971-973 1st Ave New York, NY 10022
Entity Owned
~
Est. High Equity
Estimated value (blended)
$7.54M
Range $6.79M – $8.29M (±10%)
Property ID
US63-2270114
Property profile
Verified
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Year built
1918
Total area
14,875 SF
Lot
0.09 ac (3,800 SF)
Zoning code
R10
APN
01346-0026
UPID
US63-2270114
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$7.30M
Comparable Approach
Comparable
$8.21M
Blend (final)
Blend
$7.54M
Owner & transaction history
since 2026
Last sale
$7.3M
5 recorded transactions
Zoning & alternative use
R10 · New York, NY
Top alternative use upside
Warehouse, storage
$12.2M
+5.5%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 12 comparables with addresses
2 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$7.54M
Value range
$6.79M – $8.29M
±10% around blend
Estimated value / SF
$507 / SF
Confidence
High
12 county-verified comps
Property data
88
Market benchmarks
100
Comparable evidence
100
$6.79M
blend $7.54M
$8.29M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
14,875 SF
Lot area
0.09 ac
Year built
1918
Stories
5
APN
01346-0026
Assessed value
$1,773,000
Annual tax
$221,660
3
Income approach: direct capitalization
Partial preview
Income approach indication
$7.30M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$7.90M
@ 6.5% CAP return
$7.30M
@ 7% CAP return
$6.78M
4
Sales comparison
Partial preview
Sales approach indication
$16.37M
Weighted, 12 comps · high confidence
Evidence
12 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
1.8 mi away · 16,351 SF
2.0 mi away · 11,310 SF
2.1 mi away · 11,290 SF
2.5 mi away · 15,416 SF
2.6 mi away · 15,330 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$7.54M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 44 sales
$774
-35%
Submarket 1320 sales
$725
-30%
County 1319 sales
$722
-30%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $507/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Warehouse, Storage
Gross theoretical uplift
+6%
vs current-use indication
Commercial (general) · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 12 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
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Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$7.32M
Move the market yield to see immediate price impact.
Value / SF
$492
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$461k
$9.23M
$6.59M
$5.13M
$513k
$10.26M
$7.32M
$5.70M
$564k
$11.28M
$8.06M
$6.27M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
12 found
High confidence · county-verified
Closest comparable
$6.65M
1.7 mi · Dec 2025 · $410/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$221,660
Tax year 2024
Assessed value
$1,773,000
Assessed 2024
Previous assessed
$1,725,750
+2.7% YoY
Effective rate
12.50%
On assessed value
Assessed land
$391,050
Assessed improvement
$1,381,950
Land market value
$869,000
Improvement market value
$3,096,000
Total market value
$3,965,000
Applied tax rate
2.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Status
Off-Market
Year built
1918
Heating
NONE
Buildings
1
Stories
5
Units
21
Total area
14,875 SF
Lot
0.09 ac (3,800 SF)
Zoning code
R10
APN
01346-0026
UPID
US63-2270114
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R10 · New York, NYZoning R10 · permitted uses
R10 · New York, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1918
Heating
NONE
Stories
5
Buildings
1
Units
21
Lot
0.09 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
R10
Jurisdiction
New York, NY
Recorded code
R10
Ownership Intelligence
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Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
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