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

    741 216th St Bronx, NY 10467-5851

    • Apartment buildings
    • 7,115 SF
    • 0.13 lot acres
    OFF-MARKET
    Value Estimations
    $1,085,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-0008690
    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

    • grotenbale / (Bike/Boat/Book/etc) Store

    Property Details for 741 216th St

    Year built
    1928
    Lot size
    0.13 lot acres
    Property size
    7,115 SF
    Zone code
    R5
    Property type
    Apartment buildings
    APN
    04664-0028
    APU
    46640028

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,380,000
      Market price range: $748k - $2.76M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,520,000
      Current use
      COMMERCIAL (GENERAL)
      $1,610,000
      Change: +6% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Bronx
    County
    Bronx
    State
    New York
    Longitude
    -73.8623
    Latitude
    40.8812
    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
    $23,081
    $4,227
    $180,395
    $184,622
    -
    $22,000
    $939,000
    $961,000

    Comparable in this City

    • Value Estimation
      $7,355,000
      44,000 SF

      3230 Steuben Ave

      APARTMENT HOUSE (5+ UNITS) • 44,000 SF
      3230 Steuben Ave, Bronx, NY 10467-2935
      View Details
    • Value Estimation
      $10,135,000
      60,000 SF

      3250 Perry Ave

      APARTMENT HOUSE (5+ UNITS) • 60,000 SF
      3250 Perry Ave, Bronx, NY 10467-3207
      View Details
    • Value Estimation
      $5,705,000
      33,000 SF

      3540 Rochambeau Ave

      APARTMENT HOUSE (5+ UNITS) • 33,000 SF
      3540 Rochambeau Ave, Bronx, NY 10467-1309
      View Details
    • Value Estimation
      $6,715,000
      45,294 SF

      3604 Olinville Ave

      APARTMENT HOUSE (5+ UNITS) • 45,294 SF
      3604 Olinville Ave, Bronx, NY 10467-5530
      View Details
    • Value Estimation
      $9,970,000
      80,681 SF

      2765 Matthews Ave

      APARTMENT HOUSE (5+ UNITS) • 80,681 SF
      2765 Matthews Ave, Bronx, NY 10467-8618
      View Details
    • Value Estimation
      $580,000
      3,360 SF

      2527 Matthews Ave

      APARTMENT HOUSE (5+ UNITS) • 3,360 SF
      2527 Matthews Ave, Bronx, NY 10467-9106
      View Details

    Similar Nearby for Sale

    • $90,000

      Affordable Bronx Co-op For Sale

      One-bedroom co-op in the Bronx, close to transportation.
      724 The, Bronx, NY 10467
      View Details
    • $99,900

      Co-op Near Bronx Park

      Co-op near Pelham Parkway, Bronx Zoo, and Botanical Gardens.
      2244 E 6L The, Bronx, NY 10467
      View Details
    • $224,900

      Spacious Apartment Near Conveniences

      Move-in ready 3-bedroom apartment with modern amenities and convenient location.
      3555 The, Bronx, NY 10467
      View Details
    • $165,000

      Bronx Apartment with Closets

      Two-bedroom, one-bath apartment with ample closet space.
      814 The, Bronx, NY 10467
      View Details
    • $79,999

      Co-op with Renovation Potential

      One-bedroom co-op with renovation potential near transportation.
      3231 The, Bronx, NY 10467
      View Details
    • $7,500,000
      0.34 Acres

      Mixed-Use Building in Bronx, NY

      55-unit mixed-use building with retail and residential spaces.
      3505 Wayne Ave, Bronx, NY 10467
      View Details

    Similar Nearby for Lease

    • $3,200 /Mo

      The Bronx Apartment for Rent

      Apartment in The Bronx available for rent.
      719 Fl. The, Bronx, NY 10467
      View Details
    • $45 SF/Yr
      2,800 SF

      Bronx Medical Office Building

      2,800 SF Built-Out Medical Office in The Bronx
      3584 Jerome Ave, The Bronx, NY 10467
      View Details
    • Contact for pricing
      2,800 SF

      Jerome Avenue Retail Space

      Retail space available near Mosholu Parkway subway stop.
      3466-3476 Jerome Ave, Bronx, NY 10467
      View Details
    • Contact for pricing
      2,800 SF

      Prime Bronx Retail Space

      2,800 SF Retail Space - Available Now
      3466B Jerome Ave, Bronx, NY 10467
      View Details
    • Contact for pricing
      4,000 SF

      Retail Space on Jerome Avenue

      4,000 SF retail space available for rent.
      3443 Jerome Ave, Bronx, NY 10467
      View Details
    • Contact for pricing
      1,300 SF

      Retail Spaces Near Transportation Hub

      Retail spaces available near transportation and Van Cortlandt Park.
      3478-3480 Webster Ave, Bronx, NY 10467
      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.
    741 216th St
    Bronx, NY 10467-5851
    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.