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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1340 Viele Ave Bronx, NY 10474-7134

    • Warehouses
    • 290,000 SF
    • 7.09 lot acres
    OFF-MARKET
    Last Sale
    Feb 09, 2021
    $60,794
    Value Estimations
    $65,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3127228
    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

    • Garyline / Advertising Agency / Professional Services
    • Gary Plastic Packaging / Plastic Injection Molding Service

    Property Details for 1340 Viele Ave

    Year built
    1931
    Lot size
    7.09 lot acres
    Property size
    290,000 SF
    Zone code
    M3-1
    Property type
    Warehouses
    APN
    02777-0292
    APU
    27770292

    Description

    This expansive industrial property, located at 1340 Viele Ave in The Bronx, NY 10474, offers a significant opportunity for businesses seeking substantial warehouse space. The single-story building boasts a total of 290,000 square feet, currently entirely vacant and ready for immediate occupancy. Built in 1931, the warehouse sits on a 47,000 square foot lot and features impressive ceiling heights ranging from 19 feet 6 inches to 21 feet 10 inches, providing ample vertical storage capacity. Efficient operations are supported by 17 loading docks and 2 drive-in doors, ensuring seamless loading and unloading processes. The property is zoned M3-1 and is served by robust power infrastructure, including 10,000 amps, 3-phase, 208v power. Ample parking is available with space for approximately 10,000 amps. This exceptional warehouse presents a rare opportunity to secure a large, well-located industrial space in Bronx County, New York. The property's size, features, and location make it suitable for a wide range of industrial and distribution businesses. Contact us today to learn more about this exceptional opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $65,000
      ML approach
      $415,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Bronx
    County
    Bronx
    State
    New York
    Longitude
    -73.8825
    Latitude
    40.8062
    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
    $995,005
    $873,450
    $8,520,480
    $9,393,930
    -
    $1,941,000
    $21,307,000
    $23,248,000

    Comparable in this City

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      550 Food Ctr Dr

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    • Value Estimation by Request
      140,348 SF

      1080 Leggett Ave

      WAREHOUSE, STORAGE • 140,348 SF
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    • Value Estimation
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      349 Bryant Ave

      WAREHOUSE, STORAGE • 2,480 SF
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    Similar Nearby for Sale

    • Contact for pricing

      Hunts Point Warehouse - 31,000 SF

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      12,500 SF

      Bronx Warehouse with Office Space

      12,500 SF warehouse featuring office space and drive-in doors.
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      10,000 SF

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      10,000 SF

      Bronx Warehouse Near Expressways

      10,000 SF warehouse with easy access to major routes.
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    • $6,500,000
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      Two-Story Industrial Building in Hunts Point

      27,500 SF industrial building with development potential in Hunts Point.
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    Similar Nearby for Lease

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      9,956 SF

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    • $12,500 /Mo
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      Bronx Warehouse Space Available

      7,500 SF warehouse space for rent in the Bronx.
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      Functional Warehouse Space in Bronx

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      10,000 SF

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      268,822 SF

      Bronx Warehouse: 10 Acres

      Massive warehouse, 10 acres, ideal for distribution.
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      View Details
    • Contact for pricing
      5,193 SF

      Industrial Space in The Bronx

      Single-story industrial space with easy access to major expressways.
      1200 Randall Ave, Bronx, NY 10474
      View Details
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    Bronx, NY 10474-7134
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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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