Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Bronx Retail Space Available Title is generated by Realmo AI

    651 River Ave, Bronx, NY

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Retail space in a 900,000 SF power center.

    Type:RETAIL
    Property size:
    4,584 SF
    Lot size:
    5.09 Acres
    Added:
    Aug 1, 2024
    Days on Market:
    675
    Last Refresh:
    May 20 at 8:45 pm

    Property Features for 651 River Ave

    General Information

    Standard status
    Active
    Size
    4,584 SF
    Lot size
    5.09 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 651 River Ave Contact us

    We can help!

    Listing Contact
    Brian Schuster
    Brian Schuster

    Listing agent Brian Schuster

    Listing office RIPCO Real Estate - Long Island

    Listing date Aug 1, 2024

    Source Moodyscre

    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 RIPCO Real Estate - Long Island

    HighLights

    • 900,000 SF Power Center
    • Over 2,300 parking spaces
    • Direct access to Exits 4, 5 & 6 from the Major Deegan Expressway
    • Walking distance to the 149th Street Grand Concourse subway stop (2,4,5 trains)

    Overview

    This retail property offers 4,584 square feet of space. The property is located within a 900,000 square foot power center that includes over 2,300 parking spaces. It has direct access to Exits 4, 5, and 6 from the Major Deegan Expressway and is within walking distance of the 149th Street Grand Concourse subway stop, which serves the 2, 4, and 5 train lines.
    Property Profile Location Intelligence

    Current Use by Public Records

    E-J Energy Services Electrical Service GNC (Bike/Boat/Book/etc) Store CareMax Bronx Terminal ... Medical Clinic T-Mobile Mobile Phone Store BTM Footwear Inc. Clothing & Fashion Store

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bronx
    County
    Bronx
    State
    New York
    Longitude
    -73.9287
    Latitude
    40.8242

    Nearby Similar for Lease

    • $1,800/Mo
      600 SF

      Bronx Commercial Space for Lease

      Commercial space for lease in the Bronx, perfect for business.
      496 City Island Avenue, Bronx, NY 10464
      View Details
    • $4,500/Mo
      1,300 SF

      Versatile Commercial Space on Westchester

      Adaptable 1,300 sq ft commercial space in the Bronx.
      1400 Doris Street, Bronx, NY 10462
      View Details
    • $5,500/Mo

      Retail Space in Little Italy

      Prime corner retail space in the Bronx's Little Italy.
      2476 Arthur Avenue, Bronx, NY 10458
      View Details
    • $1,600/Mo
      400 SF

      Bronx Commercial Space For Rent

      Commercial space in Bronx, suitable for various business types.
      496 City Island Avenue, Bronx, NY 10464
      View Details
    • $2,500/Mo
      900 SF

      Bronx Warehouse Space Available

      900 sqft warehouse with office, bathroom, suitable for storage.
      496 City Island Avenue, Bronx, NY 10464
      View Details
    • $2,000/Mo

      Office Space with Two Private Rooms

      Flexible office layout with two private rooms, suited to professional or medical service tenants.
      306 White Plains Road, Bronx, NY 10473
      View Details
    • $12,000/Mo
      5,050 SF

      Mott Haven Mixed-Use Building

      Four-story mixed-use building available for lease in Mott Haven.
      230 E 144th Street, Bronx, NY 101451
      View Details
    • $15,000/Mo

      Commercial Space in Bronx, NY

      Commercial space suitable for various retail and office uses.
      1091 Ogden ave, Bronx, NY 10452
      View Details
    • $7,000/Mo

      Commercial Space in Bronx, NY

      Commercial space available for rent in the Bronx, NY.
      459 East Tremont Ave, Bronx, NY 10457
      View Details
    • $2,000/Mo

      Turnkey Nail Salon Space

      Move-in ready nail salon in Crotona Park East.
      1123 Southern Blvd, Bronx, NY 10459
      View Details
    • $6,800/Mo

      Established Bronx Restaurant Opportunity

      Restaurant space with equipment, basement, and high foot traffic.
      2783 3rd Avenue, Bronx, NY 10455
      View Details
    • $7,500/Mo
      2,400 SF

      Versatile Commercial Space in Bronx

      2,400 sq ft commercial space ideal for retail or office.
      2814 Middletown Road, Bronx, NY 10461
      View Details

    FAQs

    What type of property is this?
    Strip mall - Retail space in a 900,000 SF power center.
    Where is this strip mall located?
    The property is located at 651 River Ave Bronx, NY.
    What are key features of this property?
    This property features: 900,000 SF Power Center; Over 2,300 parking spaces; Direct access to Exits 4, 5 & 6 from the Major Deegan Expressway
    (516) 933-8880 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Brian Schuster
    Brian Schuster
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    651 River Ave, Bronx, NY
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!