Details
    • $2,600,000
      Pending

      Bronx Multifamily Investment Opportunity

      Well-maintained property with 29 residential units and two commercial spaces.
      143 Lincoln Ave, Bronx, NY 10454
      View Details
    • $2,000,000
      3,900 SF

      Bronx Multifamily Investment Opportunity

      Six-unit building, high occupancy, strong NOI.
      743 136Th St, Bronx, NY 10454
      View Details
    • Contact for pricing
      9,400 SF

      751 137Th St

      Distribution properties • 9,400 SF
      751 137Th St, The Bronx, NY 10454
      View Details

    Similar Nearby for Lease

    • $75 SF/Yr
      1,212 SF

      Third Avenue Office Space

      Prime Upper East Side Office, 1212 sq ft
      0 Office Spc On 3 Ave, New York, NY 10454
      View Details
    • $75 SF/Yr
      1,653 SF

      Third Avenue Office Space

      Prime Upper East Side Office, 1653 sq ft
      0 Office Spc On 3 Ave, New York, NY 10454
      View Details
    • $75 SF/Yr
      824 SF

      Third Avenue Office Space

      824 sq ft Upper East Side Office
      0 Office Spc On 3 Ave, New York, NY 10454
      View Details
    • Contact for pricing
      7,500 SF

      Prime Bronx Retail Space Available

      7,500 SF Retail, Multiple Units
      589 138Th St, The Bronx, NY 10454
      View Details
    • Contact for pricing
      10,000 SF

      Prime Bronx Warehouse For Lease

      10,000 SF Warehouse, Excellent Location
      703 134Th St, The Bronx, NY 10454
      View Details
    • Contact for pricing
      43,000 SF

      Industrial Warehouse Space Available

      Industrial warehouse space available for rent.
      181-191 Bruckner Blvd, Bronx, NY 10454
      View Details
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    The Bronx, NY 10454
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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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