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Property profile & analytics
OFF-MARKET
Estimated value
$6,730,000
Office buildings
565 235th St 577, Bronx, NY 10463-1650
Individually Owned
8-yr Hold
~
Est. High Equity
Property ID
US63-1475041
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1956
Total area
23,596 SF
Lot
0.52 ac (22,600 SF)
Zoning code
R6A
APN
05794-0484
UPID
US63-1475041
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
-
CVS Pharmacy Pharmacy
-
CVS Pharmacy
-
Santander Bank ATM Atm
-
MinuteClinic at CVS Medical Clinic
-
LibertyX Bitcoin ATM Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$6.73M
Owner & transaction history
Melvin Friedland · 8 yrs held
Melvin Friedland
since 2018
5 recorded transactions
Zoning & alternative use
R6A · Bronx, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$9.1M
+6.3%
Industrial (general)
$8.8M
+1.9%
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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$8,605,000
Current use
WAREHOUSE, STORAGE
$9,145,000
Change: +6% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$8,770,000
Change: +2% · Conversion: Difficult
Blend value · Realmo final
$6.73M
Range $6.06M – $7.40M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$285 / SF
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
$338,481
Tax year 2024
Assessed value
$3,195,630
Assessed 2024
Previous assessed
$3,193,920
+0.1% YoY
Effective rate
10.59%
On assessed value
Assessed land
$813,600
Assessed improvement
$2,382,030
Land market value
$1,808,000
Improvement market value
$5,656,000
Total market value
$7,464,000
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
Office buildings
Use group
PROFESSIONAL BUILDING
Status
Off-Market
Year built
1956
Heating
NONE
Buildings
1
Stories
1
Units
2
Total area
23,596 SF
Lot
0.52 ac (22,600 SF)
Zoning code
R6A
APN
05794-0484
UPID
US63-1475041
Jurisdiction
BRONX
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R6A · Bronx, NY
Zoning R6A · permitted uses
R6A · 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.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$8.6M
WAREHOUSE, STORAGE
Est. value
$9.1M
INDUSTRIAL (GENERAL)
Est. value
$8.8M
OFFICE BUILDING Current
WAREHOUSE, STORAGE
INDUSTRIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1956
Heating
NONE
Stories
1
Buildings
1
Units
2
Lot
0.52 ac
Current owner
From public records · entity-resolved
Melvin Friedland
Individual
Mailing address
500 PARK AVE FL #11, NEW YORK, NY 10022-1606
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 4, 2018
—
Melvin Friedland
Bernland Corp
Grant Deed
$63,000 · Manufacturers & Traders Tr
Feb 20, 2014
—
3501 Johnson LLC
Lawrence & Estate Of Melvin Fried
Grant Deed
—
—
—
Lawrence Friedland
—
Deed Of Trust
related
$31,120,887 · M & T Real Estate Trust
—
—
3501 Johnson LLC
—
Deed Of Trust
related
$63,000 · Manufacturers & Traders Tr
—
—
Lawrence Friedland
—
Deed Of Trust
related
$9,000,000 · M&t Real Estate Trust (ct)
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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