Renovated Two-Story Day Care
For Sale
Contact for pricing
1451 WESTCHESTER AVE, Bronx, NY 10472
Fully renovated commercial property with long-term occupancy by a children’s day care and preschool and a therapy provider.
Property Size22,520 SF
Price / SF$341.92
Days on Market25
Property Features for 1451 WESTCHESTER AVE
General Information
Standard status
Active
Size
22,520 SF
Property subtype
Retail, Office
Zoning
R6/C2-2
Occupancy
100%
Lease Type
Modified Gross
Building Details
Year Built
1925
Year Renovated
2025
Buildings
1
Stories
2
Units
2
Tenancy
Multi
Building Size
22,520 SF
Listing Agency:
Marcus & Millichap - Manhattan
(212) 430-5229
Listed By:
Scott Plasky · License #NY 40PL1176852
Source:
Crexi
Added: Jul 28
Changed: Aug 16
Last Checked: Aug 20 at 10:16PM
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 Marcus & Millichap - Manhattan
Investment Insights
Based on property information with market context.
This fully renovated, two-story commercial building contains 22,520 square feet and was originally constructed in 1925. The property is occupied by Arcadia Children’s Day Care & Preschool and Genius Therapy, with the day care and preschool operating under a lease extending through March 2045 and the therapy provider leasing the ground floor and entire second floor through 2038.
Located on Westchester Avenue in the Bronx, the building offers a fully leased commercial configuration with two established occupants. Lease agreements include 3% annual rent escalations, providing a defined schedule for contractual income growth. The property is zoned R6/C2-2.
Located on Westchester Avenue in the Bronx, the building offers a fully leased commercial configuration with two established occupants. Lease agreements include 3% annual rent escalations, providing a defined schedule for contractual income growth. The property is zoned R6/C2-2.
Key Highlights
- 22,520 SF fully renovated two‑story commercial building
- Arcadia Children’s Day Care & Preschool lease runs through March 2045
- Genius Therapy occupies the ground floor and entire second floor through 2038
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
$563,957
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
7.32%
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%
$11,279,140
$11.3M
Cap Rate 7%
$8,056,529
$8.1M
Cap Rate 9%
$6,266,189
$6.3M
Market Conditions
NOI Build-Up for 22,520 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
$945.8K $42.00/SF
− Vacancy
−$193.9K −$8.61/SF
EGI
$751.9K $33.39/SF
− OpEx
−$188.0K −$8.35/SF
NOI
$564.0K $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%
$11,279,140
Cap Rate 7%
$8,056,529
Cap Rate 9%
$6,266,189
Alternative Uses
Best Use
Office B
$8.06M
$7.05M – $9.40M
NOI $563,957 @ 7.0% cap · market cap 7.32%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$15.60M
$13.65M – $18.21M
NOI $1,092,334 @ 7.0% cap · market cap 14.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
3,318
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 10472, NY
72,245
Population
24,259
Households
3
Avg Household Size
34
Median Age
14%
College-Educated
69%
High-School Grad
1.1 sq mi
ZIP Area
65,677
Density / Sq Mi
$43,125
Median Household Income
$35,180
Median Earnings
$1,445
Median Rent
$632,500
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Eleanor's Rainbow Day Care — 871 Hunts Point Ave, Bronx, NY 10474
- Little Angel’s Day Care — 842 Beck St Apt 1N, Bronx, NY 10459
- Belkis' Family Daycare — 887 Hunts Point Ave #1a, Bronx, NY 10474
- Mi Bebe Group family Daycare — 858 Fox St, Bronx, NY 10459
- Ready Set Learn — 830 Fox St, Bronx, NY 10459
Frequently Asked Questions
What type of property is this?
Day care center - Fully renovated commercial property with long-term occupancy by a children’s day care and preschool and a therapy provider.
Where is this day care center located?
The property is located at 1451 WESTCHESTER AVE Bronx, NY.
What is the asking price?
The asking price for this property is $7,700,000.
What are key features of this property?
This property features: 22,520 SF fully renovated two‑story commercial building; Arcadia Children’s Day Care & Preschool lease runs through March 2045; Genius Therapy occupies the ground floor and entire second floor through 2038
