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    Property profile & analytics

    3531 Boston Rd The Bronx, NY 10469

    • Retail space
    • 3,196 SF
    • 0.10 lot acres
    For Lease
    View listing
    Last Sale
    Mar 01, 2024
    $1,630,000
    Value Estimations
    $1,585,000
    Cap Rate Potential
    4.1%
    Retail space
    Location Intelligence
    Property ID
    US63-0719301
    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

    • Joseph Inwood Corporation / Liquidator
    • Baychester Locksmiths Inc. / Locksmith / Safe & Vault Shop

    Property Details for 3531 Boston Rd

    Year built
    1930
    Lot size
    0.10 lot acres
    Property size
    3,196 SF
    Zone code
    C8-1
    Property type
    Retail space
    APN
    04724-0034
    APU
    47240034

    Description

    This newly renovated 3,200 square foot retail strip center is available for lease on Boston Road in the Bronx, New York. Located at 3525-3531 Boston Road, near the intersection with Mickle Avenue, this property boasts a prime location on one of the busiest commercial corridors in the borough, with over 18,000 vehicles passing daily. The building is classified as Class D and offers a total of six parking spaces for customer convenience. The space is currently divided into multiple tenancies, with a barbershop, insurance office, and locksmith currently occupying the units. However, all 3,000 square feet of vacant space can be made available within 30-60 days. The minimum divisible space is 1,000 square feet, with a maximum contiguous space of 3,000 square feet, offering flexibility for various business needs. This location benefits from strong neighboring retailers, including well-known brands such as Clean Rite Center, Arch Autoparts, Burger King, Popeyes, and Walgreens, ensuring a consistent flow of both foot and vehicle traffic. The property's high visibility and convenient location make it an ideal opportunity for businesses seeking a strong presence in a thriving Bronx commercial area. The zip code is 10469.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,630,000
      ML approach
      $1,630,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,120,000
      6.5%
      $1,035,000
      7%
      $960,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,363,000
      Market price range: $1.15M - $2.82M

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

    Location Insight

    • Map
    • Local Demand
    City
    Bronx
    County
    Bronx
    State
    New York
    Longitude
    -73.8455
    Latitude
    40.8777
    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
    $17,226
    $71,100
    $91,530
    $162,630
    -
    $158,000
    $227,000
    $385,000

    Comparable in this City

    • Value Estimation
      $495,000
      3,300 SF

      2703 Williamsbridge Rd

      RETAIL STORES (PERSONAL SERVICES) • 3,300 SF
      2703 Williamsbridge Rd, Bronx, NY 10469
      View Details
    • Value Estimation
      $530,000
      3,500 SF

      1115 Astor Ave, Unit 1121

      RETAIL STORES (PERSONAL SERVICES) • 3,500 SF
      1115 Astor Ave, Bronx, NY 10469-5401
      View Details
    • Value Estimation
      $2,180,000
      2,700 SF

      3545 Boston Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,700 SF
      3545 Boston Rd, Bronx, NY 10469
      View Details
    • Value Estimation
      $380,000
      425 SF

      1667 Gun Hl Rd

      RETAIL STORES (PERSONAL SERVICES) • 425 SF
      1667 Gun Hl Rd, Bronx, NY 10469-6003
      View Details
    • Value Estimation
      $5,405,000
      14,800 SF

      2414 Williamsbridge Rd, Unit 2448

      RETAIL STORES (PERSONAL SERVICES) • 14,800 SF
      2414 Williamsbridge Rd, Bronx, NY 10469-4806
      View Details
    • Value Estimation
      $1,275,000
      3,370 SF

      1300 222nd St

      RETAIL STORES (PERSONAL SERVICES) • 3,370 SF
      1300 222nd St, Bronx, NY 10469-2626
      View Details

    Similar Nearby for Sale

    • $2,495,000
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      Bronx Mixed-Use Investment Opportunity

      Mixed-use property in the Bronx with income potential.
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    • $2,495,000
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      Bronx Mixed-Use Investment Opportunity

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    • $1,600,000

      Bronxwood Multifamily with Garage Parking

      Legal 4-family with garage, extra units, parking, delivered vacant.
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    • $10,800,000

      28-Unit Investment Opportunity in Bronx

      Prime income-producing property with modern amenities and strong cash flow.
      3530 Mickle Ave, Bronx, NY 10469
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    • $11,500,000
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      Prime Bronx Retail Investment

      28-Unit Retail Building, High ROI
      3530 Mickle Ave, Bronx, NY 10469
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    • $3,250,000
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      Bronx Multi-Family Investment Opportunity

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    Similar Nearby for Lease

    • $2,500 /Mo
      13,736 SF

      Bronx Commercial Space Available

      Versatile commercial space suitable for retail, office, or professional use.
      3717 Bronxwood Ave, Bronx, NY 10469
      View Details
    • $2,800 /Mo

      Retail Space on Williamsbridge Road

      Retail space available in a high-traffic area.
      2462 Williamsbridge Rd, Bronx, NY 10469
      View Details
    • Contact for pricing
      13,010 SF

      Baychester Ave Retail Space For Lease

      Prime Bronx retail, high traffic, 645-2310 SF
      3431 Baychester Ave, Bronx, NY 10469
      View Details
    • Contact for pricing
      10,545 SF

      Bronx Retail Space for Rent

      Retail space available in a densely populated area.
      2721 Bronxwood Ave, Bronx, NY 10469
      View Details
    • $3,325 /Mo
      949 SF

      Retail Space in Williamsbridge

      949 SF retail space in prime Williamsbridge location.
      3421-3439 Boston Rd, Bronx, NY 10469
      View Details
    • $12,000 /Mo
      217,800,000 SF

      Eastchester Road Retail Space

      Prime retail space in a high-traffic Bronx strip mall.
      2447 Eastchester Rd, Bronx, NY 10469
      View Details
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    3531 Boston Rd
    The 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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