Two-Story Medical Office
For Sale
$4,500,000
3765 Riverdale Ave, Bronx, NY 10463
COMMERCIAL - Other - Bronx, NY
Property Size11,000 SF
Lot Size0.16 Acres
Price / SF$409.09
Days on Market52
Property Features for 3765 Riverdale Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Riverdale
Standard status
Active
Size
11,000 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
109000
Utilities
Water source
Public
Building Details
Year built
1968
Floors in Building
2
Architectural style
Other
Listing Agency:
ANDREW LICHTENSTEIN INC
(718) 549-5999
Listed By:
Andrew Lichtenstein · License #31LI0467407
(718) 549-5999
Added: Jun 22
Changed: Aug 4
Last Checked: Aug 12 at 1:06AM
MLS# 11877597
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-story medical office elevator building includes eight medical office suites. The property provides 8,943 rentable square feet across the occupied suites, and there is a vacant 1,200 square feet space available to rent or for owner use.
All units are gross leased. The offering is presented as a possible development opportunity, with the potential to build up to 33,792 square feet, including 22,000 square feet for residential use, referenced as up to approximately 40 apartments under City of Yes.
The site totals 0.1616 acres, and the building size is listed as 11,000 square feet.
All units are gross leased. The offering is presented as a possible development opportunity, with the potential to build up to 33,792 square feet, including 22,000 square feet for residential use, referenced as up to approximately 40 apartments under City of Yes.
The site totals 0.1616 acres, and the building size is listed as 11,000 square feet.
Key Highlights
- Two‑story 11,000 SF elevator building with 8 medical office suites and 8,943 RSF
- Includes 1,200 SF currently vacant, available to rent or for owner use
- All units are gross leased
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$275,468
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.12%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,509,360
$5.5M
Cap Rate 7%
$3,935,257
$3.9M
Cap Rate 9%
$3,060,756
$3.1M
Market Conditions
NOI Build-Up for 11,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$462.0K $42.00/SF
− Vacancy
−$94.7K −$8.61/SF
EGI
$367.3K $33.39/SF
− OpEx
−$91.8K −$8.35/SF
NOI
$275.5K $25.04/SF
Area
Bronx, NY
Vacancy
20.50%
Lease Rate
$42.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,509,360
Cap Rate 7%
$3,935,257
Cap Rate 9%
$3,060,756
Alternative Uses
Best Use
Office B
$3.94M
$3.44M – $4.59M
NOI $275,468 @ 7.0% cap · market cap 6.12%
Second Best
Healthcare Medical
$3.26M
$2.85M – $3.80M
NOI $228,096 @ 7.0% cap · market cap 5.07%
Theoretical Best
Warehouse
$7.62M
$6.67M – $8.89M
NOI $533,556 @ 7.0% cap · market cap 11.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,467
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 10463, NY
71,301
Population
30,602
Households
2.3
Avg Household Size
41
Median Age
44%
College-Educated
85%
High-School Grad
2.8 sq mi
ZIP Area
25,465
Density / Sq Mi
$72,952
Median Household Income
$48,409
Median Earnings
$1,611
Median Rent
$352,200
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Riverdale Veterinary Group PC — Veterinary Group, 3607 Riverdale Ave, Bronx, NY 10463
- Petco Vaccination Clinic — 193 W 237th St, Bronx, NY 10463
- Pet Surgery Center of New York — 630 W 246th St Suite 1424, Bronx, NY 10471
- Broadway Animal Hospital of Riverdale — 5664 Broadway, Bronx, NY 10463
- Riverdale Animal Hospital — 3619 Kingsbridge Ave, Bronx, NY 10463
Frequently Asked Questions
What type of property is this?
Medical Office Space - Two-story elevator office building with eight medical suites and gross-lease structure, plus a vacant 1,200 square feet space.
Where is this medical office space located?
The property is located at 3765 Riverdale Ave Bronx, NY.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: Two‑story 11,000 SF elevator building with 8 medical office suites and 8,943 RSF; Includes 1,200 SF currently vacant, available to rent or for owner use; All units are gross leased
