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

    450 138th St Bronx, NY 10454-3050

    • Investment properties
    • 3,336 SF
    • 0.04 lot acres
    OFF-MARKET
    Last Sale
    May 22, 2023
    Value Estimations
    $500,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-5759801
    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

    • Joselitos mexican deli & grocery / Grocery & Convenience Store / Specialty Food Shop
    • G T Akbar Distributors / Distribution Center / Logistics Company

    Property Details for 450 138th St

    Year built
    1931
    Lot size
    0.04 lot acres
    Property size
    3,336 SF
    Zone code
    R6
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    02282-0025
    APU
    22820025

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $532,000
      Market price range: $533k - $1.42M

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

    Location Insight

    • Map
    • Local Demand
    City
    Bronx
    County
    Bronx
    State
    New York
    Longitude
    -73.9214
    Latitude
    40.8082
    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
    $3,563
    $242
    $28,254
    $28,496
    -
    $8,000
    $934,000
    $942,000

    Comparable in this City

    • Value Estimation
      $600,000
      3,216 SF

      366 Willis Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,216 SF
      366 Willis Ave, Bronx, NY 10454-2443
      View Details
    • Value Estimation
      $1,615,000
      5,120 SF

      49 Bruckner Blvd

      OFFICE/RESIDENTIAL (MIXED USE) • 5,120 SF
      49 Bruckner Blvd, Bronx, NY 10454-4413
      View Details
    • Value Estimation
      $505,000
      3,000 SF

      446 142nd St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,000 SF
      446 142nd St, Bronx, NY 10454-2109
      View Details
    • Value Estimation
      $740,000
      5,120 SF

      61 Bruckner Blvd

      OFFICE/RESIDENTIAL (MIXED USE) • 5,120 SF
      61 Bruckner Blvd, Bronx, NY 10454-4435
      View Details
    • Value Estimation by Request
      2,018 SF

      262 Cypress Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 2,018 SF
      262 Cypress Ave, Bronx, NY 10454-1502
      View Details
    • Value Estimation by Request
      1,440 SF

      737 136th St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,440 SF
      737 136th St, Bronx, NY 10454-3410
      View Details

    Similar Nearby for Sale

    • $2,000,000
      0.06 Acres

      Bronx Mixed-Use Investment Opportunity

      Mixed-use building with 8 apartments and one store for sale.
      536 E 138Th St, Bronx, NY 10454
      View Details
    • $3,300,000
      6,386 SF

      Mott Haven Mixed-Use Investment

      Prime Bronx location, high NOI, strong cap rate.
      2582 3Rd Ave, The Bronx, NY 10454
      View Details
    • $2,799,000
      8,328 SF

      Bronx Mixed-Use Corner Building

      Mixed-use building with retail and residential units in prime location.
      408 East 138Th St, Bronx, NY 10454
      View Details
    • Contact for pricing

      Prime Bronx Industrial Land

      10,525 SF fenced lot, Port Morris, near subways.
      780 137Th St, The Bronx, NY 10454
      View Details
    • $3,500,000
      7,660 SF

      Prime Bronx Medical Office Building

      7,660 SF Medical Office - $3.5M
      2598 3Rd Ave, New York, NY 10454
      View Details
    • $880,000

      The Bronx NNN Property

      NNN property available for sale in The Bronx, NY.
      430 E 144Th St, Bronx, NY 10454
      View Details

    Similar Nearby for Lease

    • $50 SF/Yr
      7,660 SF

      Prime Bronx Medical Office Space

      7,660 SF, Flexible Lease Options
      2598 3 Ave The, The Bronx, NY 10454
      View Details
    • $6,666 /Mo
      4,000 SF

      Bronx Warehouse Space Available

      4,000 SF warehouse space for lease in the Bronx.
      800 E 136Th St, Bronx, NY 10454
      View Details
    • Contact for pricing
      18,668 SF

      Bruckner Blvd Warehouse and Distribution

      26,793 SF warehouse and distribution facility in the Bronx.
      307-315 Bruckner Blvd, Bronx, NY 10454
      View Details
    • $22 SF/Yr
      1,500 SF

      Renovated South Bronx Office Loft

      Turn-of-the-century, renovated office building near transportation.
      26 Bruckner Blvd, Bronx, NY 10454
      View Details
    • $75 SF/Yr
      1,653 SF

      Third Avenue Office Space

      Prime Upper East Side Office, 1653 sq ft
      0 Office Spc On 3 Ave, New York, NY 10454
      View Details
    • Contact for pricing
      10,000 SF

      Prime Bronx Warehouse For Lease

      10,000 SF Warehouse, Excellent Location
      703 134Th St, The Bronx, NY 10454
      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.
    450 138th St
    Bronx, NY 10454-3050
    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.