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    1948-1998 Bruckner Blvd The Bronx, NY 10473
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    1948-1998 Bruckner Blvd, The Bronx, NY 10473

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    • Retail properties & Spaces
    • 388,887 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Bruckner Commons / Shopping Center & Mall

    Property Details for 1948-1998 Bruckner Blvd

    Property type
    Retail properties & Spaces

    Description

    Bruckner Commons is a prominent 388,887 square foot regional shopping center strategically located off the Bruckner Expressway (I-287) in the Bronx, New York. This expansive open-air center boasts a diverse tenant mix, anchored by major retailers ShopRite and Burlington, and complemented by a variety of smaller shops and restaurants. Currently, there are nine available spaces ranging from 1,659 to 90,271 contiguous square feet, with a total of 234,532 square feet currently vacant. The property sits on a substantial 18.4-acre lot and provides convenient access for shoppers and employees alike. With a generous 1,121 parking spaces, Bruckner Commons offers a parking ratio of 2.88 spaces per 1,000 square feet, significantly exceeding the needs of its tenants and patrons. This exceptional parking availability, combined with the center's size, diverse tenant mix, and prime location, draws a substantial customer base from a wider geographic area than many comparable urban retail centers. The property presents a unique opportunity for businesses seeking high visibility and strong foot traffic in a thriving Bronx community. The minimum divisible space is 1,659 square feet.

    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
    -73.8584
    Latitude
    40.825

    Comparable in this City

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      936 SF

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      3,164 SF

      1910 Story Ave

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      1910 Story Ave, The Bronx, NY 10473
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    • Value Estimation by Request
      2,200 SF

      1600 Bruckner Blvd

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      1600 Bruckner Blvd, The Bronx, NY 10473
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    • Value Estimation by Request
      0.24 Acres

      2347 Hermany Ave

      AUTO REPAIR, GARAGE
      2347 Hermany Ave, Bronx, NY 10473-1113
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    • Value Estimation by Request
      0.12 Acres

      2346 Story Ave

      AUTO REPAIR, GARAGE
      2346 Story Ave, Bronx, NY 10473-1118
      View Details
    • Value Estimation
      $11,840,000
      33,500 SF

      945 White Plns Rd

      RETAIL STORES (PERSONAL SERVICES)
      945 White Plns Rd, Bronx, NY 10473-2542
      View Details

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      Bruckner Blvd Retail Opportunity

      Retail space available for ground lease or built to suit.
      1896-1898 Bruckner Blvd, Bronx, NY 10473
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      4,229 SF

      Regional Shopping Center Retail Space

      Retail space available in a high-traffic Bronx shopping center.
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      Commercial Space for Lease

      Commercial space available for lease in The Bronx.
      1910 Story Ave, Bronx, NY 10473
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      3,460 SF

      Soundview Retail Space Available

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      Bruckner Commons Retail Space

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    The Bronx, NY 10473
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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.

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