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Property profile & analytics
OFF-MARKET
Estimated value
$2,100,000
Investment properties
2962 3rd Ave 2968 Bronx, NY 10455-2551
Entity Owned
7-yr Hold
Free & Clear
Property ID
US63-5116949
Property profile
Verified
Property type
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Year built
1937
Total area
11,750 SF
Lot
0.21 ac (9,298 SF)
Zoning code
C4-4
APN
02362-0050
UPID
US63-5116949
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
-
Rainbow Shops Clothing & Fashion Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.10M
Owner & transaction history
Third Avenue Emerald LLC · 7 yrs held
Third Avenue Emerald LLC
since 2018
7 recorded transactions
Zoning & alternative use
C4-4 · Bronx, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$2.5M
+8.4%
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 Bronx submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bronx 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,290,000
Current use
APARTMENT HOUSE (5+ UNITS)
$2,485,000
Change: +8% · Conversion: Moderate
Blend value · Realmo final
$2.10M
Range $1.89M – $2.31M · ±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
$179 / 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
$122,963
Tax year 2024
Assessed value
$1,160,900
Assessed 2024
Previous assessed
$1,200,150
-3.3% YoY
Effective rate
10.59%
On assessed value
Assessed land
$627,750
Assessed improvement
$533,150
Land market value
$1,395,000
Improvement market value
$1,356,000
Total market value
$2,751,000
Applied tax rate
4.0000
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
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Status
Off-Market
Year built
1937
Heating
NONE
Buildings
1
Stories
2
Units
1
Total area
11,750 SF
Lot
0.21 ac (9,298 SF)
Zoning code
C4-4
APN
02362-0050
UPID
US63-5116949
Jurisdiction
BRONX
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
C4-4 · Bronx, NY
Zoning C4-4 · permitted uses
C4-4 · Bronx, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Bronx. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$2.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.5M
COMMERCIAL (GENERAL) Current
APARTMENT HOUSE (5+ UNITS)
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
1937
Heating
NONE
Stories
2
Buildings
1
Units
1
Lot
0.21 ac
Current owner
From public records · entity-resolved
Third Avenue Emerald LLC
Entity
Free & Clear · 7 yrs held
Mailing address
1000 PENNSYLVANIA AVE, BROOKLYN, NY 11207-8417
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
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
$3,000,000 · Bankunited Fsb
Jun 9, 2016
—
2970 Third Avenue LLC
—
Deed
related
$6,000,000 · Bankunited Fsb
Jan 29, 2015
$8,060,996
Bronx Hub Acquisitions LLC
Ca 2952 Third Avenue LLC
Grant Deed
$9,000,000 · Emerald Crk Cap
—
—
2970 Third Avenue LLC
—
Loan Modification
related
$3,000,000 · Bankunited Fsb
—
—
2970 Third Avenue LLC
—
Loan Modification
related
$9,000,000 · Bankunited Fsb
—
—
2970 Third Avenue LLC
—
Loan Modification
related
$6,000,000 · Bankunited Fsb
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.
Try Rey
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