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

    651 Southern Blvd Bronx, NY 10455-3610

    • Apartment buildings
    • 40,992 SF
    • 0.24 lot acres
    OFF-MARKET
    Last Sale
    Dec 09, 2022
    $1,611,459
    Value Estimations
    $1,305,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-4098420
    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

    • Apartment buildings

    Property Details for 651 Southern Blvd

    Year built
    1925
    Lot size
    0.24 lot acres
    Property size
    40,992 SF
    Zone code
    R7-1
    Property type
    Apartment buildings
    APN
    02683-0090
    APU
    26830090

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,305,000
      ML approach
      $1,255,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Bronx
    County
    Bronx
    State
    New York
    Longitude
    -73.9007
    Latitude
    40.8134
    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
    $14,987
    $74,700
    $391,770
    $466,470
    -
    $166,000
    $931,000
    $1,097,000

    Comparable in this City

    • Value Estimation
      $295,000
      4,274 SF

      677 Dawson St

      APARTMENT HOUSE (5+ UNITS) • 4,274 SF
      677 Dawson St, Bronx, NY 10455-2417
      View Details
    • Value Estimation
      $415,000
      61,200 SF

      777 Fox St, Unit 783

      APARTMENT HOUSE (5+ UNITS) • 61,200 SF
      777 Fox St, Bronx, NY 10455-2007
      View Details
    • Value Estimation
      $420,000
      75,382 SF

      409 146th St, Unit 445

      APARTMENT HOUSE (5+ UNITS) • 75,382 SF
      409 146th St, Bronx, NY 10455-4114
      View Details
    • Value Estimation
      $390,000
      213,500 SF

      510 146th St, Unit 525

      APARTMENT HOUSE (5+ UNITS) • 213,500 SF
      510 146th St, Bronx, NY 10455-4264
      View Details
    • Value Estimation
      $430,000
      65,265 SF

      460 147th St

      APARTMENT HOUSE (5+ UNITS) • 65,265 SF
      460 147th St, Bronx, NY 10455-4129
      View Details
    • Value Estimation
      $455,000
      91,660 SF

      455 148th St, Unit 529

      APARTMENT HOUSE (5+ UNITS) • 91,660 SF
      455 148th St, Bronx, NY 10455-4168
      View Details

    Similar Nearby for Sale

    • New
      $2,500,000
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      Bronx Multifamily Investment Opportunity

      Fully occupied, 21-unit building with strong cash flow.
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      Fox Street Apartment For Sale

      Apartment building available for purchase in The Bronx.
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    • New
      $1,100,000
      0.04 Acres

      Bronx Mixed-Use Investment Opportunity

      Mixed-use property in the Bronx with store and residential units.
      610 Union Ave, Bronx, NY 10455
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    • $795,000
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      Bronx Triplex: Investment Opportunity

      Legal three-family property in the Longwood Historic District.
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    Similar Nearby for Lease

    • $39 SF/Yr
      54,631 SF

      Prime Bronx Office Space Available

      Newly renovated, flexible office space in Bronx, NY
      521 Bergen Ave, Bronx, NY 10455
      View Details
    • Contact for pricing
      15,000 SF

      Prime Bronx Medical Office Space

      15,000 SF Medical Office Building For Lease
      2918 3Rd Ave, The Bronx, NY 10455
      View Details
    • $18 SF/Yr
      16,447 SF

      Bronx Retail Space Sublease

      Prime retail space in the heart of The Hub.
      3006-3036 3Rd Ave, Bronx, NY 10455
      View Details
    • Contact for pricing
      42,069 SF

      Bronx Warehouse with Loading Docks

      186,000 SF, 5-story warehouse with loading docks and drive-ins.
      430 Southern Blvd, Bronx, NY 10455
      View Details
    • Contact for pricing
      10,310 SF

      Bronx Retail Space Available

      Retail space available for lease in the Bronx.
      430-438 Westchester Ave, Bronx, NY 10455
      View Details
    • Contact for pricing
      9,939 SF

      Bronx Retail Space - Third Ave.

      Prime Bronx retail space, 9,939 sq ft.
      2952 3Rd Ave, The Bronx, NY 10455
      View Details
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    651 Southern Blvd
    Bronx, NY 10455-3610
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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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