Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3034 Wallace Ave Bronx, NY 10467-8408

    • Apartment buildings
    • 6,561 SF
    • 0.09 lot acres
    OFF-MARKET
    Value Estimations
    $1,220,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2978320
    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

    • Apartment buildings

    Property Details for 3034 Wallace Ave

    Year built
    1928
    Lot size
    0.09 lot acres
    Property size
    6,561 SF
    Zone code
    R6
    Property type
    Apartment buildings
    APN
    04571-0019
    APU
    45710019

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,400,000
      Current use
      COMMERCIAL (GENERAL)
      $1,485,000
      Change: +6% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Bronx
    County
    Bronx
    State
    New York
    Longitude
    -73.864
    Latitude
    40.8706
    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
    $33,162
    $5,291
    $259,964
    $265,255
    -
    $18,000
    $884,400
    $902,400

    Comparable in this City

    • Value Estimation
      $10,235,000
      73,566 SF

      31 Mosholu N Pkwy

      APARTMENT HOUSE (5+ UNITS) • 73,566 SF
      31 Mosholu N Pkwy, Bronx, NY 10467-1903
      View Details
    • Value Estimation
      $8,820,000
      65,250 SF

      2310-2314 Holland Ave

      APARTMENT HOUSE (5+ UNITS) • 65,250 SF
      2310-2314 Holland Ave, Bronx, NY 10467
      View Details
    • Value Estimation
      $1,200,000
      8,900 SF

      3053 Hull Ave

      APARTMENT HOUSE (5+ UNITS) • 8,900 SF
      3053 Hull Ave, Bronx, NY 10467-4609
      View Details
    • Value Estimation
      $10,585,000
      75,000 SF

      277 207th St

      APARTMENT HOUSE (5+ UNITS) • 75,000 SF
      277 207th St, Bronx, NY 10467-4049
      View Details
    • Value Estimation
      $7,955,000
      54,775 SF

      55 208th St

      APARTMENT HOUSE (5+ UNITS) • 54,775 SF
      55 208th St, Bronx, NY 10467-2728
      View Details
    • Value Estimation
      $575,000
      11,136 SF

      744 215th St

      APARTMENT HOUSE (5+ UNITS) • 11,136 SF
      744 215th St, Bronx, NY 10467-5811
      View Details

    Similar Nearby for Sale

    • $115,000

      Spacious Junior 4 Co-op

      Well-maintained 1-bedroom co-op with flexible additional room.
      3176 The, Bronx, NY 10467
      View Details
    • $130,000

      Bronx Multifamily Property for Sale

      Multifamily property available in the Bronx, New York.
      2244 E 1E The, Bronx, NY 10467
      View Details
    • $215,000

      Bronx Cooperative Apartment with Bedrooms

      Three-bedroom cooperative apartment in the Williamsbridge area of the Bronx.
      814 B Tilden St #4J, Bronx, NY 10467
      View Details
    • $225,000

      Apartment with Elevator Access

      Well-maintained apartment near trains, stores, and schools.
      2922 The, Bronx, NY 10467
      View Details
    • $99,000

      HDFC Building One Bedroom Unit

      Spacious one-bedroom unit with updated bathroom and eat-in kitchen.
      3215 The, Bronx, NY 10467
      View Details
    • $124,900

      Studio Co-op in Pelham Pkwy

      Spacious studio co-op near transportation and amenities.
      2255 The, Bronx, NY 10467
      View Details

    Similar Nearby for Lease

    • $3,200 /Mo

      The Bronx Apartment for Rent

      Apartment in The Bronx available for rent.
      719 Fl. The, Bronx, NY 10467
      View Details
    • $45 SF/Yr
      2,800 SF

      Bronx Medical Office Building

      2,800 SF Built-Out Medical Office in The Bronx
      3584 Jerome Ave, The Bronx, NY 10467
      View Details
    • Contact for pricing
      2,800 SF

      Jerome Avenue Retail Space

      Retail space available near Mosholu Parkway subway stop.
      3466-3476 Jerome Ave, Bronx, NY 10467
      View Details
    • Contact for pricing
      2,800 SF

      Prime Bronx Retail Space

      2,800 SF Retail Space - Available Now
      3466B Jerome Ave, Bronx, NY 10467
      View Details
    • Contact for pricing
      3,700 SF

      New Development Ideal for Schools

      New development suitable for schools, medical tenants, or daycare.
      2279 Barker Ave, Bronx, NY 10467
      View Details
    • Contact for pricing
      4,000 SF

      Retail Space on Jerome Avenue

      4,000 SF retail space available for rent.
      3443 Jerome Ave, Bronx, NY 10467
      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.
    3034 Wallace Ave
    Bronx, NY 10467-8408
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.