Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1023 Allerton Ave, Unit The Bronx, NY 10469

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $2,200,000

    Commercial land available for sale.

    Lot size:
    0.11 Acres

    Property Features for 1023 Allerton Ave

    General Information

    Lot size
    0.11 Acres

    Building Details

    Year built
    1950

    We can help!

    Listing Contact
    Debbie Lewis Cobb
    Source: Elliman

    Listing Agent: Debbie Lewis Cobb

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

    Learn more

    Overview

    Commercial Land for Sale

    The property is being sold as is, under a fully executed contract.
    Location Intelligence

    Current Use by Public Records

    Agape Love Christian ... Christian Church

    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.

    Location Insight

    • Map
    • Local Demand
    City
    Bronx
    County
    Bronx
    State
    New York
    Longitude
    -73.858116
    Latitude
    40.865746

    Nearby Similar for Sale

    • $1,599,000
      3,500 SF

      Bronx Two-Family with Accessory Suite

      Custom-built two-family home with in-law suite and modern amenities.
      2757 Tenbroeck Ave, Bronx, NY 10469
      View Details
    • $1,350,000
      Pending

      Bronx Colonial Multifamily Investment Property

      Legal 4-family home in Woodlawn, close to Manhattan.
      65 E 233Rd St, Bronx, NY 10470
      View Details
    • New
      $875,000
      0.06 Acres

      Bronx SRO Investment Opportunity

      13-unit SRO with owner's duplex in Van Nest.
      376 Bronx Park Ave, Bronx, NY 10460
      View Details
    • $1,399,000
      2,912 SF

      Renovated Multi-Family Home, Pelham Bay

      Renovated multi-family home near the #6 train and Pelham Bay Park.
      1711 Mahan Ave, Bronx, NY 10461
      View Details
    • New
      $839,000
      0.06 Acres

      Bronx Two-Family Brick Residence

      Two-family brick residence in the Pelham Parkway area of the Bronx.
      806 Waring Ave, Bronx, NY 10467
      View Details
    • $875,000
      Pending

      Bronx Two-Family Home For Sale

      Well-maintained two-family home in Throggs Neck, Bronx.
      280 Throggs Neck Blvd, Bronx, NY 10465
      View Details
    • $775,000
      Pending

      Refreshed Bronx Two-Family Home

      Two-family home in Williamsbridge area, move-in ready, income potential.
      3650 Olinville Ave, Bronx, NY 10467
      View Details
    • $1,290,000
      0.17 Acres

      Bronx Retail Property For Sale

      Retail property available for purchase in the Bronx, New York.
      1506 Bronxdale Ave, Bronx, NY 10462
      View Details
    • $810,000
      Pending

      Bronx Two-Family Home with Garage

      Well-maintained two-family home in the Bronx with investment potential.
      820 Penfield St, Bronx, NY 10470
      View Details
    • New
      $1,295,000
      0.06 Acres

      Renovated Two-Family Home, Move-In Ready

      Fully renovated two-family home with modern upgrades and income potential.
      2916 Heath Ave, Bronx, NY 10463
      View Details
    • $1,050,000
      0.16 Acres

      Riverdale Multifamily Investment Opportunity

      Multifamily home with income potential in prime Riverdale location.
      3650 Waldo Ave, Bronx, NY 10463
      View Details
    • $925,000
      3,178 SF

      Move-in Ready Bronx Multi-Unit Home

      Two-family home with income potential and significant energy savings.
      1417 Clinton Ave, Bronx, NY 10456
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial land available for sale.
    Where is this commercial land located?
    The property is located at 1023 Allerton Ave, Unit The Bronx, NY.
    What is the asking price?
    The asking price for this property is $2,200,000.
    What are key features of this property?
    This property features: - Contract fully executed; - Being sold as is; - Year Built: 1950
    (929) 224-0479
    Request Owner's contact information
    1023 Allerton Ave, Unit The Bronx, NY 10469
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1023 Allerton Ave, Unit The
    Bronx, NY 10469
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    1023 Allerton Ave, Unit The Bronx, NY 10469
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Debbie Lewis Cobb
    (929) 224-0479
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.