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    650 Morris Park Ave Bronx, NY 10462-3503
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    Property profile & analytics

    650 Morris Park Ave, Bronx, NY 10462-3503

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    • Investment properties
    • 2,720 SF
    • 0.10 lot acres
    Off-Market
    Last Sale May 23, 2025
    $1,050,000
    Property ID
    US63-2213928
    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.
    Value Estimations
    $1,050,000
    Show details
    Cap Rate Potential
    3%
    Investment properties
    Location Intelligence

    Current Use by Public Records

    • Holy Land Insurance & Travel / Insurance Agency

    Property Details for 650 Morris Park Ave

    Year built
    1901
    Lot size
    0.10 lot acres
    Zone code
    R5
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    04031-0001
    APU
    40310001

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 23, 2025 $1,050,000 Abdulla Ali Musaid Nasim H Ali Deed —
    Jun 15, 2022 $2,100,000 654 LLC Donna Hanna As Trustee Deed $1.4M · Spring Bank
    Aug 30, 2017 — Pieretti,luciano Trust Luciano Pieretti Quit Claim Deed —
    Jan 17, 2012 $250,000 Luciano Pieretti Pieretti,william & Renata Grant Deed · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $900,000
      6.5%
      $830,000
      7%
      $770,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $700,000
      Market price range: $593k - $964k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $735,000
      Current use
      RETAIL STORES
      $1,615,000
      Change: +120% Conversion: Easy
      WAREHOUSE, STORAGE
      $1,055,000
      Change: +43% Conversion: Difficult
      OFFICE BUILDING
      $990,000
      Change: +35% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Bronx
    County
    Bronx
    State
    New York
    Longitude
    -73.8675
    Latitude
    40.8447
    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
    $9,070
    $27,281
    $45,268
    $72,549
    -
    $199,000
    $330,200
    $529,200

    Comparable in this City

    • Value Estimation
      $800,000
      4,800 SF

      1716 White Plns Rd

      OFFICE/RESIDENTIAL (MIXED USE)
      1716 White Plns Rd, Bronx, NY 10462-3833
      View Details
    • Value Estimation
      $825,000
      4,150 SF

      1406 White Plns Rd

      OFFICE/RESIDENTIAL (MIXED USE)
      1406 White Plns Rd, Bronx, NY 10462-4270
      View Details
    • Value Estimation
      $780,000
      3,450 SF

      2259 Westchester Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      2259 Westchester Ave, Bronx, NY 10462-5074
      View Details
    • Value Estimation
      $880,000
      3,708 SF

      1945 Benedict Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      1945 Benedict Ave, Bronx, NY 10462-4401
      View Details
    • Value Estimation
      $650,000
      2,766 SF

      1673 Unionport Rd

      OFFICE/RESIDENTIAL (MIXED USE)
      1673 Unionport Rd, Bronx, NY 10462-3591
      View Details
    • Value Estimation
      $760,000
      4,486 SF

      866 Morris Park Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      866 Morris Park Ave, Bronx, NY 10462-3850
      View Details

    Similar Nearby for Sale

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      4,150 SF

      Mixed-Use Building on White Plains Road

      Mixed-use building with income potential near Parkchester and the 6 Train.
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      Bronx Multi-Unit with Storefront

      Two-family property with a store, near train station.
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      Mixed-Use Property | 4,310 SqFt

      Mixed-use property featuring 4,310 SqFt of space.
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      2,730 SF

      Two-Story Commercial Building Near Transit

      Two-story commercial building near Castle Hill Avenue MTA station.
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    • $1,695,000
      3,600 SF

      Bronx Mixed-Use Property For Sale

      Mixed-use property featuring a store, basement, and two apartments.
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    • $1,250,000
      2,198 SF

      Bronx Mixed-Use Property For Sale

      Historic Bronx home with storefront and income potential.
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    Similar Nearby for Lease

    • Contact for pricing
      40,000 SF

      Retail Space with On-Site Parking

      Retail space available for rent with on-site parking.
      2009 Cruger Ave, Bronx, NY 10462
      View Details
    • Contact for pricing
      4,000 SF

      Retail/Medical Space on White Plains

      High-visibility retail or medical space on Lydig Ave.
      700 Lydig Ave, Bronx, NY 10462
      View Details
    • Contact for pricing
      21,000 SF

      Bronxdale Avenue Retail Space Available

      Retail space with on-site parking and build-to-suit options.
      2009 Bronxdale Ave, Bronx, NY 10462
      View Details
    • Contact for pricing

      Retail and Office Spaces Available

      Retail and office spaces for lease in Parkchester, Bronx.
      Parkchester Condominiums The, Bronx, NY 10462
      View Details
    • $3,500 /Mo
      3,088 SF

      Bronx Commercial Office Space Available

      Commercial office space for rent in the Bronx, NY.
      633 Lydig Ave, Bronx, NY 10462
      View Details
    • $4,500 /Mo

      Versatile Commercial Space on Westchester

      Adaptable 1,300 sq ft commercial space in the Bronx.
      1400 Doris St, Bronx, NY 10462
      View Details
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    Bronx, NY 10462-3503
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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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