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Property profile & analytics
OFF-MARKET
Estimated value
$900,000
Investment properties
860 Melrose Ave Bronx, NY 10451-5757
Entity Owned
10-yr Hold
Free & Clear
Property ID
US63-0051904
Property profile
Verified
Property type
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Year built
1931
Total area
4,200 SF
Lot
0.05 ac (2,100 SF)
Zoning code
R8
APN
02382-0001
UPID
US63-0051904
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
-
United States Postal Service Logistics Service Money Order Service
-
Salón nuevo de dilenny Hair Salon Nail Salon
-
Genius Therapy LLC Social Service Agency
-
Qualycare Tax & Accounting Services Accounting Firm Tax Preparation
-
Marissa Melendez Social Service Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$900k
Owner & transaction history
860 Melrose LLC · 10 yrs held
860 Melrose LLC
since 2015
6 recorded transactions
Zoning & alternative use
R8 · 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)
$1,095,000
Current use
Blend value · Realmo final
$900k
Range $810k – $990k · ±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
$214 / 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
$40,702
Tax year 2024
Assessed value
$384,270
Assessed 2024
Previous assessed
$418,880
-8.3% YoY
Effective rate
10.59%
On assessed value
Assessed land
$42,750
Assessed improvement
$341,520
Land market value
$95,000
Improvement market value
$759,000
Total market value
$854,000
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
STORE/OFFICE (MIXED USE)
Status
Off-Market
Year built
1931
Heating
NONE
Buildings
1
Stories
2
Units
4
Total area
4,200 SF
Lot
0.05 ac (2,100 SF)
Zoning code
R8
APN
02382-0001
UPID
US63-0051904
Jurisdiction
BRONX
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R8 · Bronx, NY
Zoning R8 · permitted uses
R8 · 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
$1.1M
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
1931
Heating
NONE
Stories
2
Buildings
1
Units
4
Lot
0.05 ac
Current owner
From public records · entity-resolved
860 Melrose LLC
Entity
Free & Clear · 10 yrs held
Mailing address
2 BAY CLB DR APT 3A, BAYSIDE, NY 11360-2919
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 20, 2017
—
860 Melrose LLC
—
Deed
related
$350,000 · Woori America Bank
Sep 10, 2015
—
860 Melrose LLC
Kim,hyun S
Quit Claim Deed
—
May 27, 2015
$1,200,000
Hyun S Kim
Melrose Dev Group LLC
Grant Deed
—
Dec 15, 2006
$1,260,000
Melrose Dev Group LLC
Vaga Realty Corp
Grant Deed
—
—
—
Melrose Dev Group LLC
—
Deed Of Trust
related
$914,000 · First Central Savings Bank
—
—
Melrose Dev Group LLC
—
Deed Of Trust
related
$914,000 · First Central Savings Bank
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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