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    611 E 161St St, Unit The Bronx, NY 10456

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    For Sale
    $1,300,000

    Investment property with long-term tax abatement and conversion potential.

    Lot size:
    0.06 Acres

    Property Features for 611 E 161St St

    General Information

    Lot size
    0.06 Acres

    Building Details

    Year built
    2008

    Source: Everest Realty Group LLC Agent Omid Pouratian

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Bronx Investment Opportunity For Sale

    This property presents a significant investment opportunity. Constructed less than 10 years ago, the property benefits from a long-term 421a tax abatement, which is in place for 25 years. All tenants are responsible for covering their own utility expenses. The property includes land that offers the potential for conversion into parking or storage facilities.
    Insight Report Location Intelligence

    Current Use by Public Records

    Parking lots & garages

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    New Bronx Taxi, Mecánico aceite y frenos, True Ark, RC Van Courier, Delivery & Moving Company, RC Van Moving Service Company & Professional Movers

    Location Insight

    • Map
    • Local Demand
    City
    Bronx
    County
    Bronx
    State
    New York
    Longitude
    -73.907873
    Latitude
    40.822259

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    FAQs

    What type of property is this?
    Parking lot & garage - Investment property with long-term tax abatement and conversion potential.
    Where is this parking lot & garage located?
    The property is located at 611 E 161St St, Unit The Bronx, NY.
    What is the asking price?
    The asking price for this property is $1,300,000.
    What are key features of this property?
    This property features: - Long term 421a tax abatement in place for 25 years.; - All tenants pay their own utilities.; - Includes land which can be converted to parking or storage.
    (516) 532-6683
    Request Owner's contact information
    611 E 161St St, Unit The Bronx, NY 10456
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    Realmo Value Estimation

    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.

    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.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    611 E 161St St, Unit The Bronx, NY 10456
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