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    Versatile Commercial Property in Bronx, NY Title is generated by Realmo AI

    70 Grace Church Street, Bronx, NY 10573

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    For Sale
    $949,000

    COMMERCIAL - Bronx, NY

    Property size:
    2,988 SF
    Lot size:
    0.19 Acres
    Price / SF:
    $317/SF
    Added:
    Apr 14, 2026
    Days on Market:
    50
    Last Refresh:
    Jun 2 at 8:06 pm

    Property Features for 70 Grace Church Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    CD2
    Basement
    Finished
    Standard status
    Active
    Size
    2,988 SF
    Lot size
    0.19 Acres

    Taxes and HOA fees

    Tax Annual Amount
    21670

    Building Details

    Year built
    1984
    Number of units
    1
    Building materials
    Brick, Wood Frame
    Roof type
    Asphalt

    We can help!

    Listing Contact
    David James

    Listing agent David James

    Listing office RD Realty Consultants I LLC 2281 Schenectady Avenue, Brooklyn, NY

    Listing date Apr 14, 2026

    MLS# 500244

    Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime Location on Grace Church Street with high traffic.
    • Dual‑Storefront Layout: Two independent units with large display windows.
    • Redevelopment Potential in an area undergoing significant rezoning.
    • Flexible Commercial Use: Ideal for retail, offices, or service businesses (subject to approval).
    • Transit‑Oriented: Short distance to the Port Chester Metro‑North Station.
    • Income‑Generating Asset for owner‑users or investors.

    Overview

    This commercial property presents an opportunity to own a versatile, income-generating asset in a revitalizing area. Featuring distinct storefronts, the building is suited for an owner-user looking to offset their mortgage with rental income, or an investor seeking a high-demand retail location in a rapidly growing market. The property features a dual-storefront layout with two independent commercial units with large display windows, offering street exposure and signage opportunities. The location on Grace Church Street, a connector between the City of Rye and the waterfront, ensures consistent vehicular and pedestrian traffic. The property is ideal for retail, professional offices, specialty boutiques, or service-based businesses, subject to approval. It is located within a short distance of the Port Chester Metro-North Station, making it easily accessible for commuters and local residents. Set within a community undergoing rezoning and urban renewal, the property provides long-term appreciation potential. The property is positioned near the waterfront, the downtown dining district, and high-density residential areas. The lot size is 0.1924 acres and the property size is 2988 square feet.

    Local Financial Insights For Office B

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $125.5k $42.00
    − Vacancy −$25.7k −$8.61
    EGI $99.8k $33.39
    − OpEx −$24.9k −$8.35
    NOI $74.8k $25.04
    2,988 SF · lease $42.00/SF/yr · vacancy 20.50% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $1.07M
    $935.3K – $1.25M (±1% cap)
    NOI $74,827 @ 7.0% cap · market cap 7.88%
    Second Best
    Retail
    $898.6K
    $786.2K – $1.05M (±1% cap)
    NOI $62,899 @ 7.0% cap · market cap 6.63%
    Theoretical Best
    Warehouse
    $2.07M
    $1.81M – $2.42M (±1% cap)
    NOI $144,933 @ 7.0% cap · market cap 15.27%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Storefront properties

    Similar Places Nearby

    • Elissa Held Corporation — 168 Irving Ave #200a, Port Chester, NY 10573

    Map

    City
    Bronx
    County
    Bronx
    State
    New York
    Longitude
    -73.6759
    Latitude
    41.0136

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    FAQs

    What type of property is this?
    Storefront property - Income-generating commercial property with dual storefronts in a growing market.
    Where is this storefront property located?
    The property is located at 70 Grace Church Street Bronx, NY.
    What is the asking price?
    The asking price for this property is $949,000.
    What are key features of this property?
    This property features: Prime Location on Grace Church Street with high traffic.; Dual‑Storefront Layout: Two independent units with large display windows.; Redevelopment Potential in an area undergoing significant rezoning.
    (718) 859-0800
    We can help!
    Listing Contact
    David James
    Request Owner's contact information
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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.

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