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

    124 238th St Bronx, NY 10463-4204

    • Retail space
    • 1,322 SF
    • 0.05 lot acres
    OFF-MARKET
    Value Estimations
    $440,000
    Show details
    Cap Rate Potential
    6.8%
    Retail space
    Location Intelligence
    Property ID
    US63-0130044
    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

    • Acapella 238 pizzeria / Pizza Restaurant
    • Rachel Bakery & Candy Inc / Bakery
    • D'Tigre's Pizzeria / Pizza Restaurant
    • Cocada Bakery Corporation / Bakery

    Property Details for 124 238th St

    Year built
    1926
    Lot size
    0.05 lot acres
    Property size
    1,322 SF
    Zone code
    C8-1
    Property type
    Retail space
    APN
    03262-0075
    APU
    32620075

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $410,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $465,000
      6.5%
      $430,000
      7%
      $400,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $491,000
      Market price range: $476k - $1.17M

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

    Location Insight

    • Map
    • Local Demand
    City
    Bronx
    County
    Bronx
    State
    New York
    Longitude
    -73.8979
    Latitude
    40.8835
    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
    $9,743
    $22,050
    $69,930
    $91,980
    -
    $49,000
    $158,000
    $207,000

    Comparable in this City

    • Value Estimation
      $1,015,000
      11,648 SF

      3501 Johnson Ave, Unit 3519

      RETAIL STORES (PERSONAL SERVICES) • 11,648 SF
      3501 Johnson Ave, Bronx, NY 10463-1602
      View Details
    • Value Estimation
      $1,090,000
      21,300 SF

      3520 Johnson Ave, Unit 3552

      RETAIL STORES (PERSONAL SERVICES) • 21,300 SF
      3520 Johnson Ave, Bronx, NY 10463-1603
      View Details
    • Value Estimation
      $795,000
      11,060 SF

      3525 Johnson Ave, Unit 3555

      RETAIL STORES (PERSONAL SERVICES) • 11,060 SF
      3525 Johnson Ave, Bronx, NY 10463-1602
      View Details
    • Value Estimation
      $735,000
      14,522 SF

      11 Knls Cres, Unit 21

      RETAIL STORES (PERSONAL SERVICES) • 14,522 SF
      11 Knls Cres, Bronx, NY 10463-6301
      View Details
    • Value Estimation
      $895,000
      19,235 SF

      3701 Riverdale Ave, Unit 3729

      RETAIL STORES (PERSONAL SERVICES) • 19,235 SF
      3701 Riverdale Ave, Bronx, NY 10463-1807
      View Details
    • Value Estimation
      $545,000
      1,680 SF

      5592-5594 Broadway

      RETAIL STORES (PERSONAL SERVICES) • 1,680 SF
      5592-5594 Broadway, Bronx, NY 10463
      View Details

    Similar Nearby for Sale

    • $7,950,000
      165,000 SF

      Bronx Retail/Office Strip For Sale

      160k+ SF retail corner building in Marble Hill neighborhood.
      5500 Broadway, Bronx, NY 10463
      View Details
    • $249,000

      Wine/Liquor Store Business Opportunity

      Wine/Liquor store business for sale in Bronx, NY.
      7 Knolls Cres, Bronx, NY 10463
      View Details
    • $5,500,000
      12,143 SF

      Riverdale Avenue Mixed-Use Investment

      Two adjacent buildings with residential and commercial units in Riverdale.
      3174-3190 Riverdale Ave, Bronx, NY 10463
      View Details
    • $269,995

      Riverdale Co-op with Deeded Parking

      Spacious, bright co-op with parking, close to transportation and amenities.
      2736 The, Bronx, NY 10463
      View Details
    • $1,050,000
      0.16 Acres

      Riverdale Multifamily Investment Opportunity

      Multifamily home with income potential in prime Riverdale location.
      3650 Waldo Ave, Bronx, NY 10463
      View Details
    • $309,000

      Residential Income Property For Sale

      Residential income property available for purchase.
      3777 The, Bronx, NY 10463
      View Details

    Similar Nearby for Lease

    • $25,000
      2,065 SF

      Large Storefront Retail Space Available

      Vacant 2,065 SF storefront in Bronx, food allowed.
      13 Knolls Cres, Bronx, NY 10463
      View Details
    • Contact for pricing
      1,000 SF

      Prime Retail Space in Bronx

      1,000 SF retail space in a top NYC corridor.
      225 W 230Th St, Bronx, NY 10463
      View Details
    • $17,500 /Mo
      3,080 SF

      Bronx Retail Space Available

      3,080 SF retail space for rent in Bronx, NY.
      3520 Johnson Ave, Bronx, NY 10463
      View Details
    • Contact for pricing
      789 SF

      Retail Space in High-Traffic Area

      Retail space available in Riverdale's busiest pedestrian corridor.
      190 W 231St St, Bronx, NY 10463
      View Details
    • Contact for pricing
      9,539 SF

      Bronx Retail Space Available

      Retail space available in a busy Bronx location.
      5673 Broadway, Bronx, NY 10463
      View Details
    • Contact for pricing
      18,829 SF

      Broadway Plaza Retail Space For Lease

      Prime Bronx retail, multiple suites available.
      0 Broadway Plz, Bronx, NY 10463
      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.
    124 238th St
    Bronx, NY 10463-4204
    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.