New search
Property profile & analytics
OFF-MARKET
Schools
388 Willis Ave, Bronx, NY 10454-1303
Entity Owned
18-yr Hold
Free & Clear
Property ID
US63-6191880
Property profile
Verified
Property type
Schools
Use group
COLLEGE, UNIVERSITY, VOC SCHOOL
Year built
2001
Total area
11,250 SF
Lot
0.05 ac (2,283 SF)
Zoning code
R6
APN
02288-0005
UPID
US63-6191880
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
-
The Bronx Charter School for Children Elementary School High School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
388 Willis LLC · 18 yrs held
388 Willis LLC
since 2007
7 recorded transactions
Zoning & alternative use
R6 · Bronx, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$8,151
Tax year 2024
Assessed value
$1,007,730
Assessed 2024
Previous assessed
$1,029,600
-2.1% YoY
Effective rate
0.81%
On assessed value
Assessed land
$76,950
Assessed improvement
$930,780
Land market value
$171,000
Improvement market value
$2,164,000
Total market value
$2,335,000
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
Schools
Use group
COLLEGE, UNIVERSITY, VOC SCHOOL
Status
Off-Market
Year built
2001
Heating
NONE
Stories
4
Units
1
Total area
11,250 SF
Lot
0.05 ac (2,283 SF)
Zoning code
R6
APN
02288-0005
UPID
US63-6191880
Jurisdiction
BRONX
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R6 · Bronx, NY
Zoning R6 · permitted uses
R6 · 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.
Building & site characteristics
From public records
Year built
2001
Heating
NONE
Stories
4
Units
1
Lot
0.05 ac
Current owner
From public records · entity-resolved
388 Willis LLC
Entity
Free & Clear · 18 yrs held
Mailing address
41 CARMINE ST FRNT A, NEW YORK, NY 10014-6907
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 19, 2018
—
388 Willis LLC
—
Grant Deed
related
$1,500,000 · Signature Bk
Jul 26, 2007
—
388 Willis LLC
384 Owners LLC
Grant Deed
related
—
Mar 30, 2006
$300,000
384 Owners LLC
Empire State Properties LLC
Grant Deed
related
—
—
—
388 Willis LLC
—
Deed Of Trust
related
$5,066,241 · Sovereign Bank
—
—
388 Willis LLC
—
Deed Of Trust
related
$1,900,000 · Harmony Bank
—
—
388 Willis LLC
—
Deed Of Trust
related
$1,580,718 · Harmony Bank
—
—
388 Willis LLC
—
Loan Modification, Consolidation And Extension
related
$8,000,000 · Signature Bk
—
—
388 Willis LLC
—
Deed Of Trust
related
$457,907 · Harmony Bank
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 388 Willis Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
