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

    450 Zerega Ave Bronx, NY 10473-1211

    • Auto shops
    • 40,248 SF
    • 0.94 lot acres
    OFF-MARKET
    Last Sale
    Mar 24, 2021
    $14,500,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2162201
    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

    • Auto shops

    Property Details for 450 Zerega Ave

    Year built
    1959
    Lot size
    0.94 lot acres
    Property size
    40,248 SF
    Zone code
    M1-1
    Property type
    Auto shops
    APN
    03513-0032
    APU
    35130032

    Description

    This exceptional Bronx County property at 450 Zerega Avenue offers a unique blend of office and warehouse space, ideal for a variety of businesses. The two-story building boasts a total of 40,248 square feet, with 22,000 square feet currently vacant. The expansive lot size of 40,800 square feet provides ample parking and excellent street frontage on Zerega Avenue. The building features two drive-ins, two loading platforms, and impressive ceiling heights ranging from 16 to 21 feet. Power is robust, with 800 amps available. The property is zoned M-1, offering flexibility for various uses. The vacant space includes a 22,000 square foot single-story section and an additional 10,000 square feet of land. An additional 15,700 square foot space is available on the second floor, accessible via a ramp, and features a 14-foot ceiling and one drive-in. This space also benefits from modern amenities, including HVAC, gas heat, and sprinklers. Both spaces can be combined for a total of 37,500 square feet of usable space. The property is in excellent condition, located in a safe area, and is suitable for a range of uses, including office space, charter schools, or assembly facilities. Rental price is available upon request.

    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
    Bronx
    State
    New York
    Longitude
    -73.8437
    Latitude
    40.8166
    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
    $299,816
    $275,400
    $2,555,190
    $2,830,590
    -
    $612,000
    $6,610,000
    $7,222,000

    Comparable in this City

    • Value Estimation
      $330,000
      0.08 Acres

      617 Soundview Ave

      AUTO REPAIR, GARAGE • 0.08 Acres
      617 Soundview Ave, Bronx, NY 10473-2928
      View Details
    • Value Estimation
      $320,000
      0.12 Acres

      2348 Story Ave

      AUTO REPAIR, GARAGE • 0.12 Acres
      2348 Story Ave, Bronx, NY 10473-1118
      View Details
    • Value Estimation
      $365,000
      5,000 SF

      1908 Patterson Ave

      AUTO REPAIR, GARAGE • 5,000 SF
      1908 Patterson Ave, Bronx, NY 10473-3033
      View Details
    • Value Estimation by Request
      8,600 SF

      470 Zerega Ave

      AUTO REPAIR, GARAGE • 8,600 SF
      470 Zerega Ave, Bronx, NY 10473
      View Details
    • Value Estimation
      $11,670,000
      0.74 Acres

      1931 Lafayette Ave

      AUTO REPAIR, GARAGE • 0.74 Acres
      1931 Lafayette Ave, Bronx, NY 10473
      View Details
    • Value Estimation
      $665,000
      10,001 SF

      751 Zerega Ave

      AUTO REPAIR, GARAGE • 10,001 SF
      751 Zerega Ave, Bronx, NY 10473-1135
      View Details

    Similar Nearby for Sale

    • $2,200,000

      Redevelopment Opportunity with Income Potential

      Commercial property with redevelopment potential and income-generating vacant land.
      1927 Gildersleeve The, Bronx, NY 10473
      View Details
    • $939,000

      Thieriot Ave Investment Opportunity

      Retail and automotive property for sale in The Bronx.
      410 Thieriot Ave, Bronx, NY 10473
      View Details
    • $5,250,000
      18,830 SF

      Corner Commercial Building on White Plains

      Corner commercial building with high visibility and strong income.
      2028 White Plains Rd, Bronx, NY 10473
      View Details
    • $190,000

      Restaurant in Castle Hill Area

      Restaurant for sale in the Castle Hill area.
      849 Castle Hill Ave, Bronx, NY 10473
      View Details
    • $8,500,000

      High-Income Bronx Investment Opportunity

      Retail property with storefronts and vacant lot in developing area.
      The 210-214-218-220-226 White Pln Rd, Bronx, NY 10473
      View Details
    • $375,000

      Modern Bronx Co-op Opportunity

      Updated 2-bedroom co-op in Soundview, Bronx. No board approval.
      875 The, Bronx, NY 10473
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      300,000 SF

      Throggs Neck Retail Center

      Bronx Power Center, High-Traffic Location
      815 Hutchinson River Pkwy, Bronx, NY 10473
      View Details
    • Contact for pricing
      388,887 SF

      Bruckner Commons Retail Center

      Large Bronx Retail Center, Ample Parking
      1948-1998 Bruckner Blvd, The Bronx, NY 10473
      View Details
    • $5,000 /Mo
      936 SF

      Retail Space on Castle Hill

      Retail space with partially built-out kitchen available for rent.
      666-674 Castle Hill Ave, Bronx, NY 10473
      View Details
    • Contact for pricing
      60,000 SF

      Bronx Retail Space Available

      60,000 square foot retail space in the Bronx.
      861 Zerega Ave, Bronx, NY 10473
      View Details
    • $65 SF/Yr
      9,200 SF

      Retail Space in New Development

      Retail space available for rent in a new development.
      2111 White Plains Rd, Bronx, NY 10473
      View Details
    • Contact for pricing
      3,164 SF

      Bruckner Commons Medical Office Space

      Prime Bronx Medical Office: 3,164 sq ft available.
      1910 Story Ave, The Bronx, NY 10473
      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.
    450 Zerega Ave
    Bronx, NY 10473-1211
    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.