Longwood Avenue Development
867 Longwood Ave The Bronx, NY 10459
For Sale
$25,000,000
Large lot suitable for multi-story retail and residential development.
Property Size77,000 SF
Lot Size0.65 Acres
Price / SF$324.68
Days on Market142
Property Features for 867 Longwood Ave The
General Information
Standard status
Active
Size
77,000 SF
Lot size
0.65 Acres
Property subtype
Commercial
Building Details
Year Built
2007
Listing Agency:
Best Group Realty, Inc.
(718) 909-9596
Listed By:
Yinzhu Jin
(718) 909-9596
Source:
Elliman
Added: Mar 11
Changed: Jul 6
Last Checked: Jul 30 at 6:39AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Best Group Realty, Inc.
Investment Insights
Based on property information with market context.
The property located at 867 Longwood Ave, also known as 840 Westchester Ave and 848 Westchester Ave, presents a development opportunity. The zoning is R7-1, C4-1, permitting an additional residential multi-story retail building as of right. The lot encompasses 28,500 square feet with a potential usage of 77,000 square feet. The property includes an indoor on-site parking garage with 75 spots. It is situated at the 3-way intersection of Prospect Avenue, Westchester Avenue, and Longwood Avenue.
Key Highlights
- Zoning R7‑1, C4‑1 permits residential and multi‑story retail building AS OF RIGHT.
- Large 28,500 sq ft lot with a substantial 77,000 sq ft usage area.
- On‑site indoor parking garage with 75 spots.
Financial Insights For Apartment 5plus
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 | $3.42M | $44.40 |
| − Vacancy | −$198.3k | −$2.58 |
| EGI | $3.22M | $41.82 |
| − OpEx | −$1.45M | −$18.82 |
| NOI | $1.77M | $23.00 |
77,000 SF · lease $44.40/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Industrial
$43.94M
$38.45M – $51.26M
NOI $3,075,793 @ 7.0% cap · market cap 12.30%
Second Best
Apartment 5plus
$25.30M
$22.14M – $29.52M
NOI $1,771,280 @ 7.0% cap · market cap 7.09%
Theoretical Best
Warehouse
$53.36M
$46.69M – $62.25M
NOI $3,734,891 @ 7.0% cap · market cap 14.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Commercial land - Large lot suitable for multi-story retail and residential development.
Where is this commercial land located?
The property is located at 867 Longwood Ave The Bronx, NY.
What is the asking price?
The asking price for this property is $25,000,000.
What are key features of this property?
This property features: Zoning R7‑1, C4‑1 permits residential and multi‑story retail building AS OF RIGHT.; Large 28,500 sq ft lot with a substantial 77,000 sq ft usage area.; On‑site indoor parking garage with 75 spots.
