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    1382 Shakespeare Ave, Unit The Bronx, NY 10452

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    1382 Shakespeare Ave, Unit The Bronx, NY 10452

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    • Apartment buildings
    • 127,774 SF
    • 0.80 lot acres
    For Lease
    $1,930,000
    View Listing →
    Retail Space for Lease For Lease
    $1,930,000

    Retail Space for Lease

    Retail space available for lease in The Bronx.

    1382 Shakespeare Ave, The, Bronx, NY 10452
    View Listing
    Property ID
    US63-0898149
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Medlife Ambulette / Handicapped Transportation Service
    • 1382 Shakespeare / Apartment Building
    • Brikama Association New York Inc / Charitable Organization / Social Service Agency

    Property Details for 1382 Shakespeare Ave

    Year built
    2009
    Lot size
    0.80 lot acres
    Property size
    127,774 SF
    Zone code
    R7-1
    Property type
    Apartment buildings
    APN
    02872-0007
    APU
    28720007

    Description

    This exceptional retail opportunity presents a fully vacant 12,200 square foot shopping center located at 1382 Shakespeare Avenue in the Bronx, New York, zip code 10452. The property is classified as a multi-tenant retail space, offering significant flexibility for prospective tenants. The building's total area is 12,200 square feet, with divisible spaces available ranging from a minimum of 4,000 square feet to a maximum contiguous space of 8,200 square feet. This allows for a variety of configurations to suit different business needs and scales. The property's prime location in Bronx County offers excellent visibility and accessibility, making it an ideal location for businesses seeking high foot traffic and strong community engagement. The entire space is currently vacant, presenting a unique chance for a single tenant to occupy the entire building or for multiple tenants to establish a vibrant retail hub. This is a rare opportunity to secure a substantial retail presence in a thriving Bronx neighborhood. The property is situated at 40.8418758 latitude and -73.9210561 longitude. Serious inquiries are encouraged to explore this exceptional retail investment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Bronx
    County
    Bronx
    State
    New York
    Longitude
    -73.921
    Latitude
    40.8418
    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
    $1,582
    $225,000
    $4,382,640
    $4,607,640
    -
    $500,000
    $9,325,000
    $9,825,000

    Comparable in this City

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      1111 Gerard Ave

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    • Value Estimation
      $510,000
      9,420 SF

      918 Gerard Ave

      APARTMENT HOUSE (5+ UNITS) • 9,420 SF
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      55,000 SF

      1325 Grand Concourse

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      $12,830,000
      92,925 SF

      120 Marcy Pl, Unit 130

      APARTMENT HOUSE (5+ UNITS) • 92,925 SF
      120 Marcy Pl, Bronx, NY 10452-7450
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      82,161 SF

      1401 Jesup Ave

      APARTMENT HOUSE (5+ UNITS) • 82,161 SF
      1401 Jesup Ave, Bronx, NY 10452-1962
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    Similar Nearby for Lease

    • Contact for pricing

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      Commercial space available for lease on Queens Boulevard.
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      Retail Space in Residential Neighborhood

      Retail space in high-traffic, dense residential area. Divisible space.
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      Grand Concourse Retail Opportunity

      Prominent building with high visibility and strong retail co-tenancy.
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      Commercial Space in Bronx, NY

      Commercial space suitable for various retail and office uses.
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      2,000 SF

      Corner Retail Space Available

      Rare corner retail space, former pharmacy and laundromat.
      151-169 E 170Th St, Bronx, NY 10452
      View Details
    View Listing
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    Bronx, NY 10452
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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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