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Property profile & analytics
OFF-MARKET
Estimated value
$4,120,000
Investment properties
838 2nd Ave New York, NY 10017-4488
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US63-5000260
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1910
Total area
3,600 SF
Lot
0.03 ac (1,260 SF)
Zoning code
C1-9
APN
01337-0051
UPID
US63-5000260
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
-
Aji Sushi Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.13M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.84M
Blend (final)
Blend
$4.12M
Owner & transaction history
Kanamori America INC. · 3 yrs held
Kanamori America INC.
since 2023
Last sale
$4.2M
7 recorded transactions
Zoning & alternative use
C1-9 · New York, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$4.7M
+81.5%
Warehouse, storage
$2.9M
+12.8%
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 New York submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs New York 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
$3,950,000
ML approach
$4,125,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,610,000
Current use
RETAIL STORES
$4,735,000
Change: +81% · Conversion: Easy
WAREHOUSE, STORAGE
$2,940,000
Change: +13% · Conversion: Difficult
Blend value · Realmo final
$4.12M
Range $3.71M – $4.53M · ±10% · vs last sale $4.20M (May 4 2023)
Last sale anchor
$4.20M
May 4 2023
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
$1,144 / 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
$96,243
Tax year 2024
Assessed value
$769,824
Assessed 2024
Previous assessed
$712,800
+8.0% YoY
Effective rate
12.50%
On assessed value
Assessed land
$346,754
Assessed improvement
$423,070
Land market value
$1,145,000
Improvement market value
$1,397,000
Total market value
$2,542,000
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
1910
Heating
NONE
Buildings
1
Stories
4
Units
4
Total area
3,600 SF
Lot
0.03 ac (1,260 SF)
Zoning code
C1-9
APN
01337-0051
UPID
US63-5000260
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
C1-9 · New York, NY
Zoning C1-9 · permitted uses
C1-9 · New York, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
New York. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$2.6M
RETAIL STORES
Est. value
$4.7M
WAREHOUSE, STORAGE
Est. value
$2.9M
COMMERCIAL (GENERAL) Current
RETAIL STORES
WAREHOUSE, STORAGE
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
1910
Heating
NONE
Stories
4
Buildings
1
Units
4
Lot
0.03 ac
Current owner
From public records · entity-resolved
Kanamori America INC.
Entity
Mailing address
838 2ND AVE, NEW YORK, NY 10017-4488
Mailing matches property
Yes
Owner-occupied
Yes
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 4, 2023
$4,200,000
Kanamori America INC.
838 2nd Ave LLC
Deed
—
Jul 22, 2021
$2,788,425
838 2nd Ave LLC
Palm Management Corporation
Deed
—
—
—
Palm Management Corp
—
Deed Of Trust
related
$3,000,000 · Bank Of America
—
—
A/k/a Palm Management Corp
—
Deed Of Trust
related
$300,000 · Bank Of America
—
—
Palm Management Corp
—
Loan Modification
related
$4,000,000 · Bank Of America
—
—
Palm Management Corp
—
Deed Of Trust
related
$3,000,000 · Bank Of America
—
—
Palm Management Corp
—
Deed Of Trust
related
$500,000 · Bank Of America
—
—
A/k/a Palm Management Corp
—
Deed Of Trust
related
$700,000 · Bank Of America
—
—
Palm Management Corp
—
Loan Modification
related
$4,300,000 · Bank Of America
—
—
Palm Management Corp
—
Loan Modification, Consolidation And Extension
related
$500,000 · Bank Of America
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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