Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    The Westchester Ave And Evergreen Ave The Bronx, NY 10472

    • Retail properties
    • 10,020 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for The Westchester Ave And Evergreen Ave

    Property size
    10,020 SF
    Property type
    Retail properties
    Property subtype
    Retail space

    Description

    This exceptional investment opportunity presents a 10,020-square-foot retail storefront located at the intersection of Westchester Avenue and Evergreen Avenue in the Bronx, New York (zip code 10472). The property, a single-story building situated on a 10,020-square-foot lot, is zoned C4-2 and features eight separate tenant spaces, generating a Net Operating Income exceeding $600,000. The asking price is $8,950,000, representing a 6.70% cap rate with a pro-forma cap rate of 8.00%. A significant advantage is the inclusion of substantial development air rights, totaling 24,048 square feet, offering considerable potential for future expansion or redevelopment. The property benefits from its prime location on a busy retail corridor of Westchester Avenue, conveniently situated near a train entrance, ensuring high visibility and accessibility for both tenants and customers. This multi-tenant property presents a compelling investment opportunity with strong cash flow and significant upside potential.

    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
    -73.8811
    Latitude
    40.8285

    Comparable in this City

    • Value Estimation by Request
      6,750 SF

      1908 Cross Bronx Service Rd

      Individual retail properties • 6,750 SF
      1908 Cross Bronx Service Rd, The Bronx, NY 10472
      View Details
    • Value Estimation
      $4,825,000
      13,583 SF

      1688 Westchester Ave

      RETAIL STORES (PERSONAL SERVICES) • 13,583 SF
      1688 Westchester Ave, Bronx, NY 10472-3010
      View Details
    • Value Estimation
      $630,000
      1,925 SF

      2172 Cross Bronx Expy

      RETAIL STORES (PERSONAL SERVICES) • 1,925 SF
      2172 Cross Bronx Expy, Bronx, NY 10472
      View Details
    • Value Estimation
      $815,000
      3,000 SF

      1010 Castle Hl Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,000 SF
      1010 Castle Hl Ave, Bronx, NY 10472
      View Details
    • Value Estimation
      $4,270,000
      20,727 SF

      1170 Bronx Riv Ave

      RETAIL STORES (PERSONAL SERVICES) • 20,727 SF
      1170 Bronx Riv Ave, Bronx, NY 10472-3102
      View Details
    • Value Estimation
      $525,000
      2,022 SF

      1274 Bronx Riv Ave, Unit 1280

      RETAIL STORES (PERSONAL SERVICES) • 2,022 SF
      1274 Bronx Riv Ave, Bronx, NY 10472-2041
      View Details

    Similar Nearby for Sale

    • $2,250,000
      6,750 SF

      Bronx Retail Investment Opportunity

      High-NOI, Multi-Tenant Storefront
      1908 Cross Bronx Service Rd, The Bronx, NY 10472
      View Details
    • $468,000
      8,000 SF

      Bronx Retail Business Opportunity

      Retail business for sale in the Bronx, New York.
      1562 E 174Th St, Bronx, NY 10472
      View Details
    • $4,300,000
      8,030 SF

      Bronx Retail/Medical Investment Opportunity

      Two-story commercial building near subway with investment and user potential.
      1163 Manor Ave, Bronx, NY 10472
      View Details
    • $1,200,000

      Two-Family Brick Home with Parking

      Two-family home in Soundview with parking and income potential.
      1052 Evergreen Ave, Bronx, NY 10472
      View Details
    • $1,150,000
      Pending

      Renovated Bronx Duplex For Sale

      Fully renovated two-family home with income potential in the Bronx.
      1236 Evergreen Ave, Bronx, NY 10472
      View Details
    • $979,888
      Pending

      Bronx Triplex with Garage

      Three-unit brick house with garage and backyard in the Bronx.
      1002 Boynton Ave, Bronx, NY 10472
      View Details

    Similar Nearby for Lease

    • $110,000

      Premier Bronx Boutique Retail Space

      Unique boutique retail space specializing in high-end women's clothing.
      1764 St Ave, Bronx, NY 10472
      View Details
    • Contact for pricing
      888 SF

      Soundview Retail/Office Space Available

      Retail or office space in prime Soundview location near train.
      1630 Westchester Ave, Bronx, NY 10472
      View Details
    • Contact for pricing
      1,500 SF

      Retail Space Near Train Station

      Vented deli space adjacent to St. Lawrence Avenue train station.
      1772-1778 Westchester Ave, Bronx, NY 10472
      View Details
    • Contact for pricing
      15,600 SF

      Soundview Retail Space For Lease

      15,600 SF retail space in new mixed-use development.
      1755 Watson Ave, Bronx, NY 10472
      View Details
    • $4,000 /Mo
      700 SF

      High-Visibility Retail Space Available

      Ground floor commercial space in high-traffic location, ready for operation.
      1497 Westchester Ave, Bronx, NY 10472
      View Details
    • Contact for pricing
      12,000 SF

      New Development Retail Opportunity

      New development near transportation and upcoming housing.
      2069 Bruckner Blvd, Bronx, NY 10472
      View Details
    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.
    The Westchester Ave And Evergreen Ave
    The Bronx, NY 10472
    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

    Google sign-in failed. Please try again or use another login method.