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

    1201 Morris Park Ave, Unit 1211 Bronx, NY 10461-1905

    • Office buildings
    • 4,391 SF
    • 0.23 lot acres
    OFF-MARKET
    Last Sale
    Feb 16, 2024
    $1,270,000
    Value Estimations
    $1,515,000
    Show details
    Cap Rate Potential
    9.2%
    Office buildings
    Location Intelligence
    Property ID
    US63-1347657
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Office buildings

    Property Details for 1201 Morris Park Ave

    Year built
    1955
    Lot size
    0.23 lot acres
    Property size
    4,391 SF
    Zone code
    R4
    Property type
    Office buildings
    APN
    04203-0082
    APU
    42030082

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,270,000
      ML approach
      $1,270,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,955,000
      6.5%
      $1,805,000
      7%
      $1,675,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,744,000
      Market price range: $1.39M - $2.81M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,840,000
      Current use
      WAREHOUSE, STORAGE
      $1,700,000
      Change: -7% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Bronx
    County
    Bronx
    State
    New York
    Longitude
    -73.8485
    Latitude
    40.8514
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $32,698
    $156,150
    $165,060
    $321,210
    -
    $347,000
    $339,000
    $686,000

    Comparable in this City

    • Value Estimation
      $665,000
      53,285 SF

      1525-1527 Jarrett Pl

      PROFESSIONAL BUILDING • 53,285 SF
      1525-1527 Jarrett Pl, Bronx, NY 10461
      View Details
    • Value Estimation
      $2,370,000
      4,080 SF

      1535 Stillwell Ave

      OFFICE BUILDING (MULTI-STORY) • 4,080 SF
      1535 Stillwell Ave, Bronx, NY 10461-2211
      View Details
    • Value Estimation
      $885,000
      5,660 SF

      3225 Tremont Ave

      OFFICE BUILDING (MULTI-STORY) • 5,660 SF
      3225 Tremont Ave, Bronx, NY 10461-5707
      View Details
    • Value Estimation
      $250,000
      1,760 SF

      1931 Williamsbridge Rd

      PROFESSIONAL BUILDING • 1,760 SF
      1931 Williamsbridge Rd, Bronx, NY 10461-0408
      View Details
    • Value Estimation
      $475,000
      10,408 SF

      1350 Commerce Ave

      OFFICE BUILDING (MULTI-STORY) • 10,408 SF
      1350 Commerce Ave, Bronx, NY 10461-3643
      View Details
    • Value Estimation
      $550,000
      11,200 SF

      1968 Eastchester Rd

      OFFICE BUILDING (MULTI-STORY) • 11,200 SF
      1968 Eastchester Rd, Bronx, NY 10461-2318
      View Details

    Similar Nearby for Sale

    • New
      $1,075,000
      0.06 Acres

      Two-Family Home with Commercial Overlay

      Well-maintained two-family home with commercial overlay in Morris Park.
      1863 Williamsbridge Rd, Bronx, NY 10461
      View Details
    • $2,500,000
      Pending

      Corner Commercial Building with Auto Shop

      Corner commercial building with auto shop and medical office suites.
      2008 Eastchester Rd, Bronx, NY 10461
      View Details
    • $1,500,000
      3,426 SF

      Bronx Office Building - Prime Location

      Spacious Office Building with Apartment
      1867 Williamsbridge Rd, Bronx, NY 10461
      View Details
    • $3,800,000
      8,235 SF

      Morris Park Commercial Retail Package

      Five commercial buildings with long-term tenants in the Bronx.
      2012 Williamsbridge Rd, Bronx, NY 10461
      View Details
    • $1,500,000
      3,426 SF

      Prime Bronx Corner Office Building

      Three-story office building, 3,426 SF, vacant 3rd floor.
      1136 Rhinelander, Bronx, NY 10461
      View Details
    • $799,999
      Pending

      Bronx Duplex with Garage

      Legal two-family home with backyard, garage, and finished basement.
      2941 Middletown Rd, Bronx, NY 10461
      View Details

    Similar Nearby for Lease

    • $49 SF/Yr

      Storefront with Basement Near Transportation

      2300 Sq. Ft. storefront with basement near transportation.
      1729 Crosby Ave, Bronx, NY 10461
      View Details
    • $5,500 /Mo
      5,001 SF

      Retail/Office Space on Williamsbridge Road

      Retail/office space with parking on bustling Williamsbridge Road.
      1937 Williamsbridge Rd, Bronx, NY 10461
      View Details
    • $3,200 /Mo
      2,814 SF

      Bronx Medical Office Space

      Modern 2,000 sq. ft. medical office space for rent.
      2138 Continental Ave, Bronx, NY 10461
      View Details
    • $3,225 /Mo
      860 SF

      Versatile Commercial Space in the Bronx

      860 sq ft commercial space suitable for various businesses.
      2814 Middletown Rd, Bronx, NY 10461
      View Details
    • $3,000 /Mo
      2,400 SF

      Medical/Dental Office Space Available

      Medical/Dental office space for rent in Pelham Park area.
      3060 Roberts Ave, Bronx, NY 10461
      View Details
    • $7,500 /Mo
      5,053 SF

      Versatile Commercial Space in Bronx

      2,400 sq ft commercial space ideal for retail or office.
      2814 Middletown Rd, Bronx, NY 10461
      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.
    1201 Morris Park Ave, Unit 1211
    Bronx, NY 10461-1905
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.