Co-op Near Bronx
For Sale
$120,000
2244 Bronx Park E 6L The, Bronx, NY 10467
Co-op near Pelham Parkway, Bronx Zoo, and Botanical Gardens.
Property Size500 SF
Days on Market269
Property Features for 2244 Bronx Park E 6L The
General Information
Standard status
Active
Size
500 SF
Property subtype
Residential
Building Details
Building Size
500 SF
Year Built
1960
Listing Agency:
Utopia Real Estate
(718) 359-1900
Listed By:
Paul Luciano
(718) 359-1900
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 11
Last Checked: Aug 23 at 6:37AM
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 Utopia Real Estate
Investment Insights
Based on property information with market context.
This co-op offers an opportunity for ownership near Pelham Parkway, the Bronx Zoo, and the Botanical Gardens. The property provides access to the Bronx River Parkway. Interior features include hardwood floors and a windowed bathroom.
Key Highlights
- Close proximity to Pelham Parkway
- Convenient access to Bronx Zoo and Botanical Gardens
- Easy access to Bronx River Parkway
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
$10,880
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
9.07%
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%
$217,600
$217.6K
Cap Rate 7%
$155,429
$155.4K
Cap Rate 9%
$120,889
$120.9K
Market Conditions
NOI Build-Up for 500 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
$21.0K $42.00/SF
− Vacancy
−$1.2K −$2.44/SF
EGI
$19.8K $39.56/SF
− OpEx
−$8.9K −$17.80/SF
NOI
$10.9K $21.76/SF
Area
ZIP 10467
Vacancy
5.80%
Lease Rate
$42.00 /SF/Yr
Expense Ratio
45.00%
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%
$217,600
Cap Rate 7%
$155,429
Cap Rate 9%
$120,889
Alternative Uses
Best Use
Apartment 5plus
$155.4K
$136.0K – $181.3K
NOI $10,880 @ 7.0% cap · market cap 9.07%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$346.5K
$303.2K – $404.2K
NOI $24,253 @ 7.0% cap · market cap 20.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
6,686
Businesses Nearby
Explore this area
Business Placement
Demographics for 10467, NY
103,660
Population
40,582
Households
2.6
Avg Household Size
36
Median Age
22%
College-Educated
75%
High-School Grad
2.3 sq mi
ZIP Area
45,070
Density / Sq Mi
$47,806
Median Household Income
$36,949
Median Earnings
$1,505
Median Rent
$425,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Co-op near Pelham Parkway, Bronx Zoo, and Botanical Gardens.
Where is this apartment building located?
The property is located at 2244 Bronx Park E 6L The Bronx, NY.
What is the asking price?
The asking price for this property is $120,000.
What are key features of this property?
This property features: Close proximity to Pelham Parkway; Convenient access to Bronx Zoo and Botanical Gardens; Easy access to Bronx River Parkway
