Pelham Gardens Assisted Living
For Sale
$5,200,000
2225 Lodovick Avenue The, Bronx, NY 10469
13,540 SF Unique opportunity in the heart of Pelham Gardens
Property Size13,540 SF
Price / SF$384.05
Days on Market589
Property Features for 2225 Lodovick Avenue The
General Information
Standard status
Active
Property type
Other healthcare properties, Other mixed-use properties, Other investment properties, Healthcare properties, Mixed-use properties, Investment properties
Size
13,540 SF
Elevators
N/A
Building Details
Year Built
1927
Buildings
1
Stories
3
Units
25
Listing Agency:
(914) 902-8700
Listed By:
Domenick
(914) 902-8700
Added: Jan 8, 2025
Changed: Mar 16
Investment Insights
Based on property information with market context.
Located in Pelham Gardens, The Bronx, this 13,540 square foot assisted living facility at 2225 Lodovick Avenue, zip code 10469, presents an investment opportunity. The property currently operates as an assisted living facility with 25 units and has a history of serving the community. The property is categorized as an investment property, healthcare property, and mixed-use property. Substantial renovations and upgrades are recommended to meet the demands of future clients. Its location offers convenience, situated near the MTA 5 Train and major highways, providing access to shopping centers and public transportation. This location in Pelham Gardens offers a suburban atmosphere while maintaining proximity to city life.
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
$280,765
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
5.40%
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%
$5,615,300
$5.6M
Cap Rate 7%
$4,010,929
$4.0M
Cap Rate 9%
$3,119,611
$3.1M
Market Conditions
NOI Build-Up for 13,540 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
$519.9K $38.40/SF
− Vacancy
−$52.0K −$3.84/SF
EGI
$467.9K $34.56/SF
− OpEx
−$187.2K −$13.82/SF
NOI
$280.8K $20.74/SF
Area
Bronx, NY
Vacancy
10.00%
Lease Rate
$38.40 /SF/Yr
Expense Ratio
40.00%
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%
$5,615,300
Cap Rate 7%
$4,010,929
Cap Rate 9%
$3,119,611
Alternative Uses
Best Use
Healthcare Medical
$4.01M
$3.51M – $4.68M
NOI $280,765 @ 7.0% cap · market cap 5.40%
Second Best
Mixed Use
$3.87M
$3.39M – $4.52M
NOI $271,139 @ 7.0% cap · market cap 5.21%
Theoretical Best
Warehouse
$9.38M
$8.21M – $10.95M
NOI $656,759 @ 7.0% cap · market cap 12.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,052
Businesses Nearby
Explore this area
Business Placement
Demographics for 10469, NY
71,571
Population
25,082
Households
2.9
Avg Household Size
39
Median Age
29%
College-Educated
83%
High-School Grad
2.4 sq mi
ZIP Area
29,821
Density / Sq Mi
$76,018
Median Household Income
$45,857
Median Earnings
$1,653
Median Rent
$640,400
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Healthcare property - 13,540 SF Unique opportunity in the heart of Pelham Gardens
Where is this healthcare property located?
The property is located at 2225 Lodovick Avenue The Bronx, NY.
What is the asking price?
The asking price for this property is $5,200,000.
