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

    3500 Corsa Ave Bronx, NY 10469

    • Commercial real estate
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-5256129
    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

    • Commercial real estate

    Property Details for 3500 Corsa Ave

    Property type
    Commercial real estate

    Description

    This mixed-use property at 3500 Corsa Avenue in the Bronx, NY, 10469, is currently listed for $950,000. The building consists of three units, each offering a unique layout and features. The top floor unit boasts three bedrooms, two full bathrooms (including a master bathroom), a spacious living room, and a dining room, along with a kitchen. The second-floor unit also features three bedrooms and two full bathrooms (including a master bathroom), a living room, a dining room, and a kitchen that was remodeled a few years ago. The first-floor unit includes two bedrooms, one bathroom, a living room, and a kitchen. The property's square footage is currently unavailable. The building is currently involved in probate court proceedings. This presents a unique investment opportunity for a buyer willing to navigate the legal process. The property's location in the Bronx offers potential for future appreciation and rental income once the probate matter is resolved. Interested parties should conduct their own due diligence regarding the legal status and potential of this property. The address is 3500 Corsa Avenue, Bronx, NY 10469.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Bronx
    County
    36005
    State
    New York
    Longitude
    -73.8480416
    Latitude
    40.8786147

    Comparable in this City

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      12,836 SF

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      Bronx Mixed-Use Investment Opportunity

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      Bronx Multi-Family Investment Opportunity

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      All brick multifamily home in Williamsbridge community, near transportation.
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      Bronx Triplex on Large Lot

      Three-family home on a 50 x 100 lot in the Bronx.
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      Tudor Triplex in Pelham Parkway

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    Similar Nearby for Sale

    • $2,495,000
      12,836 SF

      Bronx Mixed-Use Investment Opportunity

      Mixed-use property with 15 apartments and two commercial units.
      3717 Bronxwood Ave, Bronx, NY 10469
      View Details
    • $2,495,000
      12,836 SF

      Bronx Mixed-Use Investment Opportunity

      Mixed-use property in the Bronx with income potential.
      3717 Bronxwood Ave, Bronx, NY 10469
      View Details
    • $3,250,000
      8,483 SF

      Bronx Multi-Family Investment Opportunity

      16-Unit Building, Excellent Condition, High Occupancy
      2543 Bronxwood Ave, Bronx, NY 10469
      View Details
    • $849,000
      Pending

      Bronx Multifamily Home Near Transit

      All brick multifamily home in Williamsbridge community, near transportation.
      3248 Hone Ave, Bronx, NY 10469
      View Details
    • $1,429,000
      Pending

      Bronx Triplex on Large Lot

      Three-family home on a 50 x 100 lot in the Bronx.
      2312 Morgan Ave, Bronx, NY 10469
      View Details
    • $1,299,000
      Pending

      Tudor Triplex in Pelham Parkway

      Two-family Tudor with finished basement, lush backyard, and garage.
      2441 Yates Ave, Bronx, NY 10469
      View Details

    Similar Nearby for Lease

    • $2,500 /Mo
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      Bronx Commercial Space Available

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    • $2,800 /Mo

      Retail Space on Williamsbridge Road

      Retail space available in a high-traffic area.
      2462 Williamsbridge Rd, Bronx, NY 10469
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      10,000 SF

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      Bronx Office Space for Lease

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    • $3,777 /Mo

      Charming Three-Bedroom Bronx Duplex

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    3500 Corsa Ave
    Bronx, NY 10469
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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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