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

    506-510 181st St New York, NY 10033

    • Auto shops
    • 26,264 SF
    • 0.21 lot acres
    OFF-MARKET
    Last Sale
    Apr 16, 2020
    Value Estimations
    $1,495,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-1077781
    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

    • Auto shops

    Property Details for 506-510 181st St

    Year built
    1922
    Lot size
    0.21 lot acres
    Property size
    26,264 SF
    Zone code
    C8-3
    Property type
    Auto shops
    APN
    02152-0072
    APU
    21520072

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.9318
    Latitude
    40.8482
    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
    $258,291
    $315,000
    $2,123,550
    $2,438,550
    -
    $700,000
    $5,411,000
    $6,111,000

    Comparable in this City

    • Value Estimation by Request
      3,996 SF

      500 185th St, Unit 1013

      AUTO REPAIR, GARAGE • 3,996 SF
      500 185th St, New York, NY 10033-3201
      View Details
    • Value Estimation by Request
      1,998 SF

      383 Audubon Ave

      AUTO REPAIR, GARAGE • 1,998 SF
      383 Audubon Ave, New York, NY 10033-4210
      View Details
    • Value Estimation by Request
      1,109 SF

      3 Washington Ter

      AUTO REPAIR, GARAGE • 1,109 SF
      3 Washington Ter, New York, NY 10033-2810
      View Details
    • Value Estimation by Request
      1,625 SF

      175th St

      AUTO REPAIR, GARAGE • 1,625 SF
      175th St, New York, NY 10033
      View Details
    • Value Estimation by Request
      1,803 SF

      535 187th St

      AUTO REPAIR, GARAGE • 1,803 SF
      535 187th St, New York, NY 10033-1406
      View Details
    • Value Estimation by Request
      5,000 SF

      2292 Amsterdam Ave, Unit 2294

      AUTO REPAIR, GARAGE • 5,000 SF
      2292 Amsterdam Ave, New York, NY 10033-7301
      View Details

    Similar Nearby for Sale

    • $225,000
      38,750 SF

      Established Restaurant in Manhattan For Sale

      Turnkey Spanish restaurant in high-traffic Manhattan location with spacious basement.
      554 W 181St St, Manhattan, NY 10033
      View Details
    • Contact for pricing
      6,748 SF

      Corner Retail Property in Manhattan

      High-visibility corner commercial property in Washington Heights with stable income.
      1439 Saint Nicholas Ave, New York, NY 10033
      View Details
    • $600,000

      Prime NYC Restaurant Opportunity

      Established Restaurant, High-Traffic Location
      4195 Broadway, New York, NY 10033
      View Details
    • $475,000

      Pinehurst Avenue Multifamily Investment Opportunity

      Multifamily property for sale in New York, NY.
      116 Pinehurst Ave, New York, NY 10033
      View Details
    • $499,000

      Fort Washington Avenue Apartment Building

      Apartment building located on Fort Washington Avenue, New York.
      371 Fort Washington Ave, New York, NY 10033
      View Details
    • $1,100,000

      Washington Heights Multifamily Investment Opportunity

      Five-unit building in vibrant Washington Heights, Manhattan.
      567 W 184Th St, New York, NY 10033
      View Details

    Similar Nearby for Lease

    • $175 SF/Yr
      535 SF

      Manhattan Retail Space for Rent

      Retail space available in the Hudson Heights neighborhood of Manhattan.
      210 Pinehurst Ave, New York, NY 10033
      View Details
    • Contact for pricing
      2,800 SF

      St. Nicholas Ave Retail Spaces

      Prime NYC Retail, Multiple Units Available
      1420 St Nicholas Ave, New York, NY 10033
      View Details
    • Contact for pricing
      1,156 SF

      Retail Space in Revamped Area

      Retail spaces available in a high-traffic location, signage included.
      561-565 W 181St St, New York, NY 10033
      View Details
    • Contact for pricing
      5,702 SF

      Washington Heights Office Retail Space

      Office and retail space available in Washington Heights neighborhood.
      549 W 180Th St, New York, NY 10033
      View Details
    • Contact for pricing
      1,000 SF

      Washington Heights Corner Retail Space

      Prime corner retail space in high-traffic Washington Heights.
      1401 Saint Nicholas Ave, New York, NY 10033
      View Details
    • $13,500 /Mo
      2,500 SF

      Retail Space in Bustling Neighborhood

      Retail space in prime location with high foot traffic.
      311 Audubon Ave, New York, NY 10033
      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.
    506-510 181st St
    New York, NY 10033
    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.