Add Listing
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

    2488 Grand Concourse Bronx, NY 10458-5203

    • Office buildings
    • 97,832 SF
    • 0.61 lot acres
    OFF-MARKET
    Value Estimations
    $26,790,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3029532
    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

    • American Tax Club / Consultant
    • Mental Health Association of New York / Crisis Center / Medical Clinic
    • Mobile Health / Occupational Health Service / Blood Testing Service
    • Dr. ARIC HAUSKNECHT, MD / Physician / Medical Clinic
    • Jacoby & Meyers, LLP / Law Firm

    Property Details for 2488 Grand Concourse

    Year built
    1937
    Lot size
    0.61 lot acres
    Property size
    97,832 SF
    Zone code
    C4-4
    Property type
    Office buildings
    APN
    03153-0009
    APU
    31530009

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $35,680,000
      Current use
      WAREHOUSE, STORAGE
      $37,920,000
      Change: +6% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $36,350,000
      Change: +2% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Bronx
    County
    Bronx
    State
    New York
    Longitude
    -73.8968
    Latitude
    40.862
    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
    $661,272
    $1,350,000
    $13,546,810
    $14,896,810
    -
    $3,000,000
    $30,494,000
    $33,494,000

    Comparable in this City

    • Value Estimation
      $31,760,000
      164,625 SF

      2432 Grand Concourse

      OFFICE BUILDING (MULTI-STORY) • 164,625 SF
      2432 Grand Concourse, Bronx, NY 10458-5204
      View Details
    • Value Estimation
      $10,220,000
      50,000 SF

      2532 Grand Concourse, Unit 2552

      PROFESSIONAL BUILDING • 50,000 SF
      2532 Grand Concourse, Bronx, NY 10458-4902
      View Details
    • Value Estimation
      $1,630,000
      8,102 SF

      201 201st St

      PROFESSIONAL BUILDING • 8,102 SF
      201 201st St, Bronx, NY 10458
      View Details
    • Value Estimation
      $765,000
      2,500 SF

      553 Fordham Rd

      PROFESSIONAL BUILDING • 2,500 SF
      553 Fordham Rd, Bronx, NY 10458-5046
      View Details
    • Value Estimation
      $10,895,000
      48,785 SF

      315 Kingsbridge Rd

      OFFICE BUILDING (MULTI-STORY) • 48,785 SF
      315 Kingsbridge Rd, Bronx, NY 10458-4443
      View Details
    • Value Estimation
      $11,020,000
      56,500 SF

      696 Fordham Rd

      OFFICE BUILDING (MULTI-STORY) • 56,500 SF
      696 Fordham Rd, Bronx, NY 10458-5022
      View Details

    Similar Nearby for Sale

    • $9,500,000
      10,900 SF

      Bronx Office Building For Sale

      10,900 SF office building available in the Bronx.
      2800 Webster Ave, Bronx, NY 10458
      View Details
    • $999,000
      2,480 SF

      Bronx Duplex in Little Italy

      Two-family brick duplex in Bronx's Little Italy neighborhood.
      2447 Beaumont Ave, Bronx, NY 10458
      View Details
    • $2,100,000

      Bronx Specialty Property Available

      Specialty property for sale in the Bronx, New York.
      350-354 East 193Rd St, Bronx, NY 10458
      View Details
    • $189,999

      Bronx Co-Op with Open Kitchen

      Spacious 2-bedroom co-op in the heart of the Bronx.
      2640 The, Bronx, NY 10458
      View Details
    • $200,000

      Bronx Coop with Modern Features

      Two-bedroom coop near transportation and amenities in the Bronx.
      2830 The, Bronx, NY 10458
      View Details
    • $215,000

      Cooperative Unit with City Views

      Two-bedroom apartment in gated community with included utilities.
      3 The, Bronx, NY 10458
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      60,000 SF

      Clock Tower Office Building

      Entire 11-story office building for rent in the Bronx.
      2530 Grand Concourse, Bronx, NY 10458
      View Details
    • Contact for pricing
      38,964 SF

      Versatile Space in Fordham Bronx

      Exceptional leasing opportunity in a vibrant Bronx neighborhood.
      350 E Fordham Rd, Bronx, NY 10458
      View Details
    • Contact for pricing
      60,000 SF

      Grand Concourse Executive Office Space

      Iconic Bronx Office Building - 60,000 SF Available
      2530 Grand Concourse The, The Bronx, NY 10458
      View Details
    • Contact for pricing
      500 SF

      New Development Office Space

      New office space with private entrance and HVAC system.
      2550 Briggs Ave, Bronx, NY 10458
      View Details
    • Contact for pricing
      6,904 SF

      Renovated Fordham Road Office Space

      Newly renovated office space in a modern building on Fordham Road.
      2426-2450 Grand Concourse, Bronx, NY 10458
      View Details
    • $45 SF/Yr
      40,000 SF

      East Fordham Road Office Building

      40,000 SF Office Space - Bronx, NY
      696 Fordham Rd, The Bronx, NY 10458
      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.
    2488 Grand Concourse
    Bronx, NY 10458-5203
    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.
    Sign Up Successful!
    You now have access to more from Realmo!