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    751 Drake St, Unit 761 Bronx, NY 10474-6115
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    751 Drake St, Unit 761 Bronx, NY 10474-6115

    View on Map
    • Warehouses
    • 22,400 SF
    • 0.47 lot acres
    Off-Market
    Property ID
    US63-5790753
    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.
    Value Estimations
    $6,145,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Kirsch Mushroom Company Inc / Big Box & Wholesale Store / Food Market
    • ZoneManhattan.Com / Restaurant / Take-out & Catering

    Property Details for 751 Drake St

    Year built
    1940
    Lot size
    0.47 lot acres
    Property size
    22,400 SF
    Zone code
    M1-2
    Property type
    Warehouses
    APN
    02764-0009
    APU
    27640009

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,215,000
      Market price range: $6.22M - $12.4M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $8,165,000
      Current use
      INDUSTRIAL (GENERAL)
      $8,325,000
      Change: +2% Conversion: Easy
      OFFICE BUILDING
      $8,170,000
      Change: +0% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Bronx
    County
    Bronx
    State
    New York
    Longitude
    -73.8835
    Latitude
    40.8166
    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
    $57,054
    $88,650
    $490,410
    $579,060
    -
    $197,000
    $1,000,000
    $1,197,000

    Comparable in this City

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      $12,010,000
      40,000 SF

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      WAREHOUSE, STORAGE • 40,000 SF
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    • Value Estimation
      $9,815,000
      368,876 SF

      331 Tiffany St, Unit 381

      WAREHOUSE, STORAGE • 368,876 SF
      331 Tiffany St, Bronx, NY 10474-6705
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    • Value Estimation
      $6,735,000
      145,079 SF

      550 Food Ctr Dr

      WAREHOUSE, STORAGE • 145,079 SF
      550 Food Ctr Dr, Bronx, NY 10474-7047
      View Details
    • Value Estimation
      $21,280,000
      60,427 SF

      Halleck St

      WAREHOUSE, STORAGE • 60,427 SF
      Halleck St, Bronx, NY 10474
      View Details
    • Value Estimation by Request
      140,348 SF

      1080 Leggett Ave

      WAREHOUSE, STORAGE • 140,348 SF
      1080 Leggett Ave, Bronx, NY 10474-5602
      View Details
    • Value Estimation
      $870,000
      2,480 SF

      349 Bryant Ave

      WAREHOUSE, STORAGE • 2,480 SF
      349 Bryant Ave, Bronx, NY 10474
      View Details

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      12,500 SF

      Bronx Warehouse with Office Space

      12,500 SF warehouse featuring office space and drive-in doors.
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      10,000 SF

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      10,000 SF warehouse with offices, basement, and drive-in doors.
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      10,000 SF

      Bronx Warehouse Near Expressways

      10,000 SF warehouse with easy access to major routes.
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    • $900,000
      2,296 SF

      Bronx Two-Family Home For Sale

      Legal two-family home suitable for end-users and investors.
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    Similar Nearby for Lease

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      Hunts Point Warehouse & Retail

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      7,500 SF

      Bronx Warehouse Space Available

      7,500 SF warehouse space for rent in the Bronx.
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      5,500 SF

      Functional Warehouse Space in Bronx

      Ground floor warehouse suitable for light manufacturing and distribution.
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      220 Manida St, The Bronx, NY 10474

      Warehouses
      220 Manida St, Bronx, NY 10474
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      9,956 SF

      Warehouse with Office and Yard

      Warehouse with office space, fenced yard, and expansion potential.
      1318 Randall Ave, Bronx, NY 10474
      View Details
    • Contact for pricing

      Two-Story Industrial Building in Hunts Point

      27,500 SF industrial building with development potential in Hunts Point.
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    Bronx, NY 10474-6115
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    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
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