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

    2940 Grand Concourse Bronx, NY 10458-2611

    • Retail residential properties
    • 75,121 SF
    • 0.32 lot acres
    OFF-MARKET
    Value Estimations
    $10,245,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2100180
    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

    • Edison B. Cruz, PT / Physical Therapy Clinic / Professional Services
    • nile rehab physical therapy / Physical Therapy Clinic
    • Grand Concourse Physical Therapy 3224 / Physical Therapy Clinic
    • Paradise Court Apartments / Apartment Building
    • GG2 Multiservices / Tax Preparation Service / Tax Preparation

    Property Details for 2940 Grand Concourse

    Year built
    1923
    Lot size
    0.32 lot acres
    Property size
    75,121 SF
    Zone code
    R8
    Property type
    Retail residential properties
    APN
    03320-0037
    APU
    33200037

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $12,837,000
      Market price range: $12.6M - $28.1M

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

    Location Insight

    • Map
    • Local Demand
    City
    Bronx
    County
    Bronx
    State
    New York
    Longitude
    -73.8877
    Latitude
    40.8716
    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
    $197,075
    $249,750
    $1,464,260
    $1,714,010
    -
    $555,000
    $2,948,000
    $3,503,000

    Comparable in this City

    • Value Estimation
      $6,315,000
      30,508 SF

      2346 Prospect Ave

      STORES & APARTMENTS • 30,508 SF
      2346 Prospect Ave, Bronx, NY 10458-8660
      View Details
    • Value Estimation
      $3,585,000
      16,900 SF

      2452 Grand Concourse, Unit 2458

      STORE/OFFICE (MIXED USE) • 16,900 SF
      2452 Grand Concourse, Bronx, NY 10458-5202
      View Details
    • Value Estimation
      $6,555,000
      31,500 SF

      300 Fordham Rd

      STORE/OFFICE (MIXED USE) • 31,500 SF
      300 Fordham Rd, Bronx, NY 10458-5008
      View Details
    • Value Estimation
      $2,680,000
      12,360 SF

      390 Fordham Rd

      STORES & APARTMENTS • 12,360 SF
      390 Fordham Rd, Bronx, NY 10458-5005
      View Details
    • Value Estimation
      $725,000
      3,000 SF

      350 Fordham Rd

      STORE/OFFICE (MIXED USE) • 3,000 SF
      350 Fordham Rd, Bronx, NY 10458-5030
      View Details
    • Value Estimation
      $9,290,000
      56,756 SF

      4697 3rd Ave

      STORES & APARTMENTS • 56,756 SF
      4697 3rd Ave, Bronx, NY 10458-6334
      View Details

    Similar Nearby for Sale

    • $1,179,000

      Bronx Mixed-Use Investment Opportunity

      Renovated 3-Family, Huge Potential
      0 194Th St, Bronx, NY 10458
      View Details
    • $2,199,000
      16,500 SF

      Bronx Multifamily Building Near Arthur Avenue

      21-unit multifamily building near Arthur Avenue with income potential.
      560 E 189Th St, Bronx, NY 10458
      View Details
    • $1,000,000
      Pending

      Bronx Triplex Near Grand Concourse

      Three-family property near Grand Concourse with investment potential.
      285 E 203Rd St, Bronx, NY 10458
      View Details
    • $1,500,000

      Residential Development Site in Bronx

      Residential development site near shopping and transportation in the Bronx.
      2710 Decatur Ave, Bronx, NY 10458
      View Details
    • $135,000

      Bronx Co-op with Modern Kitchen

      One-bedroom co-op in Fordham Manor, Bronx, near amenities.
      2661 The, Bronx, NY 10458
      View Details
    • $875,000

      Multi-Family Home on Pond Pl

      Multi-family home with income potential near transportation and amenities.
      2798 Pond Pl, Bronx, NY 10458
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      39,705 SF

      Bronx Mixed-Use Development Space

      Multi-level retail space in the heart of the Bronx.
      400-402 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
      3,000 SF

      Fordham Road Retail Space Available

      Retail space on Fordham Road with high foot traffic.
      330-348 E Fordham Rd, Bronx, NY 10458
      View Details
    • Contact for pricing
      3,000 SF

      Medical Space Available for Lease

      3,000 SF medical space available, formerly Lenox Hill Radiology.
      416 E 189Th St, Bronx, NY 10458
      View Details
    • Contact for pricing
      2,112 SF

      Retail Building Available For Lease

      Single-story corner retail building with high visibility, suitable for lease.
      2472 Webster Ave, 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
    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.
    2940 Grand Concourse
    Bronx, NY 10458-2611
    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.