Building Details

Building Size 700 SF

Buildings 1

Units 132

Listing Agency: Keller Williams Realty Group j***@kw.com Show Phone

Listed By: Johan Tolagomez Show Phone

Source: Croninreale

Added: Oct 12 Changed: Oct 23 Last Checked: Oct 23 at 5:41PM

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Investment Insights

Based on property information with market context.

This medical office co-op at 860 Grand Concourse, Unit 2R, has a multi-room layout, a reception area, and a private bathroom. The space was previously used as a dental office. Professional office use is subject to co-op approval.

The building provides doorman service and lobby access. The property is across from the Bronx Supreme Court and near Yankee Stadium, public transportation, major highways, shopping, and dining.

Key Highlights

• Multi‑room layout with a reception area and private bathroom
• Previously used as a dental office
• Building includes doorman service and lobby access

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$14,515

Cap Rate

8.80%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$290,300 $290.3K

Cap Rate 7%

$207,357 $207.4K

Cap Rate 9%

$161,278 $161.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 700 SF

Gross rent

$26.9K $38.40/SF

− Vacancy

−$2.7K −$3.84/SF

EGI

$24.2K $34.56/SF

− OpEx

−$9.7K −$13.82/SF

NOI

$14.5K $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 Rate 5%

$290,300

Cap Rate 7%

$207,357

Cap Rate 9%

$161,278

Alternative Uses

Best Use

Office B

$250.4K

$219.1K – $292.2K (±1% cap)

NOI $17,530 @ 7.0% cap · market cap 10.62%

Second Best

Healthcare Medical

$207.4K

$181.4K – $241.9K (±1% cap)

NOI $14,515 @ 7.0% cap · market cap 8.80%

Theoretical Best

Warehouse

$485.1K

$424.4K – $565.9K (±1% cap)

NOI $33,954 @ 7.0% cap · market cap 20.58%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Trotman Carlton DDS Dental Office Concourse Village Primary ... Medical Clinic Jude Arthur Medical ... Medical Clinic Echebiri Helen U Physician Vernescu E DDS Dental Office

Suggested Use

Top Pick Real Estate Agency Gym & Fitness Center Kitchen & Bath Showroom Skin Care Clinic Acupuncture Carpet & Flooring Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

4,968

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 10451, NY

51,536

Population

21,850

Households

2.4

Avg Household Size

36

Median Age

21%

College-Educated

74%

High-School Grad

1.1 sq mi

ZIP Area

46,851

Density / Sq Mi

$37,111

Median Household Income

$35,765

Median Earnings

$1,269

Median Rent

$263,500

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

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Frequently Asked Questions

What type of property is this?

Medical Office Space - The layout provides several rooms, a reception area, and a private bathroom.

Where is this medical office space located?

The property is located at 860 Grand Concourse #2R Bronx, NY.

What is the asking price?

The asking price for this property is $165,000.

What are key features of this property?

This property features: Multi‑room layout with a reception area and private bathroom; Previously used as a dental office; Building includes doorman service and lobby access