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

    331 81st St New York, NY 10028-4062

    • Retail residential properties
    • 10,606 SF
    • 0.06 lot acres
    OFF-MARKET
    Last Sale
    Jan 06, 2022
    Value Estimations
    $395,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3839778
    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

    • Blo Blow Dry Bar / Beauty Salon / Hair Salon
    • Grooming Alchemist House of Barbers / Barber Shop / Art Gallery
    • 𝕿𝖍𝖊 𝕳𝖔𝖚𝖘𝖊 𝖔𝖋 𝕬𝖗𝖙𝖎𝖘𝖆𝖓 𝕭𝖆𝖗𝖇𝖊𝖗 / Barber Shop / Hair Salon
    • Myershoe USA Inc / Shoe Store

    Property Details for 331 81st St

    Year built
    1910
    Lot size
    0.06 lot acres
    Property size
    10,606 SF
    Zone code
    R8B
    Property type
    Retail residential properties
    APN
    01544-0012
    APU
    15440012

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $365,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $429,000
      Market price range: $229k - $551k

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

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.9529
    Latitude
    40.7744
    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
    $198,538
    $330,750
    $1,321,700
    $1,652,450
    -
    $735,000
    $2,794,000
    $3,529,000

    Comparable in this City

    • Value Estimation
      $260,000
      11,650 SF

      1594 York Ave

      STORES & APARTMENTS • 11,650 SF
      1594 York Ave, New York, NY 10028-6204
      View Details
    • Value Estimation
      $400,000
      281,902 SF

      1520 York Ave, Unit 1528

      STORES & APARTMENTS • 281,902 SF
      1520 York Ave, New York, NY 10028-7008
      View Details
    • Value Estimation
      $235,000
      10,110 SF

      227 81st St

      STORES & APARTMENTS • 10,110 SF
      227 81st St, New York, NY 10028-3209
      View Details
    • Value Estimation
      $195,000
      16,640 SF

      507 81st St

      STORES & APARTMENTS • 16,640 SF
      507 81st St, New York, NY 10028-2532
      View Details
    • Value Estimation
      $500,000
      26,400 SF

      42nd E 82nd St

      STORES & APARTMENTS • 26,400 SF
      42nd E 82nd St, New York, NY 10028
      View Details
    • Value Estimation
      $260,000
      9,275 SF

      309 83rd St

      STORES & APARTMENTS • 9,275 SF
      309 83rd St, New York, NY 10028-4368
      View Details

    Similar Nearby for Sale

    • $1,026,658
      1,142 SF

      Prime Upper East Side Medical Office

      1,142 SF Medical Office - $1M+
      90 End Ave, New York, NY 10028
      View Details
    • $1,750,000

      Apartment Building For Sale

      Apartment building for sale in New York, NY.
      61 E 86Th St, New York, NY 10028
      View Details
    • $4,500,000

      Apartment Building in New York

      Apartment building for sale in New York, NY.
      25 E 86Th St, New York, NY 10028
      View Details
    • $525,000

      New York Specialty Property

      Specialty property available for sale in New York, NY.
      334 E 83Rd St, New York, NY 10028
      View Details
    • $2,625,000

      Residential Income Property For Sale

      Residential income property available for purchase.
      125 E 84Th St, New York, NY 10028
      View Details
    • $29,995,000

      9 E 82ND St, New York

      Multifamily property for sale in New York, NY 10028
      9 E 82Nd St, New York, NY 10028
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      9,000 SF

      York Avenue Retail Space For Lease

      Prime NYC Retail, 9,000 SF Available
      1637 York Ave, New York, NY 10028
      View Details
    • $9,000 /Mo
      1,700 SF

      Medical Office Space Available Now

      Medical office space featuring five exam rooms for rent.
      969 Park Ave, New York, NY 10028
      View Details
    • $17,500 /Mo
      1,700 SF

      Restaurant Space with High Traffic

      Restaurant space for rent in high-traffic location.
      211 E 86Th St, New York, NY 10028
      View Details
    • $3,700 /Mo

      York Avenue Apartment For Rent

      Apartment for rent, tenant responsible for utilities and insurance.
      1640 York Ave, New York City, NY 10028
      View Details
    • $9,250 /Mo
      450 SF

      Retail Space on Lexington Avenue

      Retail space with heavy foot traffic near Lexington Avenue.
      128 E 84Th St, New York, NY 10028
      View Details
    • Contact for pricing
      2,250 SF

      Retail Space on Madison Avenue

      Prime retail space available in New York, NY.
      1122 Madison Ave, New York, NY 10028
      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.
    331 81st St
    New York, NY 10028-4062
    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.