Medical Office Co-op
For Sale
$165,000
860 GRAND CONCOURSE, Bronx, NY 10451
Medical office co-op suite with multiple treatment or office rooms, a waiting/reception area, and a private bathroom.
Property Size700 SF
Price / SF$235.71
Days on Market356
Property Features for 860 GRAND CONCOURSE
General Information
Standard status
Active
Size
700 SF
Property subtype
Office
Additional Details
Highway Access
Yes
Amenities
Window/Wall Unit
3
Parking.
Paved Driveway, On Street.
City
In City.
Building Details
Year Built
1935
Listing Agency:
Realty Connect USA LI Inc
(631) 836-1434
Listed By:
Karen Gomez
(631) 836-1434
Source:
Xome
Added: Aug 24, 2025
Changed: Aug 12
Last Checked: Aug 14 at 3:53AM
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 Realty Connect USA LI Inc
Investment Insights
Based on property information with market context.
Unit 2R at 860 Grand Concourse is a medical office co-op suite in a well-maintained Art Deco building. The space has multiple treatment or office rooms, a waiting/reception area, and a private bathroom. The unit was previously used as a dental office for more than 30 years.
The building offers doorman service and mail and lobby access to the unit. The address is directly across from the Bronx Supreme Court and just steps from Yankee Stadium, with nearby subway service including lines B, D, 4, 2, and 5, as well as express and local bus options. Easy access to I-87 and I-95 is also noted in the remarks.
The building offers doorman service and mail and lobby access to the unit. The address is directly across from the Bronx Supreme Court and just steps from Yankee Stadium, with nearby subway service including lines B, D, 4, 2, and 5, as well as express and local bus options. Easy access to I-87 and I-95 is also noted in the remarks.
Key Highlights
- Unit 2R is a 751 sq. ft. commercial co‑op suite in an Art Deco building built in 1935
- Suite includes multiple treatment or office rooms, a waiting/reception area, and a private bathroom
- Previously used as a dental office for over 30 years
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
$14,515
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
8.80%
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%
$290,300
$290.3K
Cap Rate 7%
$207,357
$207.4K
Cap Rate 9%
$161,278
$161.3K
Market Conditions
NOI Build-Up for 700 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
$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 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%
$290,300
Cap Rate 7%
$207,357
Cap Rate 9%
$161,278
Alternative Uses
Best Use
Office B
$250.4K
$219.1K – $292.2K
NOI $17,530 @ 7.0% cap · market cap 10.62%
Second Best
Healthcare Medical
$207.4K
$181.4K – $241.9K
NOI $14,515 @ 7.0% cap · market cap 8.80%
Theoretical Best
Warehouse
$485.1K
$424.4K – $565.9K
NOI $33,954 @ 7.0% cap · market cap 20.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- ASPCA Community Veterinary Clinic - By Appointment Only — 501 E 161st St, Bronx, NY 10451
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office co-op suite with multiple treatment or office rooms, a waiting/reception area, and a private bathroom.
Where is this medical office space located?
The property is located at 860 GRAND CONCOURSE 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: Unit 2R is a 751 sq. ft. commercial co‑op suite in an Art Deco building built in 1935; Suite includes multiple treatment or office rooms, a waiting/reception area, and a private bathroom; Previously used as a dental office for over 30 years
