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

    670 Morris Park Ave, Bronx, NY 10462-3503

    View on Map
    • Investment properties
    • 5,192 SF
    • 0.05 lot acres
    Off-Market
    Property ID
    US63-2696050
    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
    $1,135,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Dr. Babak Behmanesh / Dental Office

    Property Details for 670 Morris Park Ave

    Year built
    1906
    Lot size
    0.05 lot acres
    Zone code
    R5
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    04031-0009
    APU
    40310009

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jul 19, 2022 — Jocarl Realty Vi, LLC — Deed · related $1M · Hanover Community Bank
    Apr 10, 2017 — Jocarl Realty Vi LLC — Deed · related $413k · Savoy Bank
    — — Jocarl Realty Vi LLC — Deed Of Trust · related $450k · Provident Bank INC
    — — Jocarl Realty Vi LLC — Deed Of Trust · related $400k · Provident Bank INC
    — — Jocarl Realty Vi LLC — Loan Modification, Consolidation And Extension · related $800k · Savoy Bk

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,715,000
      6.5%
      $1,580,000
      7%
      $1,470,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $685,000
      Market price range: $362k - $689k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,405,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Bronx
    County
    Bronx
    State
    New York
    Longitude
    -73.8669
    Latitude
    40.8448
    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
    $25,683
    $5,282
    $200,152
    $205,434
    -
    $22,000
    $833,600
    $855,600

    Comparable in this City

    • Value Estimation
      $775,000
      4,000 SF

      961 Morris Park Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      961 Morris Park Ave, Bronx, NY 10462-3704
      View Details
    • Value Estimation
      $840,000
      4,382 SF

      1719 Zerega Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      1719 Zerega Ave, Bronx, NY 10462-5450
      View Details
    • Value Estimation
      $685,000
      3,825 SF

      872 Morris Park Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      872 Morris Park Ave, Bronx, NY 10462-3632
      View Details
    • Value Estimation
      $1,225,000
      2,074 SF

      844 Morris Park Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      844 Morris Park Ave, Bronx, NY 10462-3615
      View Details
    • Value Estimation
      $575,000
      3,294 SF

      815 Morris Park Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      815 Morris Park Ave, Bronx, NY 10462-3682
      View Details
    • Value Estimation
      $645,000
      3,432 SF

      783 Van Nest Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      783 Van Nest Ave, Bronx, NY 10462-3935
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,310 SF

      Mixed-Use Property | 4,310 SqFt

      Mixed-use property featuring 4,310 SqFt of space.
      1711 Zerega Ave, Bronx, NY 10462
      View Details
    • Contact for pricing
      2,730 SF

      Two-Story Commercial Building Near Transit

      Two-story commercial building near Castle Hill Avenue MTA station.
      1325 Castle Hill Ave, Bronx, NY 10462
      View Details
    • $1,695,000
      3,600 SF

      Bronx Mixed-Use Property For Sale

      Mixed-use property featuring a store, basement, and two apartments.
      1240 Castle Hill Ave, Bronx, NY 10462
      View Details
    • $1,250,000
      2,198 SF

      Bronx Mixed-Use Property For Sale

      Historic Bronx home with storefront and income potential.
      2126 Westchester Ave, Bronx, NY 10462
      View Details
    • Contact for pricing

      Bronxdale Avenue Mixed-Use Opportunity

      Mixed-use property with restaurant, development potential in high-traffic Bronx location.
      1506 Bronxdale Ave, Bronx, NY 10462
      View Details
    • $2,200,000
      3,600 SF

      Castle Hill Mixed-Use Investment

      Six-unit building, high-traffic location.
      1248 Castle Hill Ave, Bronx, NY 10462
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      1049 Zerega Ave

      Corner Industrial Building
      1049 Zerega Ave, Bronx, NY 10462
      View Details
    • $2,000 /Mo

      Renovated Office Space Available

      Professional office space in a newly renovated real estate environment.
      1211A Castle Hill Ave, Bronx, NY 10462
      View Details
    • $9,100 /Mo

      Retail Space in The Bronx

      Retail space available for lease in The Bronx, NY.
      2260 E East Tremont The, Bronx, NY 10462
      View Details
    • Contact for pricing
      9,200 SF

      Retail Space in New Development

      Retail space available for rent in a new development.
      2111 White Plains Rd, Bronx, NY 10462
      View Details
    • Contact for pricing
      938 SF

      Prime Retail Space Available

      938 SF retail space with high foot traffic.
      2048 Wallace Ave, Bronx, NY 10462
      View Details
    • $7,000 /Mo

      Morris Park Retail Space Available

      Retail space for rent in Morris Park, Bronx.
      961 Morris Park Ave, 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.

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