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    2431 Grand Concourse The The Bronx, NY 10468
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    Property profile & analytics

    2431 Grand Concourse The, The Bronx, NY 10468

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    • Retail properties & Spaces
    • 10,000 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details for 2431 Grand Concourse The

    Year built
    1928
    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Description

    This exceptional Class A retail and restaurant space, totaling 10,000 square feet, presents a remarkable investment opportunity in the heart of The Bronx. Located at 2431 Grand Concourse, this property boasts a prime location at the intersection of Grand Concourse and East Fordham Road, offering unparalleled visibility and accessibility. The building, constructed in 1928 and renovated the same year, features a multi-level layout spanning two stories. The ground floor encompasses 4,500 square feet, complemented by a 2,000 square foot mezzanine level and a 2,500 square foot second floor. This versatile space is ideal for a variety of uses, from a large-scale restaurant to a multi-tenant retail operation. The property benefits from a significant 50-foot frontage on Grand Concourse, ensuring high foot traffic and brand visibility. Additional benefits include rooftop signage opportunities, maximizing marketing potential. This is a rare chance to acquire a substantial, well-located commercial property in a thriving Bronx neighborhood. The property is situated in Bronx County, New York, with a zip code of 10468. This multi-level space offers significant potential for a discerning investor or business owner seeking a high-impact location. The building consists of one structure, providing a cohesive and easily managed space.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    The Bronx
    County
    Bronx
    State
    New York
    Longitude
    -73.8981
    Latitude
    40.8611

    Comparable in this City

    • Value Estimation by Request
      14,000 SF

      63 Fordham Rd

      Restaurants
      63 Fordham Rd, The Bronx, NY 10468
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    • Value Estimation by Request
      23,758 SF

      31 Fordham Rd

      Individual retail properties
      31 Fordham Rd, Bronx, NY 10468
      View Details
    • Value Estimation
      $605,000
      2,192 SF

      31 Bedford Park E Blvd

      RETAIL STORES (PERSONAL SERVICES)
      31 Bedford Park E Blvd, Bronx, NY 10468-1704
      View Details
    • Value Estimation
      $4,365,000
      10,000 SF

      2748 Jerome Ave

      RETAIL STORES (PERSONAL SERVICES)
      2748 Jerome Ave, Bronx, NY 10468
      View Details
    • Value Estimation
      $780,000
      3,350 SF

      2968 Jerome Ave

      RETAIL STORES (PERSONAL SERVICES)
      2968 Jerome Ave, Bronx, NY 10468
      View Details
    • Value Estimation
      $925,000
      3,991 SF

      2700 Jerome Ave, Unit CU

      RETAIL STORES (PERSONAL SERVICES)
      2700 Jerome Ave, Bronx, NY 10468-3618
      View Details

    Similar Nearby for Sale

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      11,719 SF

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      Pending

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      Garage building in Kingsbridge section of the Bronx.
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    Similar Nearby for Lease

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      Retail Space on Fordham Road

      Single tenant retail space available for rent in the Bronx.
      39 W Fordham Rd, Bronx, NY 10468
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      3,848 SF

      Retail Space with High Visibility

      Retail space with high street visibility in a dense neighborhood.
      118 E Fordham Rd, Bronx, NY 10468
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      7,500 SF

      Fordham Road Retail Space Available

      Retail space for rent in high-traffic Fordham Road area.
      306 E Fordham Rd, Bronx, NY 10468
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      Retail Space on Fordham Road

      Retail space for rent in high-traffic Bronx location.
      300 E Fordham Rd, Bronx, NY 10468
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      2,000 SF

      Retail Space on Grand Concourse

      Retail space available in high-traffic Bronx location.
      2465-2467 Grand Concourse, Bronx, NY 10468
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      3,500 SF

      Bronx Retail Space Available

      3,500 SF retail space for rent in the Bronx.
      115-119 E Fordham Rd, Bronx, NY 10468
      View Details
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    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
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