Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2962 3rd Ave, Unit 2968 Bronx, NY 10455-2551
    Back to Search
    Property profile & analytics

    2962 3rd Ave, Unit 2968, Bronx, NY 10455-2551

    View on Map
    • Investment properties
    • 11,750 SF
    • 0.21 lot acres
    Off-Market
    Property ID
    US63-5116949
    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.
    Value Estimations
    $2,100,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Rainbow Shops / Clothing & Fashion Store

    Property Details for 2962 3rd Ave

    Year built
    1937
    Lot size
    0.21 lot acres
    Zone code
    C4-4
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    02362-0050
    APU
    23620050

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Sep 5, 2018 $5,250,000 Third Avenue Emerald LLC 2952 Third Avenue LLC Grant Deed —
    Jun 9, 2016 $13,100,000 2952 Third Avenue LLC Bronx Hub Acquisitions LLC Grant Deed $3M · Bankunited Fsb
    Jun 9, 2016 — 2970 Third Avenue LLC — Deed · related $6M · Bankunited Fsb
    Jan 29, 2015 $8,060,996 Bronx Hub Acquisitions LLC Ca 2952 Third Avenue LLC Grant Deed $9M · Emerald Crk Cap
    — — 2970 Third Avenue LLC — Loan Modification · related $3M · Bankunited Fsb
    — — 2970 Third Avenue LLC — Loan Modification · related $9M · Bankunited Fsb
    — — 2970 Third Avenue LLC — Loan Modification · related $6M · Bankunited Fsb

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $2,290,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $2,485,000
      Change: +8% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Bronx
    County
    Bronx
    State
    New York
    Longitude
    -73.9143
    Latitude
    40.8181
    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
    $122,963
    $627,750
    $533,150
    $1,160,900
    -
    $1,395,000
    $1,356,000
    $2,751,000

    Comparable in this City

    • Value Estimation
      $1,105,000
      5,800 SF

      550 Melrose Ave

      STORE/OFFICE (MIXED USE)
      550 Melrose Ave, Bronx, NY 10455
      View Details
    • Value Estimation
      $4,405,000
      25,232 SF

      2886 3rd Ave

      STORE/OFFICE (MIXED USE)
      2886 3rd Ave, Bronx, NY 10455-2601
      View Details
    • Value Estimation
      $525,000
      2,926 SF

      2785 3rd Ave

      STORE/OFFICE (MIXED USE)
      2785 3rd Ave, Bronx, NY 10455-4002
      View Details
    • Value Estimation
      $2,215,000
      4,332 SF

      2944 3rd Ave

      STORE/OFFICE (MIXED USE)
      2944 3rd Ave, Bronx, NY 10455-2569
      View Details
    • Value Estimation by Request
      2,394 SF

      2798 3rd Ave

      STORE/OFFICE (MIXED USE)
      2798 3rd Ave, Bronx, NY 10455
      View Details
    • Value Estimation
      $795,000
      4,100 SF

      2912 3rd Ave

      STORE/OFFICE (MIXED USE)
      2912 3rd Ave, Bronx, NY 10455-2601
      View Details

    Similar Nearby for Sale

    • $3,000,000

      Mixed-Use Investment in Mott Haven

      16-unit mixed-use property in the heart of Mott Haven.
      504 Brook Ave, Bronx, NY 10455
      View Details
    • Contact for pricing
      44,610 SF

      Bronx Retail and Office Building

      Mixed-use building in the South Bronx with high traffic.
      2922 3Rd Ave, Bronx, NY 10455
      View Details
    • Contact for pricing
      15,000 SF

      Adaptable Commercial Building in Bronx

      Five-story commercial building in the South Bronx, delivered vacant.
      2936 3Rd Ave, Bronx, NY 10455
      View Details
    • Contact for pricing
      87,120 SF

      Mixed-Use Property for Sale

      Mixed-use property available for purchase.
      809 Westchester Ave, Bronx, NY 10455
      View Details
    • Contact for pricing
      44,610 SF

      Bronx Retail and Office Building

      Retail and office building in the South Bronx.
      2922 3Rd Ave, Bronx, NY 10455
      View Details

    Similar Nearby for Lease

    • $6,800 /Mo
      1,742 SF

      Established Bronx Restaurant Opportunity

      Restaurant space with equipment, basement, and high foot traffic.
      2783 3Rd Ave, Bronx, NY 10455
      View Details
    • Contact for pricing
      10,000 SF

      Bronx Retail Space Available

      10,000 SF retail space with high ceilings and elevator.
      2886-2890 3Rd Ave, Bronx, NY 10455
      View Details
    • Contact for pricing

      Renovated Office Spaces in Hub

      Multiple renovated office spaces in the Bronx's "The Hub".
      370 E 149Th St, Bronx, NY 10455
      View Details
    • Contact for pricing
      9,939 SF

      Bronx Retail Space Available

      9,939 square foot retail space in the Bronx.
      2952 3Rd Ave, Bronx, NY 10455
      View Details
    • Contact for pricing
      1,300 SF

      Bronx Retail Space Available

      1300 sq ft retail space for rent in Bronx.
      3007 3Rd Ave, Bronx, NY 10455
      View Details
    • Contact for pricing
      15,000 SF

      Prime Bronx Medical Office Space

      15,000 SF Medical Office Building For Lease
      2918 3Rd Ave, The Bronx, NY 10455
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2962 3rd Ave, Unit 2968
    Bronx, NY 10455-2551
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2962 3rd Ave, Bronx, NY, 10455
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!