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Property profile & analytics
OFF-MARKET
Estimated value
$4,780,000
Investment properties
720 231st St Bronx, NY 10463-1004
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US63-2758899
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1936
Total area
23,048 SF
Lot
5.28 ac (229,997 SF)
Zoning code
R1-1
APN
05750-0382
UPID
US63-2758899
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
-
Elena Davis Crespo Community Center Advocacy Group
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.25M
Blend (final)
Blend
$4.78M
Owner & transaction history
2975 Independence Avenue LLC · 3 yrs held
2975 Independence Avenue LLC
since 2023
4 recorded transactions
Zoning & alternative use
R1-1 · 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
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
COMMERCIAL (GENERAL)
$5,460,000
Current use
Blend value · Realmo final
$4.78M
Range $4.30M – $5.26M · ±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
$207 / 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
$372,299
Tax year 2024
Assessed value
$3,514,910
Assessed 2024
Previous assessed
$3,209,009
+9.5% YoY
Effective rate
10.59%
On assessed value
Assessed land
$1,876,620
Assessed improvement
$1,638,290
Land market value
$5,359,000
Improvement market value
$4,722,000
Total market value
$10,081,000
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1936
Heating
NONE
Buildings
8
Stories
4
Units
5
Total area
23,048 SF
Lot
5.28 ac (229,997 SF)
Zoning code
R1-1
APN
05750-0382
UPID
US63-2758899
Jurisdiction
BRONX
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R1-1 · Bronx, NY
Zoning R1-1 · permitted uses
R1-1 · 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
COMMERCIAL (GENERAL) Current
Est. value
$5.5M
COMMERCIAL (GENERAL) Current
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
1936
Heating
NONE
Stories
4
Buildings
8
Units
5
Lot
5.28 ac
Current owner
From public records · entity-resolved
2975 Independence Avenue LLC
Entity
Mailing address
2071 FLATBUSH AVE STE #22, BROOKLYN, NY 11234-4340
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 4, 2023
—
2975 Independence Avenue LLC
2975 Independence Avenue II LLC
Deed
$19,581,505 · Greystone Funding Company LLC
Aug 28, 2017
—
Riverdale Snf LLC
—
Grant Deed
related
$22,500,300 · Citizens Bk
Jul 14, 2017
$86,375,000
2975 Independence Avenue II LLC
Frances Schervier Home And Hospital
Deed
$49,500,000 · Citizens Bank, N.a.
—
—
Riverdale Snf LLC
—
Loan Modification
related
$3,998,500 · Citizens Bk
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.
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