Your AI Navigator in Commercial Real Estate
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
    Property profile & analytics

    607 Soundview Ave Bronx, NY 10473-2928

    • Office buildings
    • 2,328 SF
    • 0.05 lot acres
    OFF-MARKET
    Last Sale
    Apr 17, 2024
    Value Estimations
    $365,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-0713279
    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

    • Rahimu Pharmacy / Pharmacy
    • Abed Mansur / Pharmacy

    Property Details for 607 Soundview Ave

    Year built
    1962
    Lot size
    0.05 lot acres
    Property size
    2,328 SF
    Zone code
    R5
    Property type
    Office buildings
    APN
    03558-0084
    APU
    35580084

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $365,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Bronx
    County
    Bronx
    State
    New York
    Longitude
    -73.8624
    Latitude
    40.8174
    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
    $14,785
    $45,000
    $94,590
    $139,590
    -
    $100,000
    $268,000
    $368,000

    Comparable in this City

    • Value Estimation
      $1,100,000
      60,000 SF

      1416 Bruckner Blvd

      OFFICE BUILDING (MULTI-STORY) • 60,000 SF
      1416 Bruckner Blvd, Bronx, NY 10473
      View Details
    • Value Estimation
      $595,000
      7,882 SF

      920 Castle Hl Ave

      PROFESSIONAL BUILDING • 7,882 SF
      920 Castle Hl Ave, Bronx, NY 10473-1320
      View Details
    • Value Estimation
      $410,000
      1,948 SF

      2171 Homer Ave

      OFFICE BUILDING (MULTI-STORY) • 1,948 SF
      2171 Homer Ave, Bronx, NY 10473-1304
      View Details
    • Value Estimation
      $490,000
      5,000 SF

      1790 Randall Ave, Unit 1798

      OFFICE BUILDING (MULTI-STORY) • 5,000 SF
      1790 Randall Ave, Bronx, NY 10473-3629
      View Details
    • Value Estimation
      $325,000
      2,050 SF

      644 Soundview Ave

      PROFESSIONAL BUILDING • 2,050 SF
      644 Soundview Ave, Bronx, NY 10473-2938
      View Details
    • Value Estimation
      $1,140,000
      54,536 SF

      930 Soundview Ave

      OFFICE BUILDING (MULTI-STORY) • 54,536 SF
      930 Soundview Ave, Bronx, NY 10473-3704
      View Details

    Similar Nearby for Sale

    • $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
    • $500,000

      Commonwealth Avenue Specialty Property

      Specialty property available for sale in The Bronx.
      625 Commonwealth 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
    • $235,800

      Lacombe Avenue Multifamily Property

      Multifamily property located on Lacombe Avenue, Bronx, NY.
      1715A The, Bronx, NY 10473
      View Details
    • $1,199,987

      Bronx Investment Property: Six Units

      Six-unit building in the Bronx with income potential.
      170 Soundview Ave, Bronx, NY 10473
      View Details
    • $1,150,000
      3,465 SF

      Modern Bronx Three-Family Residence

      Turnkey three-family residence in desirable Bronx neighborhood with strong cap rate.
      643 Thieriot Ave, Bronx, NY 10473
      View Details

    Similar Nearby for Lease

    • 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
    • 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
    • $180 SF/Yr
      35,000 SF

      Prime Bronx Industrial Space

      Spacious warehouse, ideal for distribution.
      935 Bronx River Ave, 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
      936 SF

      The Bronx Retail Space For Lease

      936 SF Retail Space - Excellent Location
      672 Castle Hill 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.
    607 Soundview Ave
    Bronx, NY 10473-2928
    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.